Apartment prices in the largest Polish cities have soared again – according to the latest real estate market reports. According to experts, the largest price increases compared to July this year were recorded in Krakow. Higher prices are the result of both the reduction in interest rates and the huge interest in the government program “Safe 2% Credit”.
This news surprised many residents of the capital of Lesser Poland. Real estate in Krakow is one of the most expensive in Poland, and the average price per square meter has broken another magical boundary, approaching PLN 15,000. zloty. However, this is not the end of the concerns of buyers who are still thinking about buying their own apartment. Experts announce further increases in apartment prices. And these change not from quarter to quarter, but from month to month.
Apartments in Krakow and prices in Warsaw
According to recent research on the real estate market, apartment prices in the largest Polish cities have soared again. Price records were recorded in as many as ten agglomerations. To the surprise of many specialists in this industry, the largest price increases were recorded not in Warsaw, but in Kraków, which is already hot on the heels of the capital, competing with it for the lead. In July this year, the average price per square meter of an apartment in Krakow exceeded the ceiling of PLN 14,000. zloty. In turn, in August prices increased by another 5 percent, now you have to pay on average PLN 14,805 per square meter for a new developer’s apartment.
“Where do real estate prices in Krakow come from?” – Internet users ask. Many of them no longer even count on declines in prices of apartments available on the market. “The price increase was caused by huge demand, frozen for many months, which was suddenly released by the “Safe 2% Credit” program.” – say Expander and Rentier.io analysts. “Another reason for the recovery in the real estate market is the reduction in interest rates. As a result, the availability of mortgage loans has improved.” – experts explain in unison.
Real estate market in Krakow. Sales picked up in August
Paweł Podgórski, a Lendi loan expert, speaks in a similar tone. – Apartment prices, both on the primary and secondary markets, are constantly evolving, which makes the decision to buy an apartment more and more complex. – he says in an interview with Wprost.pl. However, no one knows what the scale of subsequent property price increases will be. That’s why many people decided to buy an apartment during the summer months.
“In August alone, developer companies sold almost half as many apartments as in the last year,” argue the authors of another study. It shows that almost every fifth customer (21%) decided to buy an apartment in the range of PLN 9,000-10,000. PLN per square meter More expensive premises were very popular, with 60% choosing them. Every fourth buyer (27%) chose an apartment priced at PLN 10,000-12,000. PLN per square meter, and every third buyer (33%) decided to buy an apartment for PLN 12,000-15,000. PLN per square meter – we read in the report.
These districts are home to most new investments
The data shows that a total of 7.8 thousand cars were sold in Krakow last year. new apartments. At that time, the average price per square meter in this city exceeded PLN 11,800. zloty. Most premises in the developer standard were found in the Prądnik Biały district. The next places were taken by Krowodrza, Podgórze Duchackie, and Płaszów. Also very popular among buyers were: Bieżanów Prokocim, Prądnik Czerwony, Bronowice, Stare Miasto and Czyżyny. The least amount of new investments took place in Swoszowice.
The revival in the real estate market during the holidays introduced many changes in the ranking. In August, more than half of the developer apartments sold were purchased in four districts. Most customers decided to buy an apartment in the Prądnik Biały district. In this northern part of the former capital of Poland, 18 percent was sold. new apartments. The next places were taken by other popular parts of the city: Mierzejowice (13%), Podgórze (13%) and Prądnik Czerwony (10%).
Apartments in the capital of Małopolska. The highest prices are in these districts
As calculated by the SonarHome agency, in September the number of available real estate offers on the market decreased by almost 10%. compared to the previous month. “The most expensive district in Krakow is the Old Town” – experts point out. The average price of an apartment in this part of the city is currently over PLN 16,000. PLN per square meter, but prices vary greatly depending on the street. You can find an apartment for PLN 11,000-12,000. PLN per sq m, while the most expensive offers range from PLN 27,000 to PLN 30,000. PLN per square meter studio apartments.
The Grzegórzki district also enjoys great prestige among residents, where the average price of a square meter of apartment is PLN 14,860. The Zwierzyniec district took third place on the podium. There, you also have to reach deeper into your wallet to buy your dream apartment. As the authors of the study argue, the average price of an apartment in this district is PLN 14,158 per square meter.
People looking for cheaper real estate offers most often choose Wzgórza Krzesławickie, Swoszowice or Nowa Huta. On average, a square meter of an apartment in the Wzgórza Krzesławickie district costs PLN 8,636. According to experts, this area offers the cheapest apartments in the city. A bit more expensive, PLN 9,583 per square meter. you have to pay for apartments in the Swoszowice district. In turn, with an expenditure of PLN 9,932 per square meter. the area of the apartment must be taken into account by customers who want to live in the Nowa Huta district. The lowest apartment prices in these districts are more than twice as high as the cheapest apartments in Silesia.