Most developers in Poland are adapting their projects to new market demands by building small-size flats. But Warsaw’s top residential player Dom Development doesn’t have to switch gears. “When most of the developers were building large flats a few years ago, because of the demand, we didn’t give into the pressure,” he said. “The flats being currently under construction, will go on sale tomorrow.” Although company’s financial result for the first quarter of 2012 shows a 7 percent decrease in sales (to 370 flats), the company claims the result is due to a lower number of projects delivered over that period. With a healthy profit of PLN 14.6m Dom Development produced in Q1, 3,348 flats under construction and three projects introduced to the market over the same period, the company says it’s confident about future results. Despite the current situation on the Polish residential market, the company refuses to cut its prices, said Jarosław Szanajca, Dom Development’s president during a recent press conference in Warsaw. In addition, while a government mortgage support program was canceled and mortgage lenders are more restrictive these days, he claimed Dom Development was able to keep its 14 percent share in the market.
