In Which Areas of Warsaw is it Most Expensive to Buy an Apartment? Current Statistics

The Warsaw real estate market is Poland's largest and most expensive market. Based on data from otodom.pl, let’s look at the price for purchasing and renting apartments in different areas of the Polish capital based on the results of the 1st quarter of this year.

Average Prices for Apartments in Warsaw

Let's start by reviewing the overall state of the Warsaw apartment market.

According to data from Narodowy Bank Polski, the average apartment prices in Warsaw at the end of the first quarter of 2024 were as follows:

• Primary market: 15,888 PLN/sq.m (3666 EUR/sq.m), which is 64% higher than the previous period.
• Secondary market: 14,380 PLN/sq.m (3318 EUR/sq.m), +52% compared to the previous period.

The price difference between the primary and secondary markets is 105% in favor of the primary market.

Average price per square meter (PLN/sq.m)

It is also important to note that the number of apartments listed for sale on the market is growing, as evidenced by data on the number of sale offers on the Otodom and Olx websites. Since the beginning of the year, the number of apartments listed for sale has increased 15 times, surpassing last year's figures.

Sales Offer Dynamics – Olx

Sales Offer Dynamics – Otodom

Average Apartment Purchase Prices by Districts of Warsaw

Warsaw is divided into 18 districts, which differ in parameters such as population, area, building density, infrastructure development level, location, and many other factors. All these directly influence the cost of housing in these districts.

Traditionally, the most expensive districts for buying an apartment are Śródmieście, Wola, Żoliborz, and Mokotów. Prices here, both in the primary and secondary markets, exceed those in other districts.

• Śródmieście: The central and most prestigious district of the Polish capital, including the Old and New Towns, as well as new constructions built after World War II. This district features Warsaw skyscrapers like Złota 44, the Palace of Culture and Science, Cosmopolitan Twarda 4, Chmielna 35, and numerous museums and attractions. All of this makes Śródmieście the cultural and business center of the capital, resulting in high housing prices. The average price per square meter on the primary market is 28,786 PLN/sq.m (about 6,642 EUR/sq.m), and on the secondary market, it is 23,404 PLN/sq.m (5400 EUR/sq.m).
• Wola: This district, like Śródmieście, boasts skyscrapers and attractions. It is home to Varso Tower, Warsaw Spire, Warsaw Trade Tower, and more. The most famous cultural landmark is the Warsaw Uprising Museum. There are many modern residential complexes: Capital Art Apartments, Browary Warszawskie, 19. Dzielnica, and others. Thanks to these features, Wola has earned a prestigious status, with housing prices reflecting this. On the primary market, the average price per square meter is 27,074 PLN/sq.m (6248 EUR/sq.m), and on the secondary market, it is 20,681 PLN/sq.m (4772 EUR/sq.m).
• Żoliborz: The smallest district of Warsaw by area, and probably the greenest, known for its parks. Located close to the center, allowing quick access. Żoliborz is an excellent choice for those who want to live in a quiet area with many parks and still be able to reach the center quickly. Prices here are: primary market – 24,171 PLN/sq.m (5578 EUR/sq.m), secondary market – 20,092 PLN/sq.m (4636 EUR/sq.m).
• Mokotów: One of the largest districts in Warsaw, with the highest population. It has many squares and parks. The average price per square meter in Mokotów is 21,182 PLN/sq.m (4888 EUR/sq.m) for the primary market and 19,374 PLN/sq.m (4471 EUR/sq.m) for the secondary market.

The cheapest districts in Warsaw for buying housing are Rembertów, Wawer, and Wesoła. These districts are similar, located next to each other in the southeastern part of Warsaw. They have the lowest population density among all the districts of the Polish capital, ranging from 1,080 to 1,300 people/sq.km, while in most other districts, the population density ranges from 2100 to 7000 people/sq.km. 

The most densely populated districts are Praga-Południe and Ochota, with a population density of about 8350 people/sq.km. If you enjoy a quiet and measured life away from the hustle and bustle of the big city and do not mind the distance from the center, these districts are for you. These districts are developing and being built with modern residential complexes at affordable prices, gaining new infrastructure. They also have many parks, squares, and forests.

The average price per square meter on the primary market in these districts ranges from 12,119 to 15,508 PLN/sq.m (from 2,797 to 3,579 EUR/sq.m), and on the secondary market, from 13,390 to 13,495 PLN/sq.m (from 3,090 to 3,114 EUR/sq.m).

Below is the average price per square meter on the primary market by districts of Warsaw

Below is the average price per square meter on the secondary market by districts of Warsaw

Rental Market and Real Estate Investment

In the first quarter of 2024, rental rates decreased in 12 out of 18 districts of Warsaw. Depending on the district, the decrease ranged from -0.1% in Mokotów to -12.3% in Rembertów.

A significant influence on the decrease in rental rates is the growing supply of rental apartments. The number of rental offers on the Otodom website has increased by 18% since the beginning of the year and by 43% on the Olx website.

Rental Offer Dynamics – Otodom

Rental Offer Dynamics – Olx

Below is the average monthly rent for an apartment of 40-60 square meters by districts of Warsaw

The increase in the number of available rental offers on the market, along with the decrease in rental rates, is good news for potential tenants. However, for those investing in real estate for rental purposes, this news is less favorable. When apartment prices rise while rental rates fall, the rental yield decreases. At the end of the first quarter of 2024, the average return on investment in Warsaw apartments was 4.6%, compared to 4.9% in the fourth quarter of 2024.