Polish housing market: Seller's markets in Warsaw and Wrocław, oversupply in Łódź and Katowice

The Polish housing market shows significant regional disparities, with some cities experiencing strong seller's market conditions while others grapple with an oversupply of apartments. Warsaw, the Tricity metropolitan area (Gdańsk, Gdynia, Sopot), and Wrocław are currently characterized by high demand and limited inventory, giving sellers the advantage.

According to preliminary estimates from Otodom, over 4,400 apartments were sold in seven major Polish cities in July, a 12% increase compared to the same period last year. However, sales saw a slight 3% decrease from June. Developers significantly slowed down new project launches in July, introducing only 3,000 new apartments to the market, the lowest figure since February. This has reduced the total available housing stock to just under 60,000 units.

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The market situation we observed in July is an unconventional case of supply slowdown in response to stable and high demand.

Katarzyna Kuniewicz, Market Research Director at Otodom, described July's market as an "unconventional case of supply slowdown in response to stable and high demand." She noted that developers introduced fewer new units than were sold, a reversal from last year when supply exceeded sales by 33%. This reduction in new supply, a reaction to sustained high inventory levels since 2025, is leading to price pressures, with newly listed apartments being noticeably more expensive than the market average. High reservation rates suggest buyers fear further price increases and are increasingly willing to purchase.

In contrast, Łódź and Katowice are experiencing a buyer's market, with a significant oversupply of housing. In Katowice, developers have not introduced any new projects for three consecutive months due to the large volume of unsold properties. The estimated time to sell off the current inventory in Katowice is nearly 2.5 years, highlighting the extent of the oversupply.

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Developers are limiting new supply in response to the high level of inventory that has persisted since 2025. However, it is worth noting that the units introduced to the market in recent months are clearly more expensive than the market average. A large number of reservations indicates, on the one hand, demand concerns that prices will continue to rise, and on the other hand, it demonstrates a growing willingness to buy.