Prices for primary real estate in Poland in December 2023

The situation on the real estate market in Poland is very dynamic. December 2023 saw changes in many cities compared to last month. Let's look at prices per square meter in Warszawie, Krakowie, Trójmieście, Wrocławiu, Łodzi, Poznaniu and Katowickiej agglomerations.

The situation on the real estate market in Poland is very dynamic. December 2023 saw changes in many cities compared to last month. Let's look at prices per square meter in Warszawie, Krakowie, Trójmieście, Wrocławiu, Łodzi, Poznaniu and Katowickiej agglomerations.

Average prices for apartments in Warsaw

The average price of apartments in Warsaw in December 2023 was PLN 16,815 per square meter. Thus, the capital recorded a 2% change in the average supply price compared to last month, when buyers had to pay an average of PLN 16,433 per square meter for their apartments.

It is interesting that during this time in the capital the number of premises for sale has decreased. At the end of the month, Warsaw developers offered 9,409 new apartments, which is 335 less than in November.

In addition, on the secondary market in Warsaw there was an increase in prices for apartments compared to last month. Here, according to statistics, in December 2023, when choosing a used apartment, the buyer had to pay 17,406 zlotys per square meter.

In 2023, the largest number of apartments – almost 20.8 thousand – were sold by Warsaw developers. The last time they managed to achieve a better result was only in 2019. In turn, in Krakowie, Trójmieście, Łodzi and the metropolitan cities of Górnośląsko-Zagłębiowskiej we can talk about absolutely record annual results of apartment sales.

Average price per sq. meter of primary housing in Warsaw (from December 2022 to December 2023) increased by 23.3% (see chart).

Average price per square meter of new apartments in Warsaw (from December 2022 to December 2023)

Average prices for apartments in Krakowie

The average price of apartments in Krakowie in December 2023 was PLN 15,580 per square meter. Thus, in the capital of the Lesser Poland region there was practically no change in the average supply price compared to last month, when buyers had to pay an average of PLN 15,625 per square meter for their apartments.

Interestingly, during this time the number of premises put up for sale in the city has increased. At the end of December 2023, developers in Krakowie had 4,817 offers of new apartments, which is 116 more than in November.

Moreover, on the secondary market in Krakow there was an increase in prices for apartments compared to last month. Here, according to statistics, in December 2023, when choosing a used apartment, the buyer had to pay 16,641 zlotys per square meter.

In total, in 2023, development companies in Poland put up for sale 43.9 thousand premises. The situation was worst for developers in Trójmieście, Krakowie and Wrocławiu.

The result was a huge imbalance between supply and demand. A particularly dramatic situation was observed in Krakowie, where at the end of 2023 there were 45% fewer apartments in the supply of development companies than 12 months ago.

Average price per sq. meter of primary housing in Krakowie (from December 2022 to December 2023) increased by 24.2% (see chart).

Average price per square meter of new apartments in Krakow (from December 2022 to December 2023)

Average prices for apartments in Trójmieście

The average price of apartments in Trójmieście in December 2023 was PLN 14,965 per square meter. Thus, in Gdańsku, Gdyni and Sopocie there was a change in the average supply price by 1% compared to last month, when buyers had to pay an average price of PLN 14,746 per square meter of their apartments.

Interestingly, during this time the number of premises offered for sale here has increased. At the end of December 2023, developers in Trójmieście offered 4,930 new apartments, which is 76 more than in November.

In addition, on the secondary market in Trójmieście there was an increase in prices for apartments compared to last month. Here, according to statistics, in December 2023, when choosing a used apartment, the buyer had to pay 15,114 zlotys per square meter.

Average price per sq. meter of primary housing in Trójmieście (from December 2022 to December 2023) increased by 26.9% (see chart).

Average price per square meter of new apartments in Trójmieście (from December 2022 to December 2023)

Average prices for apartments in Wrocławiu

The average price of apartments in Wrocławiu in December 2023 was PLN 13,112 per square meter. Thus, in the capital of the Lower Silesian Voivodeship there was no change in the average supply price compared to last month, when buyers had to pay an average of PLN 13,083 per square meter for their apartments.

During this time, the number of premises for sale in the city has increased. At the end of the month, Wroclaw developers offered 4,772 new apartments, which is 63 more than in November.

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 December 2023, when choosing a used apartment, the buyer had to pay 13,427 zlotys per square meter.

Average price per sq. meter of primary housing in Wrocławiu (from December 2022 to December 2023) increased by 10.8% (see chart).

Average price per square meter of new apartments in Wrocławiu (from December 2022 to December 2023)

Average prices for apartments in Łodzi

The average price of apartments in Łodzi in December 2023 was PLN 10,444 per square meter. The capital of the Łódź region recorded a 3% change in the average asking price compared to last month, when buyers had to pay an average of PLN 10,163 per square meter of their apartments.

Interestingly, during this time the number of premises for sale has increased. At the end of the month, Łodzi developers had 7,759 offers of new apartments, which is 859 more than in November.

In December, the Łodzi secondary market saw an increase in the number of apartments compared to the previous month. Here, according to statistics, in December 2023, when choosing a used apartment, the buyer had to pay 8,090 zlotys per square meter.

Average price per sq. meter of primary housing in Łodzi (from December 2022 to December 2023) increased by 10.7% (see chart).

Average price per square meter of new apartments in Łodzi (from December 2022 to December 2023)

Average prices for apartments in Poznaniu

The average price of apartments in Poznaniu in December 2023 was PLN 12,332 per square meter. Thus, in the capital of Wielkopolski there was no change in the average asking price compared to last month, when buyers had to pay an average of PLN 12,313 per square meter for their apartments.

Interestingly, during this time the number of premises for sale has increased. At the end of December 2023, there were 4,957 offers of new apartments in the supply of Poznań developers, which is 190 more than in November.

In addition, in the secondary market of Poznaniu there was a stabilization of prices for apartments compared to last month. Here, according to statistics, in December 2023, when choosing a used apartment, the buyer had to pay 11,316 zlotys per square meter.

Average price per sq. meter of primary housing in (from December 2022 to December 2023) increased by 17.2% (see chart).

Average price per square meter of new apartments in Poznaniu (from December 2022 to December 2023)

Average prices for apartments in the Katowickiej agglomeration

The average price of apartments in the Katowickiej agglomeration in December 2023 was PLN 10,556 per square meter. Thus, in the Górnośląsko-Zagłębiowskiej metropolis there was a decrease in the average asking price by -1% compared to last month, when buyers had to pay an average of PLN 10,625 per square meter for their apartments.

Interestingly, during this time the number of premises for sale has increased. At the end of December 2023, local developers had 6,549 offers of new apartments, which is 266 more than in November.

Bottom line

December 2023 was marked by a relative stabilization in the growth of real estate prices on the primary market in many cities in Poland. However, a jump in prices was recorded in the largest centers - Trójmieście, Krakowie, Warszawie, Poznaniu, Wrocławiu, Łodzi. Prices increased most in 2023 in Trójmieście – by 26.9%. In Krakowie the increase was 24.2%, in Warszawie - 23.3%, in Poznaniu - by 17.2%. 2023 ended with a double-digit increase in the average price per square meter in Wrocławiu and Łodzi (by 10.8 and 10.7%, respectively).

What will the next weeks look like? If developers do not increase supply, apartment prices may rise. Will this really be the case? This will become known in a month, when the following data is ready.

Materials used from the site rynekpierwotny.pl