Record-high apartment sales figures in 2014

As many as 11,200 apartments were sold in Q4 2014 in the top six residential markets in Poland (Warsaw, Kraków, Wrocław, the Tri-City, Poznań and Łódź), a record high figure. Throughout the entire year, 43,000 newly-built apartments were sold on the six biggest markets, which is 20 percent more than previously record in 2007 and 2013, according to residential real estate research firm REAS. The main drivers behind the increase were the MdM government subsidy program (“Apartments for the Youth”), the gradually decreasing maximum loan-to-value ratios (in 2014 it was 95 percent and starting 2015 it is 90 percent) prompting buyers to purchase before the end of 2014, and record low interest rates.