Average offer prices per square metre of new flats in Poland’s seven largest agglomerations increased in October by 9-26% y/y depending on the city (the least in Łódź, the most in Krakow), according to preliminary data from RynekPierwotny.pl. In month-on-month terms, average prices in October were stable (unchanged or increased by up to 1%) in six metropolitan areas, while a more pronounced increase was recorded in the Tricity (+4% m/m).
As much as a 4% increase in flat prices in the Tri-City can be considered as quite surprising […]. It should be recalled that in September the average price per square metre here fell by 2%. This was then caused by an increase in the number of flats on offer from developer companies. Moreover, the average price per square metre of units put on sale was relatively low for this market. In October, the situation was reversed by 180 degrees. The Tricity market received flats more expensive than the average on offer, and this shrank due to insufficiently high supply. It is worth mentioning at this point that the Tricity was the only agglomeration where developers could boast an increase in the rate of flat sales. The question is whether they will be able to maintain it in a situation where flats available on the market cost on average almost PLN 14.3 thousand per m2, according to the report.
In Warsaw, Poznań and the Katowice Agglomeration, the average prices per m2 of flats did not change m/m in October and amounted to, respectively: PLN 16,037, PLN 11,703 and PLN 10,064. In Krakow, Wrocław and Łódź, prices rose by 1% m/m to PLN 15,464, PLN 13,116 and PLN 10,007 respectively.
Source: RynekPierwotny.pl and ISBnews
