Ready apartments more expensive than under construction? Surprising data

In the largest cities by as much as 56 percent The number of ready apartments that can be bought from developers has increased over the past 12 months. Despite this, Poles still prefer to buy the proverbial “hole in the ground”. Experts of the RynekPierwotny.pl portal have examined what is more profitable now.

According to BIG Data Rynekpierwotny.pl, at the end of June this year, development companies operating in the seven largest metropolises (Warsaw, Krakow, Wrocław, the Tri-City, Łódź, Poznań and Górnośląsko-Zagłębiów metropolis) was a total of about 77.7 thousand apartments. Nearly 12.4 thousand of them were available for purchase, because – according to developers’ declarations – they had the status of use. Importantly, in the last 12 months, both the number of apartments in the offer (by 40 %) and the number of ready premises increased there, and by as much as 56 percent! It also increased from 14 percent. up to 16 percent Their participation in the offer of development companies. However, there were large differences in the analyzed metropolises. For example, in the Tri -City, the offer of ready -made premises has shrunk. However, in Krakow, it increased, although at the same time their participation has become clearly decreased.

– You can see that apartments under construction are still more popular among buyers, and often at its early stage – comments Marek Wielgo, an expert of the RynekPierwotny.pl portal.

Housing prices – large differences between cities

The most extreme example of this is Warsaw, in which as much as 84 percent apartments, for which developers found in June, is under construction. At the same time, over half of these premises are to be completed not earlier than in a year, and some – in over two years. In turn, in the Upper Silesian-Zagłębie metropolis, the percentage of “holes in the ground” (with the date of commissioning over a year) among the apartments sold in June was 47 percent, in the Tri-City-45 percent, in Krakow-34 percent, in Wrocław-30 percent, in Poznań-22 percent, and in Łódź-15 %

Why are there not so many volunteers for ready apartments? After all, you can see them before buying, assessing the quality of workmanship and layout of rooms, which is their undoubted advantage. Uncertainty related to the completion date of construction is also falling off. For those who hire flats, the possibility of quick move to their own M. In turn, those who invest in apartments for rent can start earning on them faster.

Ready premises are often more expensive than “holes in the ground”

The problem is that in the completed investment, premises with a larger area and unit price are usually left.

Marek Wielgo points out that in the investment the selection of apartments is the largest, but it may also be important that the developer will agree to free changes in the layout of the walls or internal installations. In addition, once the purchase of an apartment at the proverbial hole in the ground was at risk. Currently, all apartments available in the offer of development companies are protected by the developer guarantee fund, which gives the buyer a sense of security.

From the point of view of buyers, of course, the price is also important. There are many very expensive among ready and unsold housing. Therefore, e.g. in Warsaw, the average price of apartments on the primary market exceeded the ceiling of 18 thousand in June. PLN/sq m, but at that time ready premises offered by Warsaw developers cost on average about 20 thousand. PLN/sq m higher than the average price of the sq m of ready apartments than all developers on offer, we also noted in Krakow (approx. PLN 16.9 thousand/sq m), Wrocław (nearly PLN 15.6 thousand/sq On the other hand, on average, lower than the average for the entire offer, the prices of ready premises in the Upper Silesian-Zagłębie metropolis (about PLN 9.5 thousand/sq m), Łódź (less than PLN 10.4 thousand/sq m) and Poznań (PLN 13.1 thousand/sq m) are.

When does the purchase of a finished apartment pay off?

In the first group of metropolises, among ready apartments, developers were most likely more expensive, for which it is more difficult to find buyers. In the second group of cities, the choice in the pool of ready apartments is still large. Does this mean that it is not worth hurrying? It depends on the individual preferences of buyers.

There are developers who want to close a given project and offer attractive discounts to avoid the costs of maintaining unsold real estate. On the other hand, in recent months, in the metropolis part of the metropolis, the developers have introduced much cheaper apartments on the sale of sq m.

In Warsaw, apartments with a commissioning date for over a year cost an average of about 17.6 thousand. PLN/sq m, in Krakow – 16.5 thousand PLN/sq m, in Wrocław – 14.9 thousand PLN/sq m, and in the Tri -City – 17.36 thousand PLN/sq.

On the other hand, those who are looking for an apartment in recently started investments in the Upper Silesian-Zagłębie metropolis (nearly PLN 13.1 thousand/sq m), Poznań (PLN 14.5 thousand/sq m) and Łódź, where apartments for over 2 years, developers wish almost 12.2 thousand. zloty.

Marek Wielgo, expert on the RynekPierwotny.pl portal