News

The year 2022, despite a generally strong decline in sales on the residential real estate market, was distinguished by a strong increase in the share of home purchases by foreigners.

After the shock of war, high prices remained on the rental market, even though the level of offer in most of the largest cities exceeds the one recorded before the war, and the demand side is clearly weaker.

Although there are half as many transactions on the residential market as a year ago, the market performs relatively better in the largest agglomerations. The share of land poviats in total transactions on the housing market decreased by one-fourth, while the share of the six largest agglomerations increased by one-third.

Dwellings built over 100 years ago account for approximately 6.9% of the total stock. Among them are restored tenement houses, but most of these old apartments are probably suitable for replacement.

Despite the increase in interest rates and the tightening of credit conditions, a strong labor market still gives people at the beginning of their professional career the opportunity to buy a flat. Earnings in some industries, however, do not allow you to get a satisfactory area.

In 2H22, there are more and more signals of a slowdown in growth or even a decline in the prices of many building materials. Labor and land costs are also growing more slowly.