Price per square meter of an apartment in Warsaw breaks a historical record
20:58
The number of apartments for sale offered by developers in Poland's five largest cities was one-fifth higher in May than a year earlier, according to data from the websites Otodom and obido. In the Warsaw, Kraków, Łódź, Poznań, and Tri-City markets, developers' offers increased by 4 percent compared to April and by 21 percent compared to May 2021.
The most difficult situation is in Warsaw, where sales fell by half in May compared to May 2021. But at the same time, the number of new apartments put on the market also decreased significantly.
Otodom and obido point out at the same time that with such a combination of factors in the capital market, prices per square meter continue to rise.
"The market research conducted by obido and Otodom shows that the average offer price of a new apartment at the end of May in Warsaw amounted to PLN 12,850 and was the highest rate ever. In Kraków, Gdańsk and Wrocław, prices continue to exceed PLN 10,000 per square meter," Otodom and obido reported.
Will prices fall? Theoretically, it should be so, since the supply is growing and the demand has significantly decreased. But in the case of residential construction, the final price per square meter is also affected by other factors, such as the cost of materials and labor. And these have recently increased significantly.
