Apartment sales are slowing down. Experts point to two reasons

Apartment sales are slowing down.  Experts point to two reasons

In April, developers sold 15 percent more. fewer apartments than a year ago and by 4%. less than a month earlier. One of the reasons for this state of affairs is the expectation of a new government housing program.

Data from the Otodom Analytic website reported by “Rzeczpospolita” show that in April, developers sold 3.7 thousand apartments in the seven largest cities. This is 4 percent less than in March and as much as 15 percent less than in the same period last year. year.

Last month, just like in March, companies introduced many more premises to their offer than they sold. It was almost 6 thousand. premises, by almost 10 percent. less than a month earlier. As a result, at the end of April, the offer in the seven largest cities included 45.4 thousand. premises, by 13 percent more than at the end of April 2023.

Why the slowdown in apartment sales?

The newspaper points out that the situation in individual cities varies greatly. In Kraków and Poznań, sales declines exceeded 20 percent in April. compared to March, while in Warsaw it was 3%. In Wrocław, there was an increase by 33%. In the capital of Lower Silesia – similarly to Warsaw – there was an increase in the number of premises introduced to the offer by 50%.

Ilona Łyżczarz, an Otodom Analytics expert, quoted by the daily, claims that the sales slowdown is probably temporary, and the current state is the result of, among others, waiting for the “Na start” program, which results in postponing the decision to buy an apartment (the program is to be launched in the second half of the year), as well as high prices of premises.

In Warsaw, the level of 17,000 was exceeded. PLN per square meter In Krakow, the average rate is PLN 15.5 thousand. PLN per square meter In the Tricity it is 14.5 thousand. zloty.

Prices won't drop?

Otodom Analytics analyst Marcin Krasoń forecasts that apartment prices will not drop significantly in the coming quarters. – Although I do not expect the new borrower support program to have as strong an impact on prices as “Safe Credit”, but looking at the development market, one should remember about the change in technical conditions (including dilution of new buildings), which will increase construction costs . At the same time, sales, although lower than in the good months of 2023, remain at a good level – explains the expert.

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