Average offer prices of apartments on the secondary market in the largest Polish cities increased by 0.5% in March. compared to February and by 3.6 percent per year – according to the latest analysis of the Morizon-Gratka Group.
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Secondary market: prices are starting to rise
Market analysis shows that After a period of stagnation and cosmetic changes, prices of second-hand apartments began to increase again. Monthly changes are still small and within fractions of a percent (except for Olsztyn), but on an annual basis in some cities the increases exceed the level of a symbolic correction. In Poznań, Olsztyn, Bydgoszcz and Gdańsk, average asking prices have increased by 4.9% over the last 12 months. up to 6.5 percentwhich translates into an increase in the price per square meter by over PLN 500.
The situation is much more stable in Białystok, Wrocław and Warsaw, where annual increases do not exceed 2%, i.e. approximately PLN 200 in nominal terms.. In Łódź, the average asking price per square meter was symbolically lower in March than a year ago – it dropped by PLN 13.
In Kraków, Katowice, Lublin and Szczecin, apartment prices increased by approximately 3%.which corresponds to the annual inflation rate.
However, it is worth noting that increases in offer prices observed in advertisements are still compensated by widespread discounts negotiated at the finalization of the transaction. The final purchase price of the apartment is usually several to several percent lower than the original offer price.
Housing prices: what's next?
Today, it is difficult to clearly assess whether the current upward trend will continue and to what extent it will be uniform. The last few weeks have brought slowdown in the supply of new housing offers from the secondary market. Growing buyer demands may limit the number of transactions concluded and lead to further price differentiation — older apartments, of a lower standard and in less attractive locations may become cheaper, while modern apartments in new buildings, finished to a high standard and with amenities (such as a garage or elevator), may become more expensive.
