New apartments are breaking price records. Check where the prices have increased the most

In February, Warsaw and Poznań were the only metropolises where the average price per square meter of apartments offered by developers increased. In the cities of the Upper Silesian-Zagłębie Metropolis, the average decreased, while in other metropolises it remained at the January level – according to preliminary data from BIG DATA RynekPierwotny.pl.

– 20 thousand PLN per square meter in Warsaw is no longer science fiction. If developers continue to introduce extremely expensive apartments for sale, while simultaneously reducing the supply of relatively cheap ones, this ceiling may be exceeded this half-year – explains Marek Wielgo, an expert at the RynekPierwotny.pl portal.

Higher apartment prices in Warsaw and Poznań

In January, the average price per square meter of apartments in Warsaw increased by 4%, exceeding PLN 19,000. zloty.

– At that time, the market included, among others: apartments in the Liberty Tower skyscraper with prices from PLN 29,900. up to 45 thousand PLN per meter. In February, two even more expensive investments appeared on sale, although with a much smaller pool of apartments. In the first one, the developer priced them from PLN 28,000. up to 54 thousand PLN per meter, and in the second one, which is supposed to be an icon of luxury – from PLN 54.6 thousand. up to 80.4 thousand zloty. It is being implemented in Warsaw’s Wola district by Monting Development, co-owned by Robert Lewandowski, explains Marek Wielgo.

As a result, according to preliminary data from BIG DATA RynekPierwotny.pl, the average price per square meter of all apartments offered by Warsaw developers increased by 1% in February, approaching the level of PLN 19.4 thousand. zloty.

Similar, 1 percent an increase was recorded in Poznań.

– Until the ceiling of PLN 14,000 is exceeded. PLN per square meter contributed to this city by an investment in which apartment prices range from PLN 15,300 to PLN 24,500. PLN per meter – notes the expert.

Cheaper in the cities of the Upper Silesian-Zagłębie Metropolis

However, not everywhere developers focused on premium investments for very wealthy clients. Relatively cheap apartments appeared for sale in the cities of the Upper Silesian-Zagłębie Metropolis. There were so many of them that the average price per square meter in the entire offer dropped by 1%, to just under PLN 11,300. zloty.

In other metropolises, February brought price stabilization:

• Tricity: 17.7 thousand zloty

• Kraków: 16.9 thousand zloty

• Wrocław: 15.3 thousand zloty

• Łódź: 11.5 thousand zloty

Annual trends and oversupply of apartments

On an annual basis, in February Łódź was the only metropolis where the average price per square meter of new apartments did not change. In the cities of the Upper Silesian-Zagłębie Metropolis, the increase was only 1%. The RynekPierwotny.pl portal expert emphasizes that there is an oversupply of apartments in both of these regions. This means that it would take over two years to liquidate the entire offer at the current sales rate.

– In other metropolises, the average price per square meter of new apartments was higher in February than a year ago: by 3%. in Kraków and Wrocław, by 4%. in Poznań, by 8 percent in Tricity and by 9 percent in Warsaw – says Wielgo.

Warsaw: more expensive and less accessible

Warsaw developers’ offer included almost 5,000 in February. apartments with a price exceeding PLN 20,000 PLN per square meter. Their number increased by over 20% within two months of this year, and their share in the total offer increased from 24%. up to 29 percent

The problem is that at the same time, the availability of premises at more affordable prices has deteriorated – up to PLN 15,000. PLN per square meter. According to BIG DATA RynekPierwotny.pl, the offer of such apartments is almost 5.1 thousand. at the end of February – it shrank by 8%, and their share in the offer dropped from 33%. to less than 30 percent

– The situation on the housing market is dynamic. It is worth observing price trends to make purchasing decisions based on data and not emotions, which were heated by the “release” of transaction prices from the state Register of Real Estate Prices in February – comments Marek Wielgo.