Miracles on the rental apartment market. It’s really happening: prices are falling

Real estate prices are breaking further psychological boundaries. In September 2022, the average rate per square meter was PLN 8,986. In September this year it was already 10 thousand. PLN 59/sq m, i.e. 16 percent more. In Warsaw, one square meter costs up to PLN 16,830. Up to the ceiling of PLN 15,000. Gdańsk is approaching PLN (PLN 14,483). In Poznań, the price per square meter exceeds 10,000. zloty. In Krakow, prices increased by as much as 28% during the year. On average, you have to pay PLN 15,794 per square meter.

Will real estate prices start to fall?

It is slightly less in Rzeszów (PLN 9,092) and Białystok (PLN 9,015).

There is no reason to assume that prices will start to fall in the near future. Although there is a chance of a slight decline when more premises enter the market (developers have significantly limited their activities in the last two years, hence there are fewer flats than those willing to buy them), but firstly, this will happen in a year and a half at the earliest, and secondly – It is not known what will happen in the country and abroad over the next several months and what impact it will have on the market. Moreover, the prices of building materials are rising.

Hire. More apartments hit the market

The situation is not so difficult on all fronts. “Puls Biznesu” reports that rental prices are falling, which is due to the large number of apartments that have hit the market in recent weeks. The daily found that at the end of September, the number of rental offers on the Otodom website was 10 percent higher. higher than at the end of August and by as much as 53%. higher year to year. Landlords added almost PLN 20,000 in September. new offers and reactivated 5.7 thousand – the highest since the beginning of 2022. In Wrocław and Poznań, the pool of available premises increased by over 20%, and in the Tricity – by almost 30%.

The calendar also works to the benefit of tenants. Apartments have appeared on the market in Krakow and Tricity and have been rented to tourists for a short period of time over the last few months. After the season, many owners want to find permanent tenants and, at the beginning of the holiday season, offer apartments for short tourist stays again.

Developers went to work

“Safe 2% loan”. started selling apartments. According to data from listed companies, in some cases these are increases of several hundred percent. In the third quarter of this year, Dom Development sold the most units, being the only one to exceed 1,000 units (1,081). This is an increase of 16% compared to the previous quarter. Atal took second place with 760 apartments (an increase of 3%). On the third is Victoria House. The company sold 736 premises, which is an increase of 42%.