October brought a rather unexpected turn in the secondary market in Warsaw, Wrocław, and cities of the Upper Silesian-Zagłębie Metropolis, where instead of the expected drop by buyers, an increase in the average price per square meter of second-hand apartments being sold occurred. In Krakow, Tricity, and Poznań, the average remained at the level from September, while it slightly fell in Łódź – according to data from the GetHome.pl portal.
“The increase in apartment prices on the secondary market in Warsaw does not have to mean the end of price stabilization. It is likely that relatively expensive apartments appeared for sale, raising the average offered price per square meter,” reassures Marek Wielgo, an expert from GetHome.pl.
In October, the average price per square meter of used apartments in the capital (approx. PLN 18.4 thousand/m sq.) increased by 1%. According to data from the Adradar real estate portal search engine, the number of unique offers increased from 19.1 thousand to 19.4 thousand premises. GetHome.pl’s data indicate an increase of 1 percentage point in the share of apartments with a price above PLN 15 thousand per square meter. They account for 75% of all premises put up for sale.
A similar phenomenon occurred in Wrocław, where in October, along with an increase in the offer, the share of apartments with a price above PLN 15,000 per square meter increased. As a result, the average in this city also increased by 1% to approx. PLN 14.4 thousand per meter. However, in the cities of the Upper Silesian-Zagłębie Metropolis (approx. PLN 8.9 thousand/m sq.) the increase was as much as 6% in just one month! What could be the reason?
“In this case, we are rather dealing with sellers raising the prices of the cheapest premises or selling them out. This may be evidenced by the fact that the percentage of premises with a price below PLN 9 thousand per square meter decreased from 60% to 52% in just one month,” comments Marek Wielgo. He adds that in October, Łódź was the only metropolis where the average price per square meter fell (to a level below PLN 8.5 thousand). The decrease, like a month earlier, was 1%. Since May, when the average in this city reached the highest level, it has fallen by 2%.
We are dealing with stabilization in Krakow (just under PLN 17.5 thousand/m sq.), which also began there in May. Second-hand apartments did not get more expensive in October in the Tri-City (approx. PLN 15.8 thousand/m sq.) and in Poznań (over PLN 12 thousand/m sq.). It seems that the situation in the capital of Wielkopolska has finally clarified, as this is the second month in a row without an increase.
What does the supply situation look like in the largest metropolises? According to data from the Adradar real estate portal search engine, in October the number of unique offers of apartments on the secondary market increased not only in Warsaw (approx. 19.4k premises) and Wrocław (10.8k), but also in Krakow (10k), Tri-City (9k) and Katowice (2.3k). However, there was a 4% decrease in Łódź (5.5k premises) and a 2% decrease in Poznań (4k).
Adradar reports that at the end of October, there were about 157.5k unique apartment sales offers posted throughout the country, almost 2% less than in September. However, since last December, their number has increased by 28%.
Importantly, in October, 39.5k offers were withdrawn from the secondary market, 8% more than a month earlier. This may indicate a resurging demand for second-hand apartments. However, this cannot be definitively stated, as some sellers may have simply withdrawn the premises due to a lack of interested parties. On the other hand, 37k apartments appeared on the secondary market, 4% more than a month earlier.
Since the beginning of the year, the leader in increases is the Upper Silesian-Zagłębie Metropolis (+14%). In second place is Wrocław, where second-hand apartments have risen on average by 8% during this time. Two cities are in third place, with a 6% increase in the price per square meter: Warsaw and Poznań. On the other hand, in Krakow, the Tri-City and Łódź, used apartments have increased by an average of about 5% since the beginning of the year.
In addition, it is worth noting that in Warsaw, Krakow, and the Tri-City, the average price per square meter of apartments on the secondary market is still higher than on the primary market.
Author: GetHome.pl
Source: https://managerplus.pl/pazdziernik-na-rynku-wtornym-wzrost-cen-mieszkan-w-warszawie-stabilizacja-w-krakowie-i-trojmiescie-spadki-w-lodzi-28544
