After three quarters of clear slowdown, housing prices in Poland have started accelerating again. According to the latest nationwide indicator published by Statistics Poland, based on the Real Estate Price Register, residential properties became 2.3% more expensive quarter on quarter and as much as 6.0% more expensive year on year in the first quarter of 2026. This was the strongest annual increase in five quarters.
The figures differ in scale from the asking-price data published by the National Bank of Poland in its BaRN database, as they are based on transaction prices recorded in notarial deeds. However, the direction of change is consistent: Poland’s housing market is emerging from a period of stagnation.
How This Indicator Differs From NBP Data
Statistics Poland’s Residential Property Price Index is based on the Real Estate Price Register, meaning actual transaction prices from notarial deeds covering the entire country. This differs from the National Bank of Poland’s BaRN database, which uses asking and transaction prices from selected major cities.
Statistics Poland publishes the index in three comparisons: against the previous quarter, against the corresponding quarter of the previous year, and against the average price in the previous calendar year.
For calculations covering 2026, the primary market was assigned a weight of 45.6%, while the secondary market accounted for 54.4%. This reflects the share of each segment in total real estate turnover.
The End of the Slowdown
Annual housing-price growth had been steadily slowing from its peak at the turn of 2023 and 2024, when prices were rising by as much as 18% year on year. That boom was largely driven by the Safe Mortgage 2% programme.
In subsequent quarters, annual growth fell to just 4.0% in the third quarter of 2025, which many commentators interpreted as a sign of a lasting market cooldown.
The first-quarter 2026 data break this trend. Annual price growth accelerated to 6.0%, the highest level in five quarters, while quarterly growth of 2.3% was the strongest since 2024.
The Primary Market Outpaces the Secondary Market Again
In the first quarter of 2026, new homes on the primary market became 6.8% more expensive year on year, compared with 5.2% on the secondary market.
This was different from a year earlier, when both segments were growing at a broadly similar pace of around 6% to 7%.
The stronger price growth in new homes may reflect rising construction costs, limited availability of development land in the largest cities and the gradual recovery of mortgage demand following the National Bank of Poland’s interest-rate cutting cycle.
Regional Differences: From Łódzkie to Lubuskie
Regional data show a wide dispersion in the pace of housing-price growth. The strongest annual increase was recorded in the Lubuskie region, where prices rose by 8.4%. It was followed by Wielkopolskie, up 7.9%, and Kujawsko-Pomorskie, up 7.8%.
At the other end of the scale was the Łódzkie region, where prices increased by only 1.5% year on year and even declined by 0.7% quarter on quarter. It was the only region in the dataset to record a quarterly fall.
Mazowieckie, Poland’s largest housing market, reported quarter-on-quarter growth of 3.6%, the highest among all regions.
| Region | Quarter on Quarter | Year on Year |
|---|---|---|
| Poland | +2.3% | +6.0% |
| Lubuskie | +3.1% | +8.4% |
| Wielkopolskie | +2.6% | +7.9% |
| Kujawsko-Pomorskie | +1.5% | +7.8% |
| Podlaskie | +2.9% | +7.6% |
| Mazowieckie | +3.6% | +6.8% |
| Pomorskie | +2.6% | +6.5% |
| Świętokrzyskie | +2.7% | +6.4% |
| Podkarpackie | +1.1% | +6.4% |
| Małopolskie | +2.4% | +6.6% |
| Zachodniopomorskie | +0.9% | +5.9% |
| Śląskie | +1.8% | +4.2% |
| Lubelskie | +1.3% | +4.2% |
| Opolskie | +1.1% | +5.0% |
| Warmińsko-Mazurskie | +0.7% | +4.5% |
| Dolnośląskie | +1.6% | +4.0% |
| Łódzkie | -0.7% | +1.5% |
Quarter on quarter: first quarter of 2026 compared with the fourth quarter of 2025. Year on year: first quarter of 2026 compared with the first quarter of 2025.
Prices Compared With the Whole of 2025
Statistics Poland also publishes a third comparison: against the average price for the entire previous calendar year.
Using this measure, residential property prices in the first quarter of 2026 were 4.2% higher than the average for 2025. On the primary market, the difference was 4.4%, while on the secondary market it was 4.0%.
This indicator is useful for assessing how quickly current prices are moving away from the benchmark set by the previous year. It confirms the picture shown by the other measures: the housing market has entered a new growth phase.
What Comes Next
The acceleration in prices in the first quarter of 2026 coincides with the National Bank of Poland’s interest-rate cutting cycle, which began in May 2025, and with a rebound in lending activity. The volume of household mortgage loans was growing at an increasingly faster pace from quarter to quarter during this period.
At the same time, regional data show that the recovery is uneven. Strong acceleration in smaller regions, such as Lubuskie and Kujawsko-Pomorskie, contrasts with stagnation in Łódzkie.
The next reading, covering the second quarter of 2026, will show whether the acceleration is lasting or whether it was merely a one-off rebound after several quieter quarters.
Source: Statistics Poland data. Own analysis based on Statistics Poland figures. The indices are based on residential transaction prices from the Real Estate Price Register. The methodology and weighting of the primary and secondary markets are updated annually. This article is for information purposes only and does not constitute investment advice.
