Poland’s housing development sector hit a new record this year, with construction on 54,000 flats started since January. Market watchers say this level of construction is even higher than it was during the 2007 housing boom. Marcin Krasoń of Home Broker says that the number of consumers paying with cash has risen quickly of late, as the low interest rates on offered in banks and for bonds look increasingly unappetizing.
He predicts that a substantial portion of the supply now being built will be purchased by investors keen to rent the units out, especially as prices are expected to start falling in the next two years.
