Sellers lower prices. Flats are cheaper all over Poland

The real estate market undergoes another phase of changes – sellers are increasingly willing to reduce the prices of apartments, and buyers have more field to negotiate. According to the Barometer Metrohouse and Credipass report, cited by Bankier.pl, the average transaction prices of apartments on the secondary market in the fourth quarter of 2024 fell from 1 to 6 percent in most Polish cities.

Apartments are cheaper! Buyers may negotiate larger discounts

The data shows that in the largest Polish cities, prices actually paid by buyers dropped by up to 6.3 percent. Quarter to the quarter. Only in Łódź a 1.6 percent increase was recorded, which makes it an exception compared to the five main secondary markets in Poland.

Experts emphasize that this is the first such a clear reduction in housing prices for a year and a half, which indicates further cooling of the market. The declines appeared in the third quarter of 2024 after the termination of the “Safe loan 2 percent” program, and the continuation of this trend has also been visible in recent months.

Sellers are increasingly coming out of the price

Buyers can count on larger discounts – in the fourth quarter, average negotiating capabilities increased in most cities.

The largest discounts could be obtained in Gdańsk (4.4 percent) and Krakow (4.2 percent). At average transaction prices, respectively 12.1 thousand PLN/m² and 14.5 thousand PLN/m², the buyers could save on each square meter from 530 to 600 PLN.

In Warsaw and Łódź, sellers were less likely to negotiate, and the discounts were on average 1.4 percent.

Discounts already at the announcement stage

Sellers are not waiting for negotiations, but at the stage of advertising they reduce offer prices. In Warsaw, the average reductions during the exhibition were 7.2 percent, and in Łódź 5.7 percent.

For comparison, in Krakow, the offer reductions were at 4.6 percent, while in Gdańsk, despite the high negotiating possibilities, prices in the ads fell by only 0.6 percent, which means a decrease from over 5 percent. in the previous quarter.

Supply of apartments at a record level

Although the market is conducive to buyers, the growing number of available offers deepens the gap between demand and supply. In recent weeks, the availability of apartments has increased, and in Warsaw and Krakow the offer has reached the highest level in the history of measurements.

Experts indicate that although prices are falling, not every seller is ready for a significant reduction, and for many buyers the situation on the mortgage market is still a key factor.