Prices per square meter in provincial cities in Poland are reaching record levels. The most expensive are in Warsaw, Gdansk, and Krakow. In the capital, the price per square meter in the primary market in the fourth quarter averaged 16,815 PLN, while in the secondary market it was even higher – 17,403 PLN. The fastest rate of price increase was noted in Katowice – in the secondary market, apartment prices in the fourth quarter increased by 47% year on year. On the primary market, the record holder was Torun – in the fourth quarter, prices there increased by 32% compared to the same period last year.
Apartments in large Polish cities continue to be hot commodities. Experts from the multiplexer rankomat.pl checked the current demand for housing in 18 provincial cities. The basis for the compilation were data collected by RynekPierwotny.pl and GetHome.pl – real estate portals. The apartment price analysis concerns the offer prices of premises on the primary and secondary markets in the period between the last quarters of 2023 and 2022.
Primary market: Lublin and Bialystok are catching up with the leaders. In 11 out of 18 provincial cities, the price per square meter in the fourth quarter of 2023 exceeded the threshold of 10,000 PLN. The cheapest in this group was Lublin (10,263 PLN), and the most expensive was Warsaw (16,815 PLN). Primary market apartments have become much more expensive not only in cities that have been considered the most expensive (Warsaw, Krakow, Gdansk) for years, but also in those that have previously maintained a moderate price per square meter (Katowice, Olsztyn, Torun).
Secondary Market: Krakow will soon be more expensive than Warsaw. According to GetHome.pl, apartments are also becoming more expensive on the secondary market, but at an uneven pace. Within a year, the offer price per square meter increased in Krakow by almost 4,000 PLN, reaching 16,637 PLN. That’s not much less than the rate in Warsaw (17,403 PLN). In cities where apartments were already routine above 10,000 PLN/square meter, apart from Warsaw and Krakow, they were also in Gdansk, Wrocław, and Poznan, Katowice (10,251 PLN)
Prices for apartment insurance also go up. The increase in apartment prices also means an increase in the premium for apartment insurance. This is because the value of the property is one of the main factors affecting the cost of insurance.
