In November, demand for apartments on the secondary housing market remained high. According to data from Otodom, in Poland’s largest cities the number of inquiries was even more than 20% higher than a year earlier. Despite this, the year-end period ultimately belonged to developers, who successfully captured buyers’ attention, increasing sales by more than 70% year on year. Even with limited availability of second-hand listings—down by as much as 30% year on year in some cities—average asking prices for resale apartments have remained stable.
In the shadow of developer promotions
November confirmed the persistently high level of buyer activity on the secondary market. Data from Otodom show that Poles were actively browsing listings for second-hand apartments, although the pace of change varied by location.
Compared with November last year, the number of responses to listings rose in the largest cities by more than 20% in some cases. The biggest increases were recorded in Katowice (+23% y/y), Poznań (+22% y/y), and Warsaw (+21% y/y). Importantly, the capital generated the highest level of activity and accounted for as much as one-third of total demand among the seven analyzed markets (Warsaw, Wrocław, the Tricity, Poznań, Kraków, Łódź, and Katowice).
While year-on-year data point to a clear increase, month-on-month comparisons present a more mixed picture. In some cities, interest continued to rise: up 2.1% m/m in Wrocław, 1.4% m/m in Katowice, and just under 1% m/m in Warsaw. In other locations, however, declines were observed: down 8% m/m in the Tricity, 6% m/m in Łódź, and nearly 5% m/m in Poznań compared with October. Still, despite sustained high demand, there are strong indications that the secondary market has been overshadowed by the developer segment.
“In November, we observed strong interest in both secondary and primary market offerings, but developers were more effective at capturing customers’ attention. Interest rate cuts created favorable conditions for purchases, while additional promotions and discounts offered at year-end became a strong incentive for undecided buyers,” comments Agata Stachowiak, a housing market expert at Otodom.
On the primary market, November brought a sales boom. In the seven largest cities, more than 5,000 apartments were sold—an increase of 73% year on year and 27% compared with October.
Up to 30% fewer listings than a year ago
November 2025 brought clear signs of a shrinking supply on the secondary housing market. In all analyzed cities, the number of available listings fell both month on month and year on year.
The largest month-on-month declines compared with October were recorded in Poznań (-9.1%), the Tricity (-7.5%), and Katowice (-6.6%). In Warsaw as well—despite having the largest pool of listings—the number of available second-hand apartments decreased by 5.2% compared with October.
The year-on-year changes are even more pronounced. Wrocław saw the sharpest drop among the largest markets, with a 30% decline in the number of resale listings. Significant reductions were also observed in Kraków (-16%), the Tricity (-14%), Warsaw (-13%), and Poznań (-12%). Only Katowice maintained a stable level of available apartments.
“While the secondary market is experiencing a clear contraction in available supply, the developer market continues to maintain a consistently high level of offerings—over 60,000 apartments across the seven largest cities. Such a wide selection increases the chances of finding a property tailored to individual needs, which may further encourage buyers to choose developer offerings,” notes Agata Stachowiak.
Stable, but not necessarily cheap
Prices on the secondary housing market remain in a phase of stabilization, despite declining supply and sustained buyer interest. In most of the largest cities, month-on-month changes in average price per square meter were marginal and within the margin of statistical error—ranging from a slight 0.7% decline in Łódź to a 0.3% increase in Warsaw.
Compared with a year earlier, it is also difficult to speak of dramatic price movements. In Warsaw, the average asking price for a second-hand apartment stood at PLN 18,400 per square meter, virtually unchanged year on year. An interesting case is Wrocław, where despite a significant reduction in supply, prices fell by 2% y/y to PLN 13,300 per square meter. At the opposite end of the spectrum is the Tricity, where prices rose by 3.7% y/y to an average of PLN 16,000 per square meter.
Price differences between the largest cities remain substantial. Just behind the most expensive capital are Kraków and the Tricity, where average asking prices on the secondary market hover around PLN 16,000 per square meter. Clearly lower prices were recorded in Wrocław and Poznań—PLN 13,300 and PLN 12,000 per square meter, respectively. The most affordable cities were Katowice and Łódź, where average apartment prices did not exceed PLN 10,000 per square meter. In Łódź, the figure was just PLN 8,600—more than half the level seen in Warsaw.
Source: https://managerplus.pl/rynek-wtorny-mieszkan-w-cieniu-ofensywy-deweloperow
