Warsaw housing market among the cheapest in Europe

For €200,000 one can buy a 163 sqm flat in Poland and a 114 sqm unit in Warsaw, compared with 11 sqm in central London, according to a new Deloitte Property Index, a comparative report regarding residential markets and housing across Europe. The index analyses factors influencing the development of residential markets and compares residential property prices in selected (not only) European countries and cities. This year it answers the question: “What size dwelling can you buy for €200,000?” This allows for observation and comparison of residential markets with a new perspective. The highest average sizes of new dwellings were recorded in cities from the CEE and Eastern Europe. The winner of this comparison was Debrecen with 201 sqm.  Only non-capitals were situated at the end of the ranking list. Large apartments are affordable in Györ (188 sqm), Łódź (183 sqm) or Ostrava (168 sqm). Less affordable living was observed mainly in the capitals of Western and Central Europe, for example Brussels (69 sqm), Madrid (67 sqm), Berlin (63 sqm), Rome (58 sqm) or Amsterdam (55 sqm). The lowest average size of a new dwelling for €200,000 is in Central London (11 sqm), followed by Paris (19 sqm). Even despite the recent price growth, Hungary, Portugal and Poland are the only countries, besides Russia, with a price mark around the level of €1,000 /sqm.