Compared to September this year changes in prices per square meter of apartments on the secondary market were minimal. In Szczecin, the rates remained unchanged, and in the remaining eleven cities, monthly fluctuations did not exceed a fraction of a percent.
On an annual basis, i.e. compared to October 2024, prices increased in nine cities and decreased in three. The largest increase was recorded in Bydgoszcz – by almost 5%. Katowice, Gdańsk and Lublin were also at the forefront in terms of increases, with 4.1% and 3.7% respectively. and 3.6 percent In contrast, in Łódź prices dropped by 0.3 percent, in Warsaw by 0.5 percent and in Kraków by 1 percent.
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The authors of the report emphasized that price increases in several cities, exceeding 3%, are not due to greater demand. Experts note that although the number of people actively looking for apartments has increased, the wide offer on both the secondary and primary markets does not justify price increases. On the contrary, in many cases a price reduction is a key factor in attracting the attention of potential buyers.
According to the report, the increase in average rents in selected cities is related to a greater share of relatively new apartments and luxury apartments, which are more expensive, in the offer. In turn, the predominance of supply over demand and the dominance of customers looking for premises for their own living needs favor price differentiation. Properties in attractive locations and a higher standard sell faster, sometimes even above the asking price. However, apartments in worse condition, non-functional or requiring major renovation, consistently become cheaper due to lack of interest.
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Experts also drew attention to the impact of the decision of the Monetary Policy Council, which reduced interest rates five times this year, increasing the availability of mortgage loans. Still, these changes did not translate into a significant increase in demand on the housing market.
— Customers searching for offers are very careful when making decisions. Any purchases are made carefully, after careful comparison and analysis of various offers, emphasize the authors of the report. They add that stabilizing prices and reducing investment demand, combined with the belief that it is possible to find the perfect offer, calm down the market situation.
