During the year, apartment prices increased the fastest in Krakow. In two provincial cities in Poland, the average metro price exceeds PLN 15,000. PLN, the barrier will soon be crossed also in Gdańsk. Until more apartments hit the market, prices will continue to rise.
Experts from rankomat.pl analyzed real estate prices in the third quarter of this year. based on data from the RynekPierwotny.pl and GetHome.pl websites. In the analysis, they took into account data on the primary and secondary markets in 16 provincial cities and compared prices from September 2022 and 2023.
Apartment prices on the primary market
Apartments have become more expensive in all large cities (they went up by 16% on average), and those planning to buy in Krakow found themselves in the most difficult situation – the prices of new apartments increased by 28%. On average, you have to pay PLN 15,794 per square meter.
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. It is slightly less in Rzeszów (PLN 9,092) and Białystok (PLN 9,015).
“The situation in Lublin, Szczecin and Zielona Góra is favorable from the point of view of buyers. In the latter city, 1 square meter of housing on the secondary market increased its average value by only 2% during the year. – we read in the analysis.
Second-hand apartment prices
The data shows that in provincial cities, new apartments are more expensive than second-hand apartments. In September this year one square meter on the primary market cost on average PLN 11,000. PLN 179, while on the secondary market it is PLN 10,000. PLN 59. They also pointed out that the list of the most expensive cities is the same as in the case of the secondary market.
According to RynekPierwotny.pl data, the most expensive are in Warsaw (over PLN 16,000 per square meter on average), Kraków (over PLN 15,000), Gdańsk (over PLN 13,000) and Wrocław (over PLN 13,000).
Izabela Mizia, real estate expert at rankomat.pl, assessed that the situation for buyers on the primary market is more difficult than on the secondary market.
– In addition to demand-side factors, such as high interest in purchasing real estate on preferential terms under the “Safe Credit 2%” program, there are also supply factors. There is a shortage of new apartments on the development market. Developer companies – due to the construction cycle lasting up to two years – are unable to quickly respond to the increase in demand from buyers – said the specialist.
In her opinion, this will translate into a further increase in prices on the primary market, which may be faster than on the secondary market.