What happened to apartment prices in Poland in October 2023? According to the portal RynekPierwotny.pl, the cost of real estate has changed in all cities of Poland, and in some places the market has more or less stabilized. However, there are all prerequisites that prices will continue to rise. Read more in the article.

Average apartment prices in Warsaw

The average price of apartments in Warsaw in October 2023 was PLN 16,042 per sq.m. (about €3200). Thus, in the capital of Poland, the price per square meter remained at the same level as in the previous month (in September, the average price per square meter was PLN 16,065).

For comparison, in October 2022, the average price per square meter in Warsaw was PLN 13,597 (about €3,069).

Interestingly, during this time the number of premises for sale has increased. At the end of the month, the supply of Warsaw developers included 8,917 offers of new apartments, which is 520 more than in September.

In addition, the secondary market in Warsaw has seen an increase in prices for apartments. Here, in October 2023, when choosing housing on the secondary market, the buyer had to count on a square price of 17,179 zlotys (about €3,880).

Such data may perhaps indicate some stabilization of the Warsaw real estate market. After literally explosive several months, when the cost of a square meter grew by 1000 zlotys per month, the lack of price growth indicates, at a minimum, a slowdown in the market. According to experts, this was facilitated by the large volume of apartments put on the market by developers.

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Average apartment prices in Krakow

The average price of apartments in Krakow in August 2023 was PLN 15,478 per sq.m. (about €3490). Thus, in the capital of the Malopolske Voivodeship, a change in the average supply price of 1% was recorded compared to last month, when buyers had to pay an average of PLN 15,254 per sq.m. for their apartments.

As in the capital, during this time the number of premises for sale has increased. At the end of the month, Krakow developers offered exactly 4,423 new apartments, which is 112 more than in September.

Moreover, on the secondary market in Krakow there was an increase in prices for apartments compared to last month. Here, according to statistics, in September 2023, the buyer had to count on the cost of a square meter of 16,136 zlotys (about €3,645).

Average prices for apartments in Gdansk, Gdynia and Sopot

The average price of apartments in these cities in October 2023 was PLN 14,288 per sq.m. (about €3225). Thus, in Gdansk, Gdynia and Sopot there was a change in the average supply price by 5% compared to last month, when buyers had to pay an average price of PLN 13,658 per square meter of apartment.

Interestingly, during this time the number of premises for sale has decreased. At the end of the month, developers in these cities offered 4,959 new apartments, which is 171 units less than in September.

In addition, on the secondary market of Gdansk, Gdynia and Sopot there was an increase in prices for apartments compared to last month. Here, according to statistics, in October 2023, the buyer had to count on the cost of a “square” of 14,570 zlotys (about €3,290).

What's particularly interesting here is the changes in the pricing structure. If previously about 13% of apartments on the market cost about 9,000 zlotys per square meter, now the share of such apartments has dropped to 9%. It is expected that the percentage of apartments that cost more - 12,000 zlotys per square meter - has increased and is now 49% (an increase of 5 percentage points).

Aerial view of Gdansk, Poland

Gdansk, Poland

Average prices for apartments in Wroclaw

The average price of apartments in Wroclaw in October 2023 was PLN 13,124 per square meter (about €2,965). This means that the change in the average supply price was 1% compared to last month, when buyers had to pay an average of PLN 13,008 per square meter.

At the same time, the number of premises for sale has decreased. At the end of the month, Wroclaw developers offered 4,606 new apartments, which is 387 less than in September.

In addition, on the secondary market in Wroclaw there was an increase in prices for apartments compared to last month. Here, according to statistics, in October 2023, the buyer had to count on the cost of a square meter of 13,170 zlotys (about €2,973).

Average prices for apartments in Lodz

The average price of apartments in Lodz in October 2023 was PLN 10,009 per square meter (about €2,260). As in previous cities, the change in the average asking price was 1% compared to last month, when buyers had to pay an average of PLN 9,916 per square meter for their apartments.

During this time, the number of premises for sale has increased. At the end of the month, developers in Lodz offered 6,613 new apartments, which is 601 more than in September.

In addition, the secondary market in Lodz saw an increase in the number of apartments compared to last month. Here, according to statistics, in October 2023, the buyer had to count on the cost of a square meter of 7,709 zlotys (about €1,740).

According to experts, it is the Lodz real estate market that is now the stronghold of stability in the country’s real estate market as a whole. Over the year, the cost of a square meter here has increased by only 6% - in other cities of this country the growth is measured in double digits.

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Average prices for apartments in Poznań

The average price of apartments in Poznań in October 2023 was PLN 11,707 per square meter (about €2,643). Here, housing prices remained virtually unchanged compared to last month, when buyers had to pay an average of PLN 11,679 per square meter for their apartments.

The number of premises for sale decreased in October. At the end of the month, Poznan developers offered 4,267 new apartments, which is 39 less than in September.

In addition, on the secondary market in Poznan there was an increase in prices for apartments compared to last month. Here, according to statistics, in October 2023, the buyer had to count on the cost of a square meter of 10,929 zlotys (about €2,467).