Real estate market analysts keep warning that there may soon be a shortage of apartments for sale, both on the secondary and primary markets. This sounds quite incredible, if we take into account that just a few months ago, the creditworthiness of Poles necessary to think about having their own four accounts was record low.
Supply in the real estate market does not keep up with demand
As reported by the portal “rzeczpospolita.pl”, citing analyzes by PortalPierowtny.pl and GetHome.pl, the availability of premises, both on the primary and secondary markets, is still shrinking. One of the experts is quoted as saying that in Krakow alone since the beginning of the year the number of new property offers has dropped by as much as 51%. A similar situation exists in other large cities such as Warsaw, czy Wrocław. The entry into force of the government program “Safe 2% Credit” had a huge impact on this situation. According to ministerial data, over 63,000 people have already applied for loan financing under the program. people.
According to Arkadiusz Urban, president of the National Real Estate Resource, it is necessary for both local governments and developers to engage in building more apartments. Urban, however, points out that it is also necessary to first identify where they are most missing. Overall, it is estimated that there is a shortage of 2-3 million apartments in Poland.
See also: The real estate market looks like a bubble. The expert assesses the chances of a repeat of 2008
Will apartments become more expensive?
Data from the Nieruchomosci-online.pl portal show that in the third quarter of this year, prices of studio apartments increased in 15 out of 18 provincial cities. It was similar in the case of the most popular 2-room apartments, which increased in price by 4 to 9% in 14 provincial cities. These are probably the first symptoms of a shortage of “goods” on the real estate market. Experts warn that things can only get worse and this trend will continue in the coming months.
The mentioned portal leaves no doubts. Only 5% of intermediaries expect possible reductions. 20% of experts expect that prices may remain relatively stable, and 75% assume that they will continue to increase. PKO BP analysts estimate that apartment prices may jump by 10-15% by the end of the second quarter of 2024.
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2023-10-18 14:31:19
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