Report: Warsaw sees small decline in apartment prices
New-home prices were largely stable across Poland’s major metropolitan markets in July, according to RynekPierwotny.pl. Warsaw recorded its first monthly decline in eight months, with the average asking price falling by about PLN 100, or 1%, to PLN 19,800 per sqm.
Prices increased only in Wrocław, up 2% to PLN 15,700 per sqm, and the Tri-City, up 1% to PLN 18,000. Average prices remained unchanged at PLN 17,100 in Kraków, PLN 14,300 in Poznań, PLN 11,400 in Łódź, and PLN 11,100 in the Upper Silesian-Zagłębie Metropolis.
The Warsaw decline reflected the introduction of relatively affordable projects, averaging less than PLN 14,700 per sqm, rather than widespread price cuts. Experts say changes in average prices are driven mainly by the composition of new supply. A record number of available apartments is also limiting upward pressure and strengthening buyers’ negotiating position.