Where to Buy an Apartment in Poland in 2025: Expert Interview
Returns of up to 9% per year, rising prices in major cities, and the emergence of undervalued regions with high potential — the Polish real estate market today offers attractive opportunities for both personal residence and investments. At the same time, the conditions for purchasing for foreigners remain relatively lenient, especially for EU citizens and holders of permanent residence permits.
Konstanty Obuchowski, director of the OKEASK real estate agency, shared an expert perspective on the current state and prospects of the Polish market. From the interview, you will learn which cities show the best dynamics, what returns can be expected in different segments, and what changes await the market in the coming years.
Demand Dynamics and Legislative Changes
— How has the demand for housing in Poland from locals and foreigners changed and continues to change over the past two years?
— Demand from locals has noticeably increased in 2023–2024, thanks to government programs, lower interest rates, and market recovery after the inflationary decline. Young buyers have also become more active due to programs like “Mieszkanie na start” and lower rates.
Foreigners — especially citizens of Ukraine and Belarus — are increasingly becoming buyers, not just renters. We see growing purchasing activity from investors of Western European countries.
— What legislative changes regarding the purchase of real estate by foreigners might occur in the near future?
— Currently, EU citizens can buy housing without restrictions. For citizens of non-EU countries, in most cases, no permit is required to purchase an apartment, but it is required for purchasing individual land plots and standalone houses. No radical changes are expected.
— Can foreigners take out a mortgage to buy real estate? If so, how do the conditions differ from those for local residents?
— Yes, they can. Conditions depend on citizenship, type of residence permit, and income. EU citizens and residents with permanent residence permits can obtain a mortgage on the same terms as Poles.
Non-EU foreigners (including Ukrainians without a residence card) are granted loans less frequently, with a higher down payment (minimum 20–30%) and stricter income verification. Banks typically require stable income in Poland and proof of legal stay.
— What factors will determine housing demand in the next year?
— Key factors:
- Interest rate levels and mortgage availability.
- Government support programs (including new subsidy programs).
- Migration flows (including from Ukraine).
- Labor market conditions and inflation.
- Pace of new housing construction.
If macroeconomic stability persists, demand will remain high.
Examples of real estate in Poland
Undervalued Regions, Prices, and Projected ROI
— What types of real estate in Poland are most attractive for investments now and in the coming years in terms of profitability?
— The most attractive today are small apartments (studios and one-bedroom apartments), especially in large cities and suburbs with good transport links. This is due to the fact that such apartments are generally more affordable than larger ones or those with more bedrooms, and they are also popular among young people, students, and labor migrants. There has always been interest in primary market properties because payments can be made in stages, and renovations can be done to one’s taste.
— What is happening with prices based on your observations?
— In many cases, prices are stable. Some real estate segments continue to experience steady, gradual growth, while some segments are currently undergoing correction.
— Which Polish cities and districts within them are the most liquid for buying housing or investments?
— Traditionally, the liquid cities are Warsaw, Kraków, Wrocław, and Gdańsk — they ensure quick rentals and stable value growth. In Warsaw, particularly interesting districts are Mokotów, Wola, Praga-Północ, Ursynów. In Krakow — Podgórze and Grzegórzki. In the Tri-City — Gdynia Redłowo and Gdansk Wrzeszcz.
— Which cities or regions are undervalued but have growth potential in the coming years?
— Among the undervalued:
- Lodz — due to logistics, student population, and active modernization.
- Bydgoszcz and Torun — stable growth, especially in rentals.
- Rzeszów — growing role as a business hub, especially in the context of the eastern border.
- Suburbs of large cities — low entry threshold, good connectivity.
— What ROI can be expected on average?
— For long-term rentals in large cities — 4–6% per year, with a successful purchase and good management — up to 7%. Short-term rentals can yield up to 8–9% but require more involvement and are subject to seasonality. In suburbs, ROI can be higher due to a lower entry price.
— What are your forecasts for the Polish real estate market for 2026–2030? Will Poland catch up with more expensive markets, such as Germany, for example?
— Poland will continue steady price growth — on average 4–7% per year, depending on the city. Differentiation will decrease. Warsaw and Krakow could well approach Berlin in terms of average price per m². At the same time, demand will remain high due to migration, digitization of processes, and growth in the rental sector.
Let’s Summarize
The Polish real estate market in 2025 offers attractive opportunities for both residence and investments. Key takeaways from the expert interview: stable price growth of 4–7% per year, rental returns of up to 9% per year, and the emergence of undervalued regions with high potential. For foreigners, purchasing conditions remain relatively lenient, especially for EU citizens, and obtaining a mortgage is possible provided bank requirements for income and residency status are met.
When choosing real estate, it’s worth paying attention to small apartments in large cities and their suburbs, as well as considering promising but currently undervalued cities like Lodz, Bydgoszcz, and Rzeszow. The main thing is to consider macroeconomic factors, monitor government support programs, and choose properties with good transport accessibility.
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