According to the Polish Statistical Office (GUS), the number of flats delivered to the regional housing market hit 104,621 in September, an increase of 20.5 percent compared with the same nine-month period last year. A total of 128,087 building permits were issued over the first nine months of 2012 across Poland, 10 percent less than the same period last year. The number of flats currently underway also slipped by 9 percent this year, reaching just 116,767.
“The drop in the number of building permits issued in the period reflects the poor sentiment among developers,” Paweł Grząbka of CEE Property Group told the daily Puls Biznesu. He noted that just two years ago, developers were rapidly expanding across the country with new projects. Another reason for the slowdown can be attributed to stricter banking policies regarding financing for new projects, Grząbka claimed.
