0:33 14 April 2022
Sales of apartments in Warsaw are starting to decline
At the end of the first quarter of this year, there were 13,036 units in the housing offer in Warsaw, 4,857 of which were newly introduced flats. Compared to the first quarter of 2021, the offer of apartments increased by nearly 10 percent, and compared to the fourth quarter of 2021, an increase by 9.28 percent (more by 1,108 apartments). On the other hand, a decrease can be observed in the sale of apartments on a quarterly basis. The average price of apartments is still growing and at the end of the first quarter of 2022 it amounts to approx. PLN 13,300 per square meter, according to the data from the table of real estate services.
The sales results for the first quarter of this year are slightly less pessimistic than expected, compared to the fourth quarter of 2021. 1168 fewer flats were sold in the last three months of the year (-26%).
"This decline is mainly related to the high level of interest rates and the geopolitical situation. I am cautious in making a diagnosis of whether the downward trend will continue due to the ongoing Russian invasion. We will see how the market behaves in the coming quarters, but for now it is possible to be certain that the excellent sales results from last year cannot be repeated," Katarzyna Tworska, managing director of redNet 24, a company specializing in the sale of development apartments, assessed.
(WBJ)
