Last year, 209,000 were put into operation in Poland. new apartments, i.e. by 4.3 percent more year to year. The results from 2020-2024, when buyers received the keys to 221,000 to 238,000. However, there was a shortage of places. January this year brought the weakest result since 2016 and 14.7 thousand. new apartments. This does not prevent us from achieving record profits.
Dom Development reported its results on Tuesday and looking at the profits, one could say that there is no crisis. It is true that sales in the fourth quarter of last year decreased by 4.6 percent to PLN 1,255 million, but the profit increased by 2.4%. to a record PLN 279.9 million. The company has never earned so much before.
The previous record was set in Q4 2024 and amounted to PLN 273.3 million, and a year earlier an even earlier record of PLN 200 million was set. Moreover, the result came to the top, although employment increased by almost 7%.
The stock exchange received the records quite coolly, even though they were also broken by 3.3%. profit forecast of analysts polled by PAP. Shares fall 1%. up to PLN 238.
Throughout 2025, Dom Development earned PLN 654 million net, i.e. 15%. more year to year and this is also a historical record. Revenues were also record-breaking and amounted to PLN 3.3 billion, i.e. 2.8 percent. more y/y
Although employment increased, average wages decreased by 2.5%. The management board, now headed by the new president, Mikołaj Konopka (long-time president Jarosław Szanajca moved to the supervisory board), took much less for his remuneration, over PLN 17 million instead of over PLN 21 million a year earlier. Record profits were accompanied by a record dividend of PLN 361 million and record taxes of PLN 337 million, PLN 25 million higher year on year.
Record margins on apartments
In 2025, Dom Development sold 4,448 apartments (4% more than the previous record set in 2024), handed over 4,228 apartments to buyers (8% more y/y than the previous record), and at the end of the year it had 7,166 under construction, of which 56%. it was already sold. The gross margin on sales, i.e. sales revenues minus construction costs, increased to 34.4%. with 32.2 percent a year earlier.
“In a situation when many of our competitors are struggling with oversupply, the vast majority of the apartments we offer find buyers already at the construction stage, the percentage of ready apartments in our offer remains at a low, single-digit level,” writes president Mikołaj Konopka in a letter to shareholders.
The company allocated PLN 840 million for the purchase of new land, which is PLN 280 million more year on year. The president announced that the company is preparing to achieve over 5,000. sales of premises annually in the following years.
The group focuses its activities on the four largest residential markets in Poland: Warsaw (13.2 percent of the market share), Tricity (12.5 percent of the market), Kraków (7.8 percent of the market) and Wrocław (12.4 percent of the market). Apart from Krakow, it is number one on the market in other cities. It mainly offers premises from the popular segment with a higher standard and apartments.
“This structure of the offer allows us to obtain above-average margins while maintaining high sales volumes,” we read in the financial report.
Of the 4,350 construction sites started in 2025, Dom Development 2,041 were in Warsaw, 1,087 in the Tricity, 727 in Wrocław, and 495 in Kraków. The largest investment that has been started is the Metro Zachód Residential District, Stage 8 in Warsaw, which will include the construction of 222 apartments. The largest one completed last year. construction site is Osiedle Przy Ryżowej Phase 2, in which 254 apartments were completed.
