Apartment prices on the secondary market. This city is the cheapest metropolis

In September, buyers’ attention largely focused on the primary market when developers revealed the prices of all new apartments. There was much less excitement on the secondary market – according to data from GetHome.pl, the average price per square meter remained stable in most Polish metropolises.

– Many potential home buyers are probably currently faced with a dilemma: should they buy new or second-hand? On the one hand, some developers lower prices or give significant discounts. On the other hand, the secondary market still beats the primary market in terms of the availability of apartments for an average budget, says Marek Wielgo, an expert at GetHome.pl.

In his opinion, the fight for customers is heating up on the housing market, because sellers of used apartments also show flexibility in negotiations with potential buyers. Price reductions at the offer stage are also not uncommon.

September, stabilization on the secondary market

As a result, September was another month of stabilization of the average price per square meter. Data from the GetHome.pl portal show that its level from August was maintained in Kraków (approx. PLN 16.6 thousand/sq m), Wrocław (PLN 14.2 thousand/sq m), Tricity (approx. PLN 15.9 thousand/sq m), Łódź (approx. PLN 9 thousand/sq m) and Poznań (approx. PLN 11.7 thousand/sq m). sq.). By 1 percent the average price per square meter dropped in Katowice (to approximately PLN 11,600/sq m) and increased by the same amount in Warsaw (to just over PLN 17,900/sq m).

As the expert notes, in Warsaw, Kraków, Wrocław and Łódź the average price per square meter of apartments available on the secondary market was lower than a year ago.

Łódź is still the cheapest metropolis

Łódź dominates the secondary market and is the leader in price increases. According to the GetHome.pl portal, in September the prices of used apartments per square meter increased on average by 4%. more than in the same period last year. Average increase by 3%. the portal recorded in Katowice and by 1%. – in Tricity. However, in other metropolises it is cheaper than a year ago – in Krakow the reduction reached 5 percent in September, in Poznań 3 percent, and in Warsaw and Wrocław 1 percent.

It is worth mentioning that Łódź is still the cheapest metropolis.

– This is most likely due to the fact that the offer still includes a large share of apartments in PRL blocks of flats and old tenement houses. A large increase in the average price per square meter of second-hand apartments may therefore be the result of equalizing the difference, among others. as a result of the growing percentage of new premises, a lot of which have been built there in recent years – explains Marek Wielgo.

September increase in offers on the secondary market

The analysis shows that after three months of a decline in the number of apartments available on the secondary market in Warsaw, and after five months – in Łódź and Poznań, September brought an increase in the offer there. According to the real estate portal search engine Adradar, the number of unique offers increased by 3%. in the capital (up to 17.9 thousand premises) and Poznań (up to 4 thousand) and by 2 percent. in Łódź (up to 5.4 thousand). The choice of apartments has not changed in Katowice (approx. 2.4 thousand apartments), Tricity (8.4 thousand) and Kraków (8.9 thousand). In Wrocław, September was the sixth month in a row in which the number of apartments shrank, this time by 3%. (up to 9.4 thousand apartments).

– While September brought an increase in demand for apartments on the primary market, there is still no clear recovery on the secondary market – admits Wielgo.

According to the expert, Adradar’s data may indicate this – 31.5 thousand units disappeared from the market in September. unique offers for sale of apartments, i.e. by 2%. less than in the holiday August and as much as 14 percent. less than a year ago. At the same time, 32.5 thousand appeared in September. new offers. As a result, 151,000 were available for purchase throughout the country. used apartments, i.e. by 1%. more than in August.

Secondary market – forecasts and expectations

According to the expert, after this year’s three interest rate cuts, apartment sellers cannot count on a sudden increase in demand.

– The availability of loans is simply still too low for many potential buyers. On the other hand, there will probably be more apartment buyers. Those who have adequate creditworthiness are returning to the market, but they have been postponing the decision while waiting for an additional loan payment or further reductions in interest rates – explains Wielgo.

In his opinion, further suspension no longer makes sense, because there will be no subsidies and further rate cuts will probably not occur soon.

– In addition, the government announced that banks will be subject to a higher CIT tax from 2026, which they can compensate for by increasing loan margins – comments an expert from the GetHome.pl portal.