Develia sold 966 apartments in the first half of this year. based on developer and preliminary contracts, compared to 1,062 apartments in the first half of 2021, which means a decrease by 9%. The company delivered 206 flats as compared to 758 flats a year earlier.
The developer has concluded 110 reservation agreements, a significant part of which may be converted into developer agreements in the near future.
In the second quarter of 2022, the company sold 363 apartments compared to 482 apartments in the same period last year, i.e. 25% less. In the period April-June this year. Develia handed over 20 premises in investments in Warsaw and Krakow. The lower number of transfers is due to the project implementation schedule. The goal of the management board is to hand over 1950-2050 units in 2022, most of which are planned for the fourth quarter of this year.
As a result of the accumulation of negative external factors and the worsening of the economic situation, the management board of Develia decided to adjust the sales target set for 2022 to the level of 1,600-1800 units, i.e. by approximately 30%.
“In the context of the market situation, the sales result we achieved in the second quarter of this year. is satisfactory. On the other hand, we are faced with many challenges, most of all with a further increase in interest rates and a reduction in customer creditworthiness. Combined with the uncertainty about the economic situation and potential further rate hikes, this translates into a significant decline in credit-financed transactions. Therefore, we decided to adjust the sales target to the level of 1600-1800 units. This is not much less compared to the very good year 2021, in which 1921 apartments found buyers,” says Andrzej Oślizło, president of Develia.
“The company has a good financial standing and secured an attractive land bank. Thanks to the work we have done in the previous quarters, we are prepared for the period of market slowdown,” adds Andrzej Oślizło.
In the second quarter of 2022, the largest number of flats was found in the following investments: Centralna Park in Kraków, Aleje Praskie in Warsaw and Szmaragdowy Park in Gdańsk.
