Apartment sales in Warsaw in the first quarter of 2026 were the strongest in two years. Average asking prices for apartments on the primary market in the capital stood at around PLN 19,300 per square metre, according to data from CBRE and Tabelaofert.pl. However, actual transactions were concluded at clearly lower levels. The average asking price of apartments sold in Warsaw was PLN 17,400 per square metre. Although mortgage availability has improved thanks to lower interest rates, the prices of a significant share of apartments on the development market remain beyond the reach of the average buyer, CBRE experts assess.
In the first quarter of 2026, 4,239 new apartments were sold in Warsaw. This was 12.8% more than in the previous quarter and 12.1% above the average quarterly figure for the past five years, which stood at 3,781 units. It was also the best sales result in two years, meaning since the market ceased to be influenced by the government subsidy programme “Safe Credit 2%”.
“The data confirm a clear rebound in demand, largely supported by improved mortgage conditions, which remain one of the most important factors affecting the market. From May 2025 to March 2026, interest rates were lowered by a total of 2 percentage points, which translated into greater mortgage availability and stronger interest in purchasing apartments,” says Agnieszka Mikulska, housing market expert at CBRE.
Fewer new projects
In the first three months of 2026, developers launched 2,850 apartments for sale, 29.7% fewer than in the previous quarter. The decline in new supply, combined with rising sales, led to a reduction in the overall offer. At the end of March this year, 15,255 apartments were available, 8.6% fewer than in December 2025. This was the lowest level since September 2024.
At the same time, the market continues to show a high share of completed but unsold units, which already account for more than one fifth of the entire offer — another record level. This results both from the large number of apartments completed at the end of 2025 and at the beginning of 2026, as well as from the smaller number of new projects being introduced to the market. In the coming months, this share may increase further due to planned completions in the second quarter.
Asking prices are rising, while cheaper units are selling out
At the end of the first quarter of 2026, the average asking price of a new apartment in Warsaw was PLN 19,358 per square metre, representing a year-on-year increase of 6.4%. At the same time, the average price of apartments sold was significantly lower, at PLN 17,449 per square metre, remaining close to the level seen a year earlier, with a slight decline of 0.3% year on year.
Even higher prices apply to new projects. Apartments introduced for sale during the analysed period cost an average of PLN 20,335 per square metre. It should be noted that several projects with unusually high prices were excluded from the calculations, as they could have distorted the overall market picture.
“Maintaining more favourable mortgage conditions, combined with a broad offer of completed and nearly completed apartments, will continue to support demand in the coming months. The sell-off of cheaper apartments and the launch of more expensive projects may sustain growth in average asking prices. At the same time, the high share of completed units means that buyers can still count on attractive promotions, especially for apartments that have remained in the offer for a long time,” adds Agnieszka Mikulska.
