Until recently, investors avoided these districts. Today, apartment prices are soaring there the most

Just a dozen or so years ago, purchasing an apartment often began with a simple question: which district is worth living in? In the largest Polish cities, there was a clear division into prestigious locations and those considered less attractive. Today, however, the real estate market is increasingly showing that such patterns are no longer important.

BIG DATA RynekPierwotny.pl data shows that apartment prices depend less and less on the historical reputation of the district, and more and more on the specific investment and its immediate surroundings.

– For years, the district’s reputation was a simplified assessment of the quality of life and attractiveness of the location. The following were important, among others: safety, infrastructure, access to services and the nature of the development. This influenced the perception of the entire district and the level of apartment prices – says Marek Wielgo, an expert at the RynekPierwotny.pl portal.

One district, many different prices

Although differences between individual parts of cities are still visible, the differences within the districts themselves are becoming more and more important. A good example is Warsaw. The average price per square meter of a new apartment in Śródmieście is approximately PLN 39,900. PLN, while in Białołęka it is approximately PLN 13.6 thousand. zloty.

However, behind the averages there is a much more complex market picture.

– However, price differences within the districts themselves are becoming more and more visible. In Białołęka, developers offer both apartments costing less than PLN 9,000. PLN per square meter, as well as premises valued at nearly PLN 20,000. PLN per meter. This means that even in relatively cheaper parts of the city you can find apartments at very different price levels – notes Marek Wielgo.

A similar phenomenon can also be seen outside the capital. In Łódź, Górna and Bałuty remain the cheapest, where the average price of new apartments is approximately PLN 10.8 thousand, respectively. and 10.9 thousand PLN per square meter, while in Śródmieście it exceeds PLN 13,000. zloty. Nevertheless, also in these cheaper districts there are investments that are significantly more expensive than the local average.

In Poznań, Grunwald and Jeżyce are among the cheapest locations, with average prices of approx. PLN 13.500–13.600. PLN per square meter. At the same time, some of the apartments offered there cost over PLN 15,000. PLN per meter.

Even greater differences are visible in Wrocław. On Fabryczna Street, the average price is approximately PLN 13,200. PLN per square meter, but within the same district you can find both apartments for approx. PLN 9,000. PLN, as well as premises valued at up to PLN 20,000. PLN per meter.

Also in Katowice, average prices do not reflect the full picture of the market. In the City Center District Complex, where a square meter costs on average approx. PLN 13,200. PLN, much cheaper apartments are also available.

In turn, in the Tricity, the price range is even wider – from approx. PLN 10.6 thousand. PLN per square meter in Chwarzno-Wiczlin in Gdynia to approx. 27 thousand. PLN in Oliwa in Gdańsk.

Prague is no longer a cheaper alternative

However, the most spectacular changes can be seen in Warsaw. For years, Wilanów was considered a symbol of a modern, prestigious address, while Praga had to fight stereotypes regarding safety and quality of life.

Today the situation is completely different. The average price of new apartments in Praga Południe is approximately PLN 20,400. PLN per square meter and is higher than in Wilanów, where it amounts to approximately PLN 19.9 thousand. zloty. Praga Północ is also getting closer to the price levels associated with the most popular districts of the capital.

– Of course, this does not mean that all districts have become similar. In each of them you can find both premium investments and significantly cheaper projects. Just a few years ago, a “good district” usually meant a high price level in almost the entire market. Today, the specific investment, the standard of the project and the immediate surroundings are becoming more and more important – explains the expert of the RynekPierwotny.pl portal.

What matters is the address, but it is becoming more and more specific

According to experts from the RynekPierwotny.pl portal, the importance of historical opinions about districts will continue to decrease in the coming years. Buyers are increasingly analyzing not only the location itself, but also the quality of the space around the investment, the availability of public transport, green areas and services.

– The reputation of districts still matters, but it is no longer the main determinant of apartment prices. The specific location of the investment, its standard, surroundings and availability of infrastructure play an increasingly important role – comments Marek Wielgo.

The expert points out that the administrative boundaries of districts often cover very diverse areas. Next to modern housing estates, there are older parts of the city requiring revitalization, which means that one average price reflects the actual picture of the market less and less.

– Increasingly, the value of an apartment is determined not by the district itself, but by a specific housing estate, street or even a fragment of a building block. Additionally, the administrative boundaries of districts often cover very diverse areas – both well-connected and modern, and peripheral or requiring revitalization. In practice, this means that administrative boundaries explain the real differences in housing prices less and less – sums up Wielgo.