Since the outbreak of the pandemic, average transaction prices of the most popular apartments in the largest Polish cities have increased by over 20%. – results from the analysis of notarial deeds conducted by the Bankier.pl website. The exception is Gdańsk, where the price of apartments increased by 16%. Łódź turns out to be the record-breaking one, where the increase was over 30%.
Up to 30 percent average transaction prices of the most popular apartments in the largest Polish cities have increased over the last three years. The Bankier.pl website analyzed the amounts entered in notarial deeds for apartments with an area of 35 to 60 square meters.
Apartment prices in the largest cities. Depressing data
It turns out that before the outbreak of the pandemic, on average, almost 5.5 thousand were entered in the files. PLN/sq m in Łódź, 9.4 thousand each PLN/sq m in Warsaw. What is the situation now? The portal reports – citing Cenatorium – that in the second quarter of this year in Łódź there were already over 7.2 thousand. PLN/sq m, and in the capital over 11.5 thousand. PLN/sq m
Threshold of 10 thousand PLN/sq m was still exceeded in Kraków and Wrocław, while in Gdańsk it was only PLN 9/sq m. Apart from Gdańsk, in each of the analyzed cities there was an increase in average transaction prices for apartments with an area of 35 to 60 sq m. in the last three years it has exceeded 20%. (in the capital of Pomerania the increase was 16%). Łódź turns out to be the record-breaking one, with an increase of almost 33%.
What is the situation when it comes to smaller apartments? Premises with an area of less than 35 sq m. prices also increased, the most in Warsaw (by almost 30% compared to the second quarter of 2020).
Bankier.pl notes that apartments with an area exceeding 80 square meters were less susceptible to price increases in the last three years. In Warsaw, the increase – compared to the second quarter of 2020 – was 8.2%. In Gdańsk it was 15.1 percent, and in Łódź 27.1 percent.
The number of construction sites is falling
The portal also draws attention to the decline in apartment construction. In the period from January to August this year, developers started 67,997 construction projects, which means a decrease of 20.1%. compared to the same period in 2022. August itself, however, was not bad in this respect, as developers started the construction of 10,781 apartments – an increase of 16.4%. compared to the previous month and by 107 percent compared to August last year. Individual investors have started building 48,875 single-family houses since the beginning of this year, which means a decrease of 20.5%. on an annual basis.