Rental prices returning to pre-pandemic levels
18:08
The rental rates for apartments in the last 12 months have increased by an average of 5 percent. According to the report of Expander and Rentier.io, the costs of renting an apartment increased in as many as 13 cities, and only in two decreased in 2021.
In 2021, the demand for apartment rentals increased. This was due to smaller epidemiological constraints and a favorable situation on the labor market, hence the increase in prices. Within 12 months, they increased by an average of less than 5 percent.
However, in Warsaw and Kraków, rental prices are still lower than those before the pandemic. In the case of the capital city, prices are 4 percent lower compared to February 202, and in Krakow by 3 percent. In these cities, slowdowns in the rental market were felt the most, and the recovery from before the pandemic is therefore slower.
Rental costs in 2021 increased slightly compared to the increase in mortgage installments. Among the 16 examined cities, in as many as 14, the cost of the rental rate is lower than the installment. The biggest difference is in Krakow, where the cost of renting a 40-meter flat is as much as PLN 613 lower than the loan installment for a similar flat, according to the report.
