Feb 9 • 13:32 UTC 🇵🇱 Poland Rzeczpospolita

Where are new apartment prices hitting records

New apartment prices in major Polish cities, including Warsaw, are reaching record levels due to a significant influx of luxury listings.

In recent months, the average price per square meter for new apartments offered by developers in Warsaw has surged by 4%, surpassing 19,000 PLN. Similar increases have also been observed in Krakow, the Tri-City area, and the Upper Silesian Metropolitan Area. According to Big Data RynekPierwotny.pl, these developments are primarily fueled by a large number of newly available high-end properties rather than changes in developers' pricing strategies. This indicates a robust demand for luxury apartments amidst the evolving preferences of homebuyers.

Marek Wielgo, an expert from RynekPierwotny.pl, highlighted that the recent surge in average prices can largely be attributed to the introduction of expensive properties into the market. He pointed out that while general price trends may fluctuate, the influx of higher-priced listings has a more significant impact on the average price levels than any adjustments made by developers. This trend reflects a shift in market dynamics where luxury apartments are becoming more prevalent across several Polish metropolises.

The report emphasizes the implications of these price increases for both singles and families looking for new homes. The changing structure of the apartment offerings is influencing the preferences of different demographic groups. As more luxury apartments hit the market, the demand for new housing may also shift, prompting developers to adjust their strategies to accommodate the evolving market needs, ultimately influencing the landscape of apartment offerings across Poland's major urban centers.

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