Warsaw is breaking records in apartment prices. The expert explains what is behind the increases
January brought a significant increase in the average price per square meter of new apartments in Warsaw – by as much as 4%, to approximately PLN 19.1 thousand. zloty. This is the first time that the capital's market exceeded the 19,000 capacity mark. PLN per square meter
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As Marek Wielgo, expert of the RynekPierwotny.pl portal, explains, the key factor was the appearance of very expensive apartments on offer.
– They hit the market in January premises whose average price per square meter was approx. PLN 24.4 thousand zloty. They drove up the average, not widespread price increases from developers, the expert emphasizes.
Share of apartments priced above PLN 20,000 PLN per square meter increased in Warsaw from 24%. up to 28 percent The new investments included, among others: apartments in a skyscraper Liberty Towerwhere over 40 percent premises are studio apartments.
According to Marek Wielga, it is an announcement of a long-term change in the supply structure.
— With such high prices, an increasing part of the offer will consist of studios and two-room apartments, purchased by singles and childless couples. Families with children will be increasingly pushed to the outskirts of cities and suburban areas – assesses.
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Apartment prices in metropolises: increases without real increases
A similar mechanism worked in other large centers. The average price per square meter increased:
- in Tricity by 1%, to 17.7 thousand. zloty,
- in Kraków by 1%, to 16.9 thousand. zloty,
- in the cities of the Upper Silesian-Zagłębie Metropolis by 1%, to 11.4 thousand. zloty.
In each of these cases, the increase was mainly due to putting relatively expensive apartments on sale, and not from broad price increases.
It was different in Poznań and Łódź, where the number of expensive new products was too small to influence the average. Prices there stopped at approximately PLN 13,900. PLN and 11.5 thousand PLN per square meter The average price also remained at the December level – for the fourth month in a row in Wrocław (PLN 15.2 thousand).
However, on an annual basis, prices are higher in all metropolises: from 1 percent. in Łódź to as much as 11 percent in Tricity. Warsaw grows by 8 percent, Poznań by 4 percent and Wrocław by 3 percent.
The availability of cheaper apartments is shrinking the fastest in Warsaw and Tricity
The most disturbing changes for buyers are the changes in the segment of more affordable apartments, i.e. in the range of PLN 12,000-15,000. PLN per square meter
In January:
- in Warsaw, the offer of such premises decreased by 4%,
- in Tricity by 2 percent
Simultaneously in Tricity, the share of apartments priced above PLN 20,000 is growing. PLN per square meter – within 12 months from 24 percent up to 33 percent This means that the average is increasingly being “pulled up” by apartments in the best locations.
The situation is different in Krakow, where the offer of apartments ranges from PLN 12,000 to PLN 15,000. PLN per square meter increased by over 3%, but premises priced up to PLN 10,000 almost disappeared. PLN per square meter
In Warsaw and Tricity you can still find apartments below PLN 10,000. PLN per square meter, but – as analysts emphasize – these are mainly peripheral locations.
The lesson for buyers is simple: price sensitive people they should not postpone the decision for too longbecause the pool of relatively cheaper apartments in the largest cities is systematically shrinking.
