Lokum Developer, a property developer operating in Lower Silesia and Lesser Poland markets, significantly improved its sales results last year compared to the previous year. From January to December 2023, it concluded developer and preliminary contracts for 706 apartments, recording a 62% year-on-year increase.
The Lokum Developer Group, which offers higher-standard apartments, in 2023 signed 706 development and preliminary contracts (+62% YoY): 455 in Wroclaw and 251 in Krakow. A total of 774 flats (+6% YoY) were handed over to customers: 475 in Wroclaw and 299 in Krakow. For the new year, the Group offers 361 flats, of which 274 are ready for collection. There are 392 flats under construction, which will be completed in 2025. The construction schedule does not envisage the completion of any of them in 2024.
“Last year, we saw a normalization in the housing market. The financial situation of clients and the availability of loans have improved significantly. So, it’s not surprising that we observed the realization of previously postponed housing needs. We entered 2023 with a large supply of ready-to-move-in apartments, created at lower costs, so we could meet the expectations of buyers. Today, both the market offer and ours are much thinner. The obstacle to its expansion is the very high cost of land and implementation. However, we have been observing an increase in apartment prices for several months, and if this trend maintains its dynamics, it will create an opportunity to rebuild the offer. The key here is also efficient processing by local governments of planning documents, road and network agreements and the issuance of building permits. Applying the housing special act seems to be a very good solution in this regard, thanks to which responsible local governments can significantly improve the housing situation of clients in the local market in a relatively short time,” – says Bartosz Kuźniar, CEO of Lokum Developer.
Lokum Developer has a rich land bank, which allows for the implementation of over 11,000 flats in addition to the ones under construction.
