It may seem that the amount of our earnings is crucial when buying an apartment. However, what is more important than the monthly inflows into the account is the ratio of earnings to real estate prices. In which cities is the ratio of wages to housing prices the most favorable, which makes it easier to buy a flat?
– According to the Central Statistical Office data, Kraków, Gdańsk, Warsaw and… Katowice were tempted by the highest salaries. In turn, they were the lowest in Lublin, Łódź and Bydgoszcz. As it turns out, high earnings do not always go hand in hand with high real estate prices, an example of which is Katowice – says Marek Wielgo, expert of the GetHome.pl portal.
Experts from the RynekPierwotny.pl and GetHome.pl portals have prepared the Apartment Availability Ranking for the second time. In the ranking, they took a closer look at the 10 largest cities in Poland, checking, among other things, the relationship between housing prices and earnings. In which city can we buy the most square meters for an average salary?
Katowice’s result certainly draws our attention
It is the capital of Upper Silesia that is characterized by the most favorable ratio of apartment prices to earnings. In June 2023, the average gross salary could buy 0.87 square meters of real estate in development construction.
Bydgoszcz also looks very good, where the average price per square meter still does not exceed PLN 10,000. zloty. Although it was similar in Lublin and Łódź, these cities look the worst compared to others in terms of earnings.
The smallest area of a new apartment for an average salary could be bought in June this year by the inhabitants of Warsaw – only 0.59 square meters. This is hardly surprising, because although it is easiest to find a well-paid job in the capital, real estate prices can be dizzying.
Where is the easiest place to buy an apartment?
In their Apartment Availability Ranking, RynekPierwotny.pl and GetHome.pl experts, in addition to the ratio of square footage prices and earnings, took into account the size of the residential real estate offer and the square footage that an average household can buy on credit in the current conditions. Taking all these criteria into account, Katowice ranks best in the Housing Availability Ranking.
As Andrzej Prajsnar, an expert of the RynekPierwotny.pl website, says, Katowice’s victory is certainly related to the high level of average wages, which is influenced by the local mining sector. – This is the specificity of the capital of Upper Silesia, which must be taken into account. Similar reservations are unnecessary in the case of Gdańsk and Bydgoszcz, i.e. those cities that also achieved a much better result than the rest of the group. It is worth mentioning that Bydgoszcz is the leader of last year’s housing availability ranking prepared on exactly the same principles – says Prajsnar.
The final results of the new apartment availability ranking are as follows:
Katowice – 100 points
Bydgoszcz – 96 points
Gdańsk – 90 points
Wrocław – 84 points
Lublin – 83 points
Poznań – 83 points
Kraków – 82 points
Łódź – 82 points
Warsaw – 72 points
Szczecin – 72 points