“After the weaker June, July brought clear revival in the development sector” – indicates the Polish Association of Development Companies (PZFD). He cites the GUS data published on Thursday, which shows that the construction of nearly 12,000 apartments – more than 35 percent more than a month earlier.
Developers also obtained a record number of building permits this year, reaching 16.8 thousand. premises.
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“Although in an annual basis, the scale of new investments still remains lower, July results may be a signal that the market is preparing to improve credit accessibility and future increase in demand” – we read in the PZFD analysis.
Apartments from developers. Started investments
According to the Central Statistical Office in July, In the development sector, the construction of over 11.9 thousand began. new premises, which means a positive reflection relative to the very poor result observed in June, when there were 8.8 thousand. flats.
PZFD indicates that housing builders are currently in front of a difficult, systemic decision that comes down to assessing the risk of launching new investments in the surroundings of the largest market offer of apartments on the primary market in history.
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“On the one hand, we are observing a lot of competition for the client. On the other, however, the horizon shows the prospect of improving credit accessibility and a potential increase in demand, which can be an impulse to maintain the current pace of new investments” – comments Patryk Kozierkiewicz, legal advisor in the Polish Association of Developer companies.
Simultaneously The result of introductions to apartments in the first seven months of this year was 13.2 percent. weaker than in the same period 2024.
Housing market. Building permits
While in the first seven months of the year, developers obtained permission for construction in the offices by 23 percent. less investments than in the same period a year earlier, Last month is a positive anomaly in this respect. In July, developers were issued a building permit for 16.8 thousand. premises, which is a result of over 3,000 higher than in the best this year March.
“It is too early to talk about the reversal of a negative trend, but undoubtedly observing in the following months data on building permits may be a hint as to the future investment plans of the sector. At the same time, it should be remembered that obtaining a permit does not oblige to immediately introduce the investment on the market and start construction ” – notes PZFD legal advisor.
Permits for the use of apartments. New GUS data
In July, developers put over 11.5 thousand. new premises. The difference between apartments put into use this year and in the same period of 2024 remained again at the level – 2.9 percent.
“Similar results are not surprising due to the almost identical number of investments started in 2022-2023 and the fact that, according to the CSO data, the average period of construction of a multi-family residential building takes less than two years. A much more sensitive barometer of current moods of the industry is, however, data on the investments and issued building permits”-indicates PZFD.
