November brought a decline in sales in the secondary housing market, which in turn pulled down the average price per square meter in Warsaw, Krakow, Poznan and the cities of the Upper Silesia-Zagłębie Metropolis. In Tricity, the average price remained at the level from October, and in Łódź and Wroclaw it slightly increased – according to data from GetHome.pl.
It seems that sellers in the secondary market have started to lower their expectations. On one hand, the offer in most metropolises is increasing, on the other hand, there isn’t a visible revival in demand.
According to data from GetHome.pl, in November the average price per square meter of used apartments fell by 1% in Warsaw (approx. 18.3 thousand zł/m²), Krakow (17.4 thousand zł/m²), Poznan (11.9 thousand zł/m²) and in the cities of the Upper Silesia-Zagłębie Metropolis (8.8 thousand zł/m²). The average price increased by 1% in Łódź (8.6 thousand zł/m²) and Wrocław (14.6 thousand zł/m²), while it remained unchanged in Tricity (15.8 thousand zł/m²).
GetHome.pl experts estimate that the discount on used apartments may be the result of an increasing supply also in the primary market. Developers started to woo customers by offering various bonuses. According to BIG DATA RynekPierwotny.pl, in the capital alone, the offer of new apartments in November increased by 3% (to nearly 15.7 thousand units). Meanwhile, in the secondary market, the number of unique offers – according to data from the Adradar real estate portals’ search engine – increased from 19.4 thousand to 20 thousand units, also by 3%. Thus, it is clear that the competition in the Warsaw market is very high.
And what about the supply situation in other metropolises? Adradar reports that in November, the number of unique offers for apartments in the secondary market increased not only in Warsaw, but also in Wrocław (11.1 thousand units), Łódź (5.6 thousand), Poznań (4.1 thousand) and Tricity (9.1 thousand). Only in Krakow did the offer shrink (9.8 thousand units), and it remained unchanged in Katowice (2.3 thousand).
According to Adradar data, at the end of November, there were approximately 158 thousand unique offers for selling apartments across the country, slightly more than in October (157.5 thousand). However, since last December their number has increased by 28%.
Importantly, in November 32.5 thousand offers were withdrawn from the secondary market, which is 18% less than a month earlier. This may indicate a decrease in demand for second-hand apartments. However, this cannot be definitively determined, as some units could simply have been withdrawn due to lack of interest. On the other hand, 33 thousand apartments appeared on the secondary market, which is 11% less than a month earlier.
Since the beginning of the year, the leader in price increases is the Upper Silesia-Zagłębie Metropolis (+13%). In second place is Wrocław, where second-hand apartments have averaged 8% more expensive during this time. Łódź is in third place, with a 6% increase in the price per square meter. Meanwhile, in Warsaw, Krakow, Tricity and Poznan, used apartments have increased by an average of about 5% since the beginning of the year.
Prices of secondary market apartments in the Upper Silesia-Zagłębie Metropolis and Łódź are still among the cheapest in all metropolises. This is due to the fact that in these markets, a large proportion are apartments in old tenement houses and blocks from the PRL era. In only two metropolises – in Warsaw and Krakow – is the average price per square meter of apartments in the secondary market higher than in the primary market.
Author: GetHome.pl
Source: https://managerplus.pl/listopadowe-spadki-na-rynku-wtornym-ceny-mieszkan-w-warszawie-krakowie-i-poznaniu-w-dol-13296
