More expensive apartments in developers' offerings

The Polish real estate market is witnessing a structural shift, with developers increasingly offering more expensive apartments and fewer affordable options. While average prices in most cities remain relatively stable, the composition of new housing supply is changing, favoring higher-end units.

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July showed that changes in the average price of apartments are increasingly determined by the structure of new supply. In the largest cities, there are more apartments from higher segments.

Marek Wielgo, an expert at RynekPierwotny.pl, notes that the average price of new apartments is increasingly influenced by the structure of new supply. In major cities, there is a growing number of apartments in higher segments. This trend is particularly evident in Wroclaw, where a substantial number of apartments priced above 20,000 PLN per square meter have entered the market. Consequently, the average price per square meter in Wroclaw's developer offerings increased by 4%, reaching nearly 15,900 PLN.

Conversely, Warsaw saw a slight decrease in average prices in July, falling by about 1% to approximately 19,800 PLN per square meter. However, Wielgo clarifies that this does not signify a general price drop in the capital. Warsaw developers have also introduced apartments with an average price of just under 15,200 PLN per square meter. The data indicates that even in Warsaw, the supply is gradually moving towards more expensive segments.

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The average price per square meter of apartments in the offer of Wroclaw developers increased by as much as 4%, to just under PLN 15,900.

The number of apartments priced over 20,000 PLN per square meter has increased across all major cities over the past 12 months. In Warsaw, this supply grew by 42% to about 5,200 units. Tricity (Gdansk, Gdynia, Sopot) saw a similar 42% increase, reaching nearly 3,000 units. Wroclaw experienced a dramatic 142% rise, from under 500 to approximately 1,200 units. Poznan doubled its offering of such apartments, and Krakow saw a 35% increase.

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This does not mean that apartments in the capital have started to get cheaper.

Notably, these high-priced apartments are now appearing in cities previously known for their affordability. In Lodz, the number of apartments exceeding 20,000 PLN per square meter jumped from just two to 43 in a year. Similarly, in the Silesian Metropolis, the count rose from six to 32. While still a small portion of the overall offer, this marks a significant change from just a year ago when such units were rare.

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The number of such apartments increased in all major cities over the last 12 months.