Victoria Dom sold 332 flats on the Polish market in the first quarter of this year, representing a decrease in sales of around 9% y/y, the company reported. It hopes for an increase in sales in the second half of the year.
“The market currently remains in a waiting phase for the new government programme. At the same time, high construction costs, rising land prices, a very long administrative process and high interest rates with a projected mid-year inflation rate of 5-6% mean that buyers have limited creditworthiness. These factors are affecting the current level of sales. We are optimistic about the new government programme to support the purchase of housing, which is due to be launched in the second half of this year, and the prospect of the first interest rate cuts. Therefore, we are planning to introduce further projects in new and existing locations in the coming months, which will increase our housing offer,” said vice-president Waldemar Wasiluk.
Victoria Dom is a developer that carries out investments in the Warsaw and Krakow agglomerations and is preparing to enter the Tricity with its residential offer. In addition, as part of the holding, Victoria Dom is developing its operations in Germany by conducting expansion in Berlin and Leipzig.
Source: Victoria Dom and ISBnews
Photo: Victoria Dom, Olchowy Park, Warsaw
