Chaos on the real estate market continues. Apartment prices in the largest Polish cities have skyrocketed, and yet apartments quickly find buyers at the stage of construction or holes in the ground. To buy their dream “M”, some clients decide to book apartments at the stage of creating their plans. Today they are making reservations to receive the keys to their premises in a few years. According to experts, the new trend not only spoils the real estate market, but also contributes to higher and higher apartment prices.
Sales office of one of the development companies located in a prestigious district of Warsaw. Several dozen meters away, heavy equipment begins construction work. “The next stage of our housing estate is to be built here” – explains the sales representative. The elegant folder contains descriptions and plans of apartments, including the most sought-after two- and three-room apartments. In total, several dozen apartments of a higher standard will be built.
“The housing estate isn’t there yet, and there are no apartments?” – asked one of the interested customers. Other people who visit the office learn that there are only a few large apartments left in the new investment, each priced at over PLN 20,000. PLN/sq m The remaining apartments found buyers very quickly. According to the trader, most of them were booked by investors, regular customers of the company. “The cheapest apartment costs over PLN 2 million” – he adds.
A new trend in the real estate market. Customers sign up for a waiting list
The seller informs customers about the company’s next planned investment, which will be built in a neighboring district. “This is a very good location” – he says, pointing to the next construction site on the map. “You can sign up for the waiting list” – he points out. Although this is a dream of the future, the A4 sheet of paper is already half filled with personal data, e-mail addresses and telephone numbers. The mere information that customers will be the first to receive apartment plans with visualizations acts like a magnet on them. People from the list will also have priority in choosing premises.
A few hundred meters away, similar conversations can be heard in a competing development company. The offer on the company’s website is no longer valid, all apartments are sold or reserved for credit customers. However, this does not discourage those interested, as there are already the first interested parties for the company’s next planned investment in the Włochy district.
Customers are asking about apartment plans, but there are none yet. It is also not known when construction will start or how much the apartments will cost. A conversation between a middle-aged couple and a salesman shows that they are looking for a two-room apartment priced up to PLN 1 million. They leave contact details, asking for contact.
Real estate market. Customers are asking about apartments that are not available yet
The planned investment in Warsaw’s Śródmieście district is also very popular. Although construction has not even started yet, customers are already asking about the cheapest apartments. For a studio apartment, or rather plans for it, you have to pay just over PLN 1 million. Below this amount there is nothing to look for here.
In the place where the apartment building is to be built, there is also an office building that is scheduled for demolition. On it is a large sheet advertising a new investment. Prices of current apartment plans start from PLN 35,000. PLN per square meter The largest premises with an area of 155 square meters will cost several million zlotys.
Few completed apartments at real estate markets
Similar scenes could be observed at the last real estate fair, which took place in October at the Warsaw Expo Hall. Despite the fair, the offer of development companies was very limited. For almost a million zlotys you can buy small rooms in several investments. In turn, three-room apartments could be purchased for up to PLN 1.5 million. Larger premises were much more expensive than they cost just a few months ago.
Customers chose apartment plans most often for two reasons. – First of all, there is a chance that we will buy the apartment we are looking for, and not the one offered by the development company. – said Mr. Andrzej in an interview with Wprost.pl, who looked at the apartment plans at the fair with his wife Anna. – Secondly, the prices of constructed apartments are much more expensive than those planned to be built in a few years – added.
According to salespeople, there is another reason that customers are not very willing to talk about. Many of them are afraid of further increases in real estate prices. – There is no point in counting on stabilization of housing prices. Our reports show that apartments will not be cheaper – they claim.
Customers are looking for cheaper apartments. Those already built are more expensive
The couple did not hide their surprise at the high prices of apartments in Warsaw. The man held three offers from traders in his hand. In the first one, for a two-room apartment with an area of 48 sq m. square meters in the Jaśminowy Mokotów investment would have to pay PLN 987,000. zloty.
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. It was then priced at PLN 983,000. zloty. The last offer was for an apartment in Warsaw’s Praga district. As Mr. Andrzej pointed out then, the cheapest two-room apartment with an area of 54 sq m cost PLN 916,000. zloty.
You can find a cheaper and smaller apartment. You have to wait several years for the keys
Our interlocutor finally found a smaller, two-room apartment with an area of 36.5 sq m, priced at PLN 840,000. zloty. Cheaper offers for purchasing an apartment, however, meant purchasing the property at the stage of a hole in the ground or apartment plans. — This is now a sales hit – assured the sellers. However, you will have to wait at least two years for a cheaper apartment.
Last month, one of the investors who was to build a shopping mall in Miasteczko Wilanów announced that he intended to change his plans for the intended use of this area. Instead of a shopping mall, mixed-use apartments would be built on a large plot between Gieysztora and Przyczółkowa streets.
Preliminary information shows that the developer plans to build over half a thousand such premises. Not only district councilors were interested in the matter. The first calls or inquiries from customers interested in apartments appeared the very next day. To meet all the demand, the company would have to build several times more apartments in this area.