In June, the supply of apartments on the secondary market decreased, but this had little impact on the average price per square meter. The price remained unchanged in Warsaw, Łódź, Poznań, and cities of the Upper Silesian Metropolitan Area. In Wrocław, it fell by 1%, while in Kraków and the Tricity area it increased by the same amount, according to data from the portal GetHome.pl.
“With the growing supply of apartments in the primary market, both developers and sellers in the secondary market have to moderate their expectations. This applies not only to negotiations with potential buyers but often already at the offer stage. That is why in Warsaw, Wrocław, and Kraków — where the apartment supply is the largest — we see a decrease in the average price per square meter,” says Marek Wielgo, an expert from GetHome.pl.
Data from GetHome.pl shows that in Warsaw (around 17,800 PLN/m²) and Kraków (nearly 17,000 PLN/m²), the average price in June was about 3% lower than in December last year, and in Wrocław (14,200 PLN/m²) about 2% lower. The December level was maintained in Poznań (around 11,700 PLN/m²) and cities of the Upper Silesian Metropolitan Area (approximately 8,700 PLN/m²). Meanwhile, in the Tricity area (15,900 PLN/m²), the average price of secondary market apartments per square meter rose by 1%.
A clear increase can only be observed in Łódź (about 8,800 PLN/m²), where secondary market apartments became on average 2% more expensive per square meter. On the other hand, it has been repeatedly noted that Łódź’s market is characterized by a high share of apartments in socialist-era blocks and old tenement houses. The rise in the average price per square meter may therefore largely result from a growing proportion of new apartments, which have been built in large numbers in recent years. Additionally, so-called “flippers” who invested in these properties are now trying to sell the new apartments.
Will offer price declines be visible in all metropolitan areas in the coming months? The latest data from the real estate portal aggregator Adradar puts this scenario into question. At the end of June, there were approximately 154,000 unique apartment sale listings nationwide — nearly 2% fewer than a month earlier. Importantly, in June, 31,000 new unique secondary market offers appeared, 7% fewer than in May. On the other hand, 33,500 offers were withdrawn — 5% more than before — which may indicate increased sales activity. It is worth adding that the Ministry of Technology and Development abandoned the subsidy program for loans that buyers of secondary market apartments could use. Some potential buyers may have decided not to delay their purchase decisions in this situation.
After May’s stabilization of the secondary market offer, June brought a decline in all metropolitan areas. The biggest drops occurred in Warsaw (–5% to 18,300 apartments) and Poznań (–5% to 3,900 apartments). Wrocław (10,000 apartments), Łódź (5,500), and Katowice (2,300) saw 4% fewer apartments than in May. Kraków experienced a 3% decline (9,500 apartments), and the Tricity area a 1% drop (8,900 apartments).
“So far, this has not significantly impacted apartment prices. In Warsaw, Łódź, Poznań, and the Upper Silesian Metropolitan Area, the average price per square meter in June barely moved. In Wrocław, it fell by 1%, and only in Kraków and the Tricity area did it rise by the same amount,” comments the GetHome.pl expert.
It is worth noting that in Warsaw and Kraków, the average price per square meter for secondary market apartments has been falling for a year, now 4% lower. Over the past 12 months, the highest increase was in the Tricity area (+4%). Prices remained stable in Poznań, increased by 2% in the Upper Silesian Metropolitan Area and Łódź, and rose by 1% in Wrocław.
Source: https://managerplus.pl/czerwiec-na-rynku-wtornym-spadek-oferty-mieszkan-stabilne-ceny-22160
