The data from the table of housing portal Tabelaofert.pl for September this year shows that the total sale of new apartments in the seven largest markets in Poland increased by almost 13% compared to August. At the same time, when it comes to sales volume, September was the best month for developers since May. This increase was observed in each of the analyzed markets. However, compared to September last year, sales fell by more than 46%. Despite this, however, prices are not falling, although in real terms they are lower thanks to popular promotions and discounts.
In September, in the seven largest markets in Poland – Warsaw, Kraków, Wrocław, Poznań, Łódź, Katowice and the Tri-City – a total of 2,876 apartments were sold, which is an increase by 12.74% compared to August, but a decrease by 46.5% in compared to the same month last year. It was the best month for developers since May. If we compare the sales volume to the average values for the holiday period (June, July, August), increases are clearly visible in all analyzed markets. The situation is improving the fastest in Katowice, where the increase in relation to the average holiday sales amounted to 41%, but it is still a decrease of over 35% compared to the previous year. Kraków is at the other extreme, where the recorded increase was symbolic and amounted to less than 0.7%. The total sales in these cities in September were higher by 8.3% than the average sales in the summer months (June, July, August).
“Data for September should be treated very carefully. It must be remembered that the just ended vacation is a period when people did not have serious covid restrictions for the first time since the outbreak of the pandemic and went on vacation in crowds. Increased sales may simply result from the return of buyers from the holidays – says Robert Chojnacki, founder of the Tabelaofert.pl website. The sales structure is still very diverse – finished apartments and those with attractive discounts and promotions sell better. However, where the project has a long deadline for completion and, in addition, no promotion, sales are very poor,” adds Robert Chojnacki.
The table of housing portal tableofert.pl has also published data on the prices of flats sold. They show that the offer prices of new flats have stabilized and the changes compared to the previous month are symbolic.
The published apartment prices do not take into account the currently widely granted discounts and temporary promotions – emphasizes Robert Chojnacki. When analyzing the data on sales and prices for the last months, one can risk a hypothesis that cash customers, who expected deeper declines, slowly lose their patience and start returning to the market, especially since the supply of new projects is record low due to the massive refraining of developers from entering the market. market for new investments. If such a thesis is true, then in the coming months we should observe a slow increase in sales. Further interest rate increases will not change anything here, because there are no purchases on credit anyway, and the price craze on the rental market shows, firstly, that there is a shortage of apartments, and secondly that buying an apartment for rent for cash is a very good way to protect your capital against inflation, forecasts Robert Chojnacki.
“Currently, with the use of a reasonable discount strategy, there is no problem with the sale of finished apartments. In one of the development projects we are selling in Katowice, we sold more apartments in September than during the entire holiday, and we have several meetings with new clients a day. We can also see that more and more investment clients who refrained from making decisions return to the market, negotiate the price and decide to sign the contract after receiving the final discount offer,” notes Katarzyna Tworska, Managing Director of redNet 24.
