The value of real estate transactions fell by 11.6% y/y in 2022 to PLN 175.16bn, the Central Statistical Office (GUS) said, citing data from the Register of Real Estate Prices and Values (RCiWN).
In the area of residential property, the value of transactions fell by 5.7% y-o-y to PLN 88 billion, with 232,086 transactions (-14% y-o-y). In developed real estate (real estate developed with residential buildings, developed agricultural real estate, real estate developed with buildings performing functions other than homestead and residential and building real estate), the value decreased by 14.9% y/y and amounted to PLN 43.08 billion in 80,088 transactions (-15.8% y/y). On the other hand, in undeveloped real estate, the value of transactions fell by 18.5% to PLN 44.09 billion (177,797 transactions were concluded here, down 28.6% y/y), GUS indicated.
In 2022, 531,200 deeds for the sale of real estate were signed, 24.3% less than in the previous year. Compared to 2021, an increase in the number of notarial acts occurred only in the case of the sale of real estate to the State Treasury or local government units (by 9.9%). In contrast, the largest decrease was recorded in the case of notarial acts concerning the sale of undeveloped plots of land (by 35.2%), according to GUS.
Source: GUS and ISBnews
