What apartments are most popular in Poland?

What apartments are most popular in Poland?

The most popular among Poles are 2-room apartments with an area of 40-50 square meters. Such apartments have several advantages.

The most popular among Poles are 2-room apartments with an area of 40-50 square meters. Such apartments have several advantages.

They are relatively cheap compared to other properties on the market and are more practical like studios. Small two rooms can satisfy the housing ambitions of, for example, a young family with one child or a single person who is thinking about subletting a room.

Two rooms are the most popular housing choice in most of the country's largest cities. This, in turn, may indicate that this is the favorite housing format of Poles.

In Warsaw in November 2023, two-room apartments were the most sought after property by buyers. More than 38% of those interested in purchasing made this choice. Two rooms have been the most popular over the past year.

The second most popular housing format is three rooms, which accounted for more than 36% of applicants in November. By the end of the year, three-room apartments in the capital gained popularity and almost equaled the interest of two-room apartments, but during the first half of the year the demand for such real estate was noticeably lower.

In November 2023, about 25% of buyers were looking for apartments with 4 rooms or more, the same number of people showed interest in houses, and 17.5% of buyers were vying for one-room apartments.

In Krakow, two-room apartments were also preferred. In November 2023, more than 44% of those wishing to purchase real estate were interested in such real estate. More than 41% of those looking for a three-room apartment decided on it.

In Wroclaw, for most of the year, the greatest demand was for two-room apartments, but recently customer preferences have turned more towards three-room apartments. In November, interest in both formats was almost equal - 33.6% of buyers chose two rooms, and three rooms - 34.8%.

In Poznań, two-room apartments are in demand by 43%, while 39.6% of buyers applied for an apartment with three rooms. 4-room apartments and more are the choice of about 20% of interested parties.

In Lodz there are predominantly 2 rooms. 35% of buyers were interested in such apartments. 3-room apartments were in demand among 24% of those interested, gentlemen - among 17%, and four rooms and more - among 21%. What’s interesting is that the demand for housing in Lodz differs from other major cities in the great interest in houses. In November 2023, more than 34% of those interested were looking for a home.

There is a demand for two rooms in Trójmieście. In November 2023, this housing format was of interest to 44.5% of buyers. 33% of those interested in purchasing decided on a three-room apartment.

So, the above data confirms the general trend: two-room apartments are the most popular format of residential real estate on the primary market in Poland. What is the interest in such real estate?

Tight but useful

As we already mentioned at the beginning, the main advantage of two-room apartments is, first of all, the price. This property is cheaper compared to other deals due to the fact that the apartments are simply small. This refers to real estate, on average, 35-55 meters.

In this popular segment, the strongest demand for real estate is generated by young or middle-aged people who are buying their first apartment (a prerequisite for using the “Safe Loan 2%” program), so their choice due to prices and lending opportunities is most often limited to only two rooms. It is worth noting that the popularity of this format is also influenced by demographic, social and cultural changes. The model of life of a so-called single or childless couple, perhaps a couple with a child, or less often with two children, is becoming increasingly popular.

Therefore, there is less demand for large apartments. This trend is observed even in the construction of single-family houses. So-called multi-generational houses, where parents and children and grandparents live together on several floors, are becoming increasingly rare. Today, relatively small houses predominate, with an area of just over 100 square meters. Moreover, truly small and compact houses are becoming increasingly popular. This proposal, unheard of a dozen years ago, is now becoming increasingly common.

Returning to two-room apartments - even cheaper than, of course, one-room apartments. However, unlike so-called studios, small two rooms provide more comfort and flexibility. They allow, for example, guests to comfortably spend the night, sublet a room or use it for a child. Studio apartments don't have that flexibility.

Everything that was written above about demand trends is confirmed by the supply side. Developers adapt the offer to market requirements. According to Glavstat, in the period from the 1st to the 3rd quarter of 2023, the average usable area of newly commissioned residential real estate (including houses and apartments) was 91.5 square meters. m. (for the same period in 2022 – 93.5 sq. m.). The average living area in single-family houses was 130.9 square meters. m., and in apartment buildings - 51.9 sq. m. m.

It follows from this that two-room real estate is the most in the offer of developers. In November 2023, in Warsaw and Krakow their share was about 35%, in Wroclaw, in Poznan - 38%, and in Lodz almost 37%.

Summary

Very high demand and dynamically rising prices - all this, of course, does not contribute to the purchase of large real estate. Hundreds of thousands of Poles do not have a sufficient credit rating to afford larger properties.

It should also be remembered that the “Safe Loan 2%” program currently has a great influence on the market and customer preferences. According to its requirements, single people can count on a maximum of 500 thousand zlotys of a low-interest loan, while a married couple or a couple raising a child together can count on a maximum of 600 thousand zlotys. With a possible personal contribution of up to 200 thousand zlotys, obtaining a loan with a maximum amount of 700-800 thousand zlotys comes into play. Of course, these are optimal conditions, since the size of the contribution and creditworthiness are also important.

From all this it follows that at current real estate prices and lending conditions, as well as program quotas, housing of 35-60 square meters is most often purchased. m., that is, two, perhaps three, but small rooms.

Source: www.bankier.pl