Which apartments in Warsaw are more expensive – new ones or from the owners?

Which apartments in Warsaw are more expensive – new ones or from the owners?

To answer this question, we especially for our readers made for each quarter a calculation of the difference between the transaction price on the primary market and the secondary market (table, column 4) in zlotys, as well as the ratio of the transaction price on the primary market to the transaction price on the secondary market as a percentage (table, column 5).

To answer this question, we especially for our readers made for each quarter a calculation of the difference between the transaction price on the primary market and the secondary market (table, column 4) in zlotys, as well as the ratio of the transaction price on the primary market to the transaction price on the secondary market as a percentage (table, column 5).

Transaction prices are taken from the official website of the National Bank of Poland.

Since 2006, the increase in the price of housing transactions on the primary market in Warsaw amounted to 234.3%. In money terms, the cost per square meter of housing on the primary market over 18 years in the Polish capital has increased from 5,605 to 13,135 zł/sq.m (table, column 2).

During the same time, the increase in the price of housing transactions on the secondary market in Warsaw amounted to 195.7%. The cost per square meter of housing on the secondary market over 18 years in the Polish capital has increased from 6,232 to 12,199 zł/sq.m (table, column 3).

Thus, a simple arithmetic calculation shows that property from the owners is cheaper than new property.

Let's turn to our calculations and determine the difference between the transaction price on the primary and secondary real estate market in Warsaw in each quarter from 2006 to 2023. In the period from 2006 to 2012 inclusive, the cost of apartments on the secondary market was clearly higher than the cost of new housing. From 2013 to 2017 inclusive, the price per square meter of new construction began to become more expensive. From 2018 to 2021, the situation changed again and secondary housing became more expensive than newly rented apartments.

It seems that the cyclicity has been determined. But in the last two years the picture has blurred. And only the last three quarters gave a steady, rapid increase in transaction prices on the primary market (up to 936 zlotys in May-June 2023).

From this it follows that used apartments are currently cheaper. However, not all of them are in perfect condition; many require repairs.

On the other hand, new apartments require financial costs, and significant ones at that. Indeed, in most cases they are sold in the “developer standard”, that is, basically, only with a rough finish.

As a result, it turns out that with a tight budget it is cheaper to buy real estate on the secondary market.

There are many apartments for sale on our website https://okeask.com/ru and we are ready to help you choose housing to suit your taste.

Table. Prices of real estate transactions on the primary and secondary markets in Warsaw for the period 3rd quarter of 2006 – 2nd quarter of 2023