In the third quarter of 2024, the Capital Group Dom Development S.A. (the “Group”) sold 1,156 properties compared to the 1,081 in the same period of 2023 (+7% year over year). These sales included 491 units in Warsaw, 242 in Tricity, 274 in Wrocław and 149 in Kraków.
The highest quarterly sales were recorded in the development projects: Dzielnica Mieszkaniowa Metro Zachód (139 units), Osiedle Przy Alejach (74) and Osiedle Harmonia Mokotów (70) in Warsaw, Osiedle Synteza (43 units) and Osiedle Przy Błoniach (30) in Tricity, Osiedle Międzyleska (58 units), Braniborska 80 (55) and Hubska 100 (36) in Wrocław, and Osiedle Górka Narodowa (56 units) and Apartamenty Park Matecznego (50) in Kraków.
In the first nine months of 2024, the net sales of the Group totalled 3,110 properties compared to 2,926 in the first three quarters of 2023 (+6% year over year).
TRANSFERS
In the third quarter of 2024, the Group transferred 598 properties to buyers (compared to 535 in the third quarter of 2023), including 263 properties in Warsaw, 140 in Tricity, 78 in Wrocław and 117 in Kraków.
The financial result for the third quarter of 2024 was mainly influenced by transfers in the projects: Osiedle Urbino (113 units), Osiedle Przystanek Międzylesie (51), Dzielnica Mieszkaniowa Metro Zachód (32) and Apartamenty Białej Koniczyny (32) in Warsaw, Widoki (82 units) and Perspektywa (40) in Tricity, Osiedle Komedy (75 units) in Wrocław and Osiedle Górka Narodowa (108 units) in Kraków.
In the first three quarters of 2024, the Group handed over 2,235 properties to clients compared to 2,533 in the same period of the previous year.
The management estimates that in 2024 the potential for property transfers is significantly higher than in the previous record-breaking year in 2023, when the Group handed over keys to 3,831 properties.
MARKET SITUATION ASSESSMENT
“In the third quarter of this year, we observed a continuation of trends from the second quarter, a slight cooling of demand compared to 2023, coupled with a further recovery in supply in the primary market in the largest agglomerations. In these market conditions, Dom Development Group sold 1,156 properties, a result slightly better than achieved in the very strong third quarter of 2023 when sales reached 1,081 units, and also 23% higher compared to the second quarter of the current year. These results confirm that demand for apartments offered by our Group remains strong, both from clients using credit financing and those buying flats in cash. In the third quarter of this year, credit-financed transactions accounted for 47%, while cash transactions accounted for 53% of total sales.” – said Jarosław Szanajca, President of the Management Board of Dom Development S.A.
“Dom Development Group’s goal for 2024 remains to increase the number of sold apartments compared to 2023 when net sales reached 3,906 units. We are steadily introducing new attractive projects for sale.”
“We also expect that 2024 will be a very good year for Dom Development Group in terms of generated financial results, which mainly depend on the number of properties transferred to buyers.
Over the first three quarters of 2024, Dom Development Group transferred 2,235 properties to clients, 12% less than in the same period in 2023. In the fourth quarter, we plan to start transferring flats in a large number of projects and estimate that the potential for transfers in 2024 is significantly higher than in the record-breaking 2023, when our clients received keys to 3,831 properties. All our constructions are being realised on time.” – indicated Leszek Stankiewicz, Vice President of the Management Board, Finance Director at Dom Development S.A.
Source: https://managerplus.pl/grupa-dom-development-z-kwartalna-sprzedaza-powyzej-1100-lokali-50993
