July was the first month this year in which the average price per square meter of apartments offered by developers did not increase in any of the largest metropolitan areas in Poland. In fact, in the Tricity (Gdańsk, Gdynia, Sopot) and Łódź, prices even slightly decreased — according to preliminary BIG DATA from RynekPierwotny.pl.
“At the beginning of July, the Monetary Policy Council cut interest rates for the second time this year, which improved the availability of housing loans. As a result, more people could afford to buy their own apartment. Additionally, new apartments in the popular segment appeared on the market, which had a stabilizing effect on the average price per square meter of all units offered by developers,” says Marek Wielgo, an expert from RynekPierwotny.pl.
According to preliminary BIG DATA from RynekPierwotny.pl, in July the average price per square meter of apartments introduced to the market was just under 12,800 PLN in the Tricity area and slightly over 9,900 PLN in Łódź. Consequently, the average price per square meter of all apartments available in these two metropolitan areas fell by about 1%. At the end of July, it stood at approximately 16,600 PLN per square meter in Tricity and just above 11,500 PLN per square meter in Łódź.
In other metropolitan areas, the average prices per square meter of new apartments remained at June levels: around 18,000 PLN/m² in Warsaw, about 16,700 PLN/m² in Kraków, approximately 14,700 PLN/m² in Wrocław, nearly 13,600 PLN/m² in Poznań, and around 11,400 PLN/m² in the Upper Silesian Metropolitan Area.
When comparing the average prices per square meter of new apartments in July this year with the same period last year, differences remain visible. However, it is worth noting that in most metropolitan areas, this gap is narrowing and is now in single digits across all. For example, in Wrocław, the difference was 12% in January this year, 5% in June, and shrank to 3% in July. In the Tricity, the average price per square meter in June was 10% higher than a year earlier, but in July, year-on-year, it was 7%.
After seven months, Warsaw and Łódź are competing for the title of the most price-stable metropolitan areas in 2025. In both cities, the change in the average price per square meter of new apartments over a 12-month period was only 1% in July. Meanwhile, in Kraków and Wrocław, this was 3%, in Poznań 4%, and in the Upper Silesian Metropolitan Area 5%.
“Further interest rate cuts are on the horizon. The first may even come as early as September. This might discourage some from signing developer agreements, especially if they are considering taking out loans with a temporarily fixed interest rate for five years,” admits Marek Wielgo.
According to him, demand will not remain indifferent to the improving availability of housing loans. Most likely, apartment sales will pick up noticeably this fall. Of course, this depends on the economy and the labor market — nothing should happen that could dampen the optimism of mortgage borrowers. It is also worth noting that in July the saga regarding subsidies for loans for first-time homebuyers came to an end. Those who quietly hoped for such support should now be disillusioned by a letter from the Minister of Development and Technology to the Government Legislation Center. The minister requested the removal of the relevant bill from the government’s work plan. The cause was a sharp dispute within the coalition forming the government. PSL supported the bill, seeing it as a chance for young people to own homes, while Lewica and Polska 2050 feared that subsidies would again push up apartment prices, as had happened during the “Safe Loan 2%” program.
