A decrease in housing sales on the secondary market led to a decrease in the price per square meter in November in Warsaw, Krakow, Poznań and the Silesia agglomeration – according to GetHome.pl. In Tricity, the average level has been maintained since October, and it has slightly increased in Łódź and Wrocław.
As mentioned in the report, on the one hand, the supply is increasing in most of the metropolises, but on the other hand, there is still no demand recovery. In November of this year, the average price per square meter of used apartments decreased by 1%. in Warsaw (about 18.3 thousand PLN/m2), Krakow (17.4 thousand PLN/sq. m), Poznań (11.9 thousand PLN/sq. m) and in the cities of Gornośląsko-Zaglebiowska (8 thousand US dollars ) ). The average price increased by 1 percent. in Lodz (up to 8.6 thousand PLN/sq m) and Wroclaw (14.6 thousand PLN/sq m). However, it did not change in Tricity (PLN 15.8 thousand / square meter).
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The effect of increased supply
According to GetHome.pl experts, the discount of used apartments may be the result of an increase in the supply in the primary market. Developers began to attract customers by offering various types of bonuses. Data from BIG DATA RynekPierwotny.pl shows that the supply of new apartments in Warsaw increased by 3% in November. almost reached 15.7 thousand buildings. In turn, in the secondary market, the number of unique offers – according to the real estate portal Adradar – increased from 19.4 thousand. up to 20 thousand buildings, that is, also 3 percent. As shown in the report, this shows that the competition in the Warsaw market is very high.
In November, the number of unique apartment offers on the secondary market also increased in Wroclaw (11.1 thousand apartments), Lodz (5.6 thousand), Poznań (4.1 thousand) and Tricity (9.1 thousand). Supply decreased only in Krakow (9.8 thousand buildings) and remained unchanged in Katowice (2.3 thousand).
Adradar data shows that around 158,000 posts were posted across the country at the end of November. The sale of unique apartments is slightly higher than in October (157.5 thousand). However, since December last year, their number has increased by 28 percent.
In November, 32,500 units were taken from the secondary market. offers, that is, 18 percent less than a month ago. According to the authors of the report, this may indicate a decrease in demand for second-hand housing. However, as they added, this cannot be said for sure, because the sellers may have withdrawn part of the buildings due to the lack of buyers. On the other hand, 33,000 appeared on the secondary market. apartments, that is, 11 percent less than a month ago.
Leading price increase
Since the beginning of the year, the leader in the increase in apartment prices on the secondary market is Gornośląsko-Zaglebiowska Metropolis (+13%). In second place was Wrocław, during which the price of second-hand apartments increased by 8% on average. In third place with 6 percent. Łódź took the first place with the increase in price per square meter. In turn, in Warsaw, Krakow, Tricity and Poznan, the price of used apartments has increased by 5% on average since the beginning of the year.
In Warsaw, Krakow and Tricity, the average price per square meter of an apartment in the secondary and primary markets has increased equally. In Wroclaw, Łódź and Poznan, used apartments became cheaper than new apartments. However, the average price per square meter of used apartments in the metropolitan cities of Upper Silesia has increased significantly.
“In this (latest – ed.) we are dealing with a very rapid change in the price structure of housing in the secondary market. This happens when a large pool of new and therefore expensive housing enters the market, and at the same time, the cheapest ones are reduced ” said Marek from GetHome.pl. He also noted that this year the share of apartments with a price above PLN 12,000 PLN per square meter in the Silesia agglomeration increased from 5 to 21 percent, and currently from 64 to 54 percent. the percentage of buildings whose price does not exceed PLN 9,000 has decreased. PLN per meter.
By far one of the cheapest apartments
The authors of the report noted that second-hand housing prices in the Upper Silesian Metropolis of Zaglebie and Łódź are still the cheapest among all metropolises. This is because the offer there includes a large share of apartments in old blocks and apartment buildings. In two metropolises – Warsaw and Krakow – the average price of one square meter in the secondary market is still higher than in the primary market.
Main image credit: Traveller70 / Shutterstock
