New apartments in Poland’s most popular holiday destinations now cost more than homes in the country’s largest cities. Zakopane remains the most expensive resort for the second consecutive year, with the average asking price approaching PLN 35,000 per square metre. Seven seaside destinations feature among the ten most expensive markets, while Grzybowo recorded the strongest price increase among the resorts making the ranking. (CEO Magazyn Polska)
Seven seaside resorts appear in this year’s top ten: Sopot, Świnoujście, Międzyzdroje, Hel, Krynica Morska, Grzybowo and Dziwnów. The remaining three places are occupied by mountain destinations: Zakopane, Kościelisko and Białka Tatrzańska.
“In many holiday destinations, buyers now have to pay considerably more for a square metre of a new apartment than in Warsaw, Kraków or Gdańsk. In the most prestigious locations, average prices have already exceeded PLN 30,000 per square metre,” said Marek Wielgo, an expert at property portals RynekPierwotny.pl and GetHome.pl.
According to BIG DATA RynekPierwotny.pl, Zakopane has retained first place in the ranking of Poland’s ten most expensive tourist destinations for a second consecutive year.
The average price of new apartments offered by developers in the town increased to almost PLN 34,900 per square metre, nearly 12% more than a year earlier. As a result, the capital of the Polish Tatra Mountains has extended its lead over the other resorts. (CEO Magazyn Polska)
Sopot rises to second place
The biggest change at the top of the ranking was Sopot’s rise from fifth to second place. The average price of a new apartment increased by 17% to nearly PLN 26,800 per square metre.
Świnoujście, which ranked second last year, fell to third place. It nevertheless remains one of Poland’s most expensive residential markets, despite its average price declining by approximately 5% to PLN 25,600 per square metre.
There were also changes immediately below the podium. Kościelisko ranked fourth, with prices exceeding PLN 25,100 per square metre, even though the average was more than 12% lower than a year earlier.
Międzyzdroje retained fifth place despite recording an approximately 4% fall in its average price.
The remaining positions were occupied by:
- Hel — PLN 23,600 per sq m
- Białka Tatrzańska — PLN 22,400 per sq m
- Krynica Morska — PLN 22,200 per sq m
- Grzybowo — PLN 22,000 per sq m
- Dziwnów — PLN 20,800 per sq m
Grzybowo entered the top ten for the first time after its average price increased by 22%. (CEO Magazyn Polska)
Entry threshold for the top ten continues to rise
BIG DATA RynekPierwotny.pl figures show that the minimum average price required to enter the ranking is rising steadily.
Two years ago, an average price below PLN 19,000 per square metre was sufficient to secure a place in the top ten. Today, apartments must cost an average of nearly PLN 21,000 per square metre to qualify.
For the third consecutive year, seaside resorts occupy seven of the ten positions, confirming that the most expensive segment of Poland’s holiday property market is concentrated along the Baltic coast.
Białka Tatrzańska, Grzybowo and Dziwnów entered this year’s ranking, replacing Mielno, Szklarska Poręba and Mikołajki. Average prices in all three destinations that dropped out still exceed PLN 20,000 per square metre.
Buyers pay for views, location and prestige
Wielgo explained that holiday apartments operate according to different market principles than homes purchased for permanent residence.
“In a holiday apartment building, buyers pay primarily for the location. The closer a property is to a beach, lake or ski slope, the higher the price. Buyers are prepared to pay a substantial premium for the opportunity to enjoy an exceptional view from a window or terrace,” he said.
The standard of a development and access to tourist facilities are also important. Many resort projects provide swimming pools, spas, saunas and restaurants.
Year-round usability is another major consideration. Destinations offering attractions in both summer and winter are particularly popular with buyers.
However, record prices do not mean that holiday property has become a mass market.
“There is no shortage of people interested in holiday apartments, but demand is not comparable with what we see in Poland’s largest cities. These properties are purchased mainly by affluent buyers looking for a second home or a relatively secure store of capital. The overwhelming majority of Poles cannot afford such a purchase,” Wielgo said.
The relatively limited scale of development activity in many resorts, particularly in the mountains and the Warmian-Masurian region, supports this assessment.
The largest selection is available on the coast
Coastal markets clearly dominate in terms of the number of properties available.
Developers offer more than 6,100 apartments in Gdańsk, nearly 3,300 in Szczecin and almost 2,500 in Gdynia. Hundreds of new homes are also available in Kołobrzeg, Międzyzdroje, Świnoujście and Ustronie Morskie.
The supply of new apartments is much smaller in mountain resorts. Only 22 units are available in Białka Tatrzańska, 23 in Krynica-Zdrój, 24 in Szczawnica and 32 in Kościelisko.
A similar situation can be observed in Warmia and Masuria. Outside Olsztyn, the local markets remain very small. Only several dozen new apartments are available in Iława, while the offer in Ostróda consists of just three units. (CEO Magazyn Polska)
The limited supply is not caused solely by lower demand. Suitable development land is scarce in mountain regions, while environmental and landscape protection requirements restrict the number and scale of potential projects.
Detached and recreational houses are also particularly popular in Warmia and Masuria.
“In lake districts and many mountain destinations, people looking for a holiday retreat are more likely to purchase a plot and build a house than buy an apartment. This is one of the reasons why the apartment supply is considerably smaller than on the coast,” Wielgo explained.
Small markets produce large price fluctuations
The limited size of many resort markets means that price statistics should be interpreted with caution.
“In a small destination, the launch of a single luxury project or the sale of the cheapest part of the available stock may cause a significant change in the average price per square metre,” Wielgo noted.
Average prices increased by as much as 37% in Szczyrk, 22% in Grzybowo and 16% in Karpacz over the course of a year.
At the same time, prices fell by 22% in Rogowo, 12% in Mikołajki and more than 12% in Kościelisko. These movements do not necessarily indicate a sudden change in the fundamental condition of the local market. They may instead reflect changes in the structure of the relatively small number of apartments available.
Where are new holiday apartments the cheapest?
Alongside Poland’s premium resorts are destinations where new apartments cost several times less.
Kajkowo near Ostróda remains the cheapest market included in the analysis, with an average price of approximately PLN 6,200 per square metre.
It is followed by Ełk at PLN 8,300, Kudowa-Zdrój at PLN 9,900 and Puck at PLN 10,100 per square metre.
The relatively low prices in these destinations are largely connected with the scale of tourist traffic and the level of national recognition.
“The highest prices are achieved by destinations that have become brands in their own right. Zakopane, Sopot, Świnoujście and Mikołajki are recognised across Poland and attract both tourists and investors,” Wielgo said.
“In less well-known destinations, buyers have a much wider choice of land, houses and apartments, which limits upward pressure on prices.”
Less prominent destinations are nevertheless attracting growing interest. For many buyers, peace, proximity to nature and an affordable price are more important than a prestigious address. As a result, local property markets that remained outside the main focus of investors only a few years ago are beginning to develop.
