Prices for primary real estate in Warsaw in December 2023

Prices for primary real estate in Warsaw in December 2023

The average price of apartments in Warsaw according to the developer's standard in December 2023 was PLN 16,815 per square meter. Thus, in the capital, a change in the average supply price of 2% was recorded compared to the month of November, when buyers had to pay an average of PLN 16,433 per square meter for their apartments. Let us remind you that in November prices also increased by 2%.

The average price of apartments in Warsaw according to the developer's standard in December 2023 was PLN 16,815 per square meter. Thus, in the capital, a change in the average supply price of 2% was recorded compared to the month of November, when buyers had to pay an average of PLN 16,433 per square meter for their apartments. Let us remind you that in November prices also increased by 2%.

Average prices for apartments in Warsaw in December 2023 on the primary market increased by 23% year on year.

In Warsaw districts, prices range from 10,554 PLN/m² (Wesoła) to 27,256 PLN/m² (Wola). There is no data on Śródmieście, but prices here are clearly the highest.

Prices for apartments on the primary market in Warsaw in December 2023

We compared winter 2023 prices with spring 2020 prices. The result was a striking picture. Prices in Warsaw have increased 1.5 times over 3 years 9 months. They grew most of all in Żoliborze – more than 2 times. The cost of new real estate in the central areas – Ochota, Wola, Śródmieście – grew at a high rate. Among other areas, prices in Ursynow have increased significantly. The smallest growth was observed in the Wilanów area (which is very surprising) and the outlying Wesołej.

Interestingly, in December 2023 the number of apartments for sale decreased. At the end of the month, Warsaw developers had 9,409 offers of new apartments, which is 335 less than in November 2023. Let us recall that in November developers offered 9,744 new apartments, which is 827 more than in October 2023.

The number of apartments commissioned in December 2023 was 35% less than in December 2022.

Prices for apartments in Warsaw depend primarily on the location, as well as the area. Studio apartments in Warsaw cost, on average, 20,559 zlotys per square meter (in July 2023 – 18,357, an increase of 12% over 6 months). Two-room apartments in the capital are put up for sale at 16,226 zlotys per square meter (in July 2023 - 14,707, an increase of 10.3%), and three-room apartments - even for 14,686 zlotys per square meter (in July 2023 - 13,670, an increase by 7.4%). Apartments with 4 or more rooms are offered for PLN 15,432 per square meter (in July 2023 – PLN 14,231 per square meter, an increase of 8.4% over 6 months).

As we can see, cavaliers and “kopeck pieces” have risen in price the most in the Polish capital.

If you are looking for cheap real estate in Warsaw, then prices for apartments on the primary market will be most attractive in the outer areas, including: Białołęce, Wesołej and Rembertowie. Low prices for apartments in Warsaw continue in Ursusie, although the situation is likely to change with the expansion of the metro line. The highest prices for apartments in Warsaw were recorded in the central areas - Śródmieściu, Żoliborzu, Ochocie and Woli.

Forecasts for apartment prices in Warsaw are not optimistic, although developers are still realizing attractive investments. In such a large metropolis, rates are significantly influenced by the dynamics of the city's development. Prices for new apartments in Warsaw respond primarily to the influx of single people, young couples, families and students, although most important is the growing presence of foreign capital and business.

As for apartment prices, Warsaw will most likely become more and more expensive due to investments in local infrastructure - mainly in the metro.

Materials used from the site rynekpierwotny.pl