Further price increases in the real estate market are expected by 13.6% of surveyed developers, while the vast majority (76%) expect them to stabilise, according to data from redNet24 and tabelaofert.pl. Nearly 60 per cent of developers expect sales performance to remain at similar levels to today.
The market has entered a phase of stabilisation for good – this is the key conclusion of July’s readings of both the Developers’ Sentiment Index and the Customer Expectations Index. Such a development in terms of prices is expected by almost 76 per cent of representatives of the surveyed property developers, which is slightly lower than a month ago (80 per cent). Despite the drop in sales of new flats, there is still a larger group of respondents expecting price increases than price decreases (13.6% and 7.8% respectively), it was reported.
The Housing Price Change Index remained at the same level as in June (0.06), it stressed.
Tableofert.pl founder Robert Chojnacki forecasts that prices are unlikely to change dynamically in the coming months.
“The slight predominance of votes on the side of price increases can be explained by higher prices in newly introduced projects (in relation to investments already in progress). The increasing number of promotions speaks in favour of the fact that in some locations the offer prices may fall, but it should be borne in mind that many promotions are of a non-price nature – for example, related to the payment schedule,” Chojnacki said.
The situation is similar with regard to sales levels. Nearly 60 per cent of surveyed developers expect sales performance to remain at levels similar to current levels. However, it should be noted that these levels are relatively low, it was reported.
“The offer on the primary market has recovered, buyers have a wide choice of flats and there is a good chance that if they find a product for them, they will buy a flat. Especially as many buyers remember the period in 2023 when the developer offer crumbled overnight. It is worth adding that sales results are also improved by widely conducted promotional campaigns,” redNet24 managing director Katarzyna Tworska pointed out.
According to a recent survey conducted by the analysis department of the Tabelaofert.pl portal, 52% of developers are currently using promotional actions and discounts, it was recalled.
In terms of the change in sales levels, the optimism of developers has increased – the group of developers expecting decreases has decreased, the percentage of responses expecting increases has remained at a similar level, it was reported.
One of the factors of uncertainty pointed out during the survey is the new housing scheme, around which there is a lot of doubt and about which buyers are asking – some of them are holding back decisions until January 2025, when the scheme could theoretically come into force, it was reported.
Source: redNet24, tabelaofert.pl and ISBnews
