Apartment prices have skyrocketed and no one seems to be controlling it. We can’t afford to buy our dream “M” – say customers who came to the autumn apartment and house fair in Warsaw. For a million zlotys you can buy a small room, but the offer is very limited. Three-room apartments are much more expensive than they were just a few months ago.
The apartment and house fair, which took place at the Warsaw Expo Hall over the weekend, enjoyed great interest from customers. However, people looking for apartments at attractive prices were quickly brought down to earth. The most frequently asked questions were studios and two-room apartments priced at PLN 15,000-16,000. PLN per square meter real estate. – We have no offers at this price – answered representatives of development companies. Many people left the fair disappointed. They heard from traders that apartment prices may go up further.
Apartment prices in Warsaw. Poor offer below PLN 1 million
On Saturday morning it was difficult to find a free place around the Warsaw Expo Hall. Many drivers walked around the surrounding streets for a long time to park their cars. Some people even needed half an hour to reach the fair. There, however, they were met with another unpleasant surprise. The prices of apartments offered by developers were much higher than those presented in the latest financial reports or those presented by real estate agents in the capital.
There were long queues of people interested in purchasing an apartment at each stand at the fair. Customers most often looked for the smallest premises. – We no longer have studio apartments for sale. All the smallest apartments were sold within the last month – said one of the traders. Only a few companies offered two-room apartments. The prices of these properties reached up to PLN 1 million.
A small cubicle costs almost PLN 1 million. Larger apartments cost a lot
– We are looking for any apartment priced up to PLN 1 million, but at this price the offer is very limited – said Mr. Andrzej in an interview with Wprost.pl. He looked at apartment plans at real estate fairs with his wife, Anna. They both did not hide their surprise at the high prices. The man held three offers from traders in his hand. – We can buy an apartment with an area of 48 sq m. in the Jaśminowy Mokotów investment. However, the cheapest two-room apartment costs PLN 987,000. zloty – added.
The second offer concerned a constructed property in the Solen Kabaty investment in Warsaw’s Ursynów district. Two-room apartment with an area of 46 sq m. costs 983 thousand zloty. In turn, for a three-room apartment with a slightly larger area on the first floor, you have to pay over PLN 1.1 million.
The last offer was for an apartment in Warsaw’s Praga district. – The smallest two-room apartment with an area of 54 sq m. costs 916 thousand zloty – Mr. Andrzej pointed out. In his opinion, apartment prices have skyrocketed so much that you can now buy a small apartment for a million zlotys.
Traders suggest a different solution. Buying a hole in the ground is cheaper
Other customers had a similar opinion and the salespeople advised a different solution. In search of cheaper apartments, i.e. those in the range of PLN 900,000. – PLN 1 million, they encouraged people to purchase the so-called holes in the ground. You can pay slightly less for an apartment in the new stages of the investment, which are still in the investors’ plans, but you have to sign up for the reservation list now.
We managed to find a two-room apartment with an area of 36.5 sq m. at a price of PLN 840,000 zloty. A hole in the ground is currently the cheapest offer. – This is now a sales hit – assured the sellers. The slightly larger ones cost a fortune now. A three-room apartment on the ground floor with an area of 63 sq m, in a good location, costs PLN 1.5 million.
Apartment prices in Warsaw. Prestigious districts only for wealthy clients
Real estate prices in other districts are also not optimistic. The last apartments are on offer in Warsaw’s Mokotów district. “The prices of the smallest apartments remaining on sale, with an area above 90 sq m. they start from 20 thousand PLN per square meter – noted the representative of the development company. This one sentence was enough to make customers waiting in line stop looking at their plans. There is also Drogo in Warsaw’s Ochota district. Here, too, prices for two-room apartments start from PLN 20,000. PLN per square meter
Larger apartments in this district are slightly cheaper, looking at the price per square meter. For three-room apartments, you should expect to pay from PLN 19,300. PLN per square meter, and four-room apartments cost from PLN 18.8 thousand. PLN per square meter This is the cheapest apartment offer in this part of Warsaw, but PLN 1.5 million for a medium-sized apartment is a standard price on the real estate market.
Apartment offers abroad were much cheaper. Half of the hall was rented by companies that offer or broker the sale of real estate in Europe, Asia, Africa and North America.
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