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Poland faces a deficit of around 1.5 million apartments, which makes the country one of the most promising residential markets in Europe. Due to high demand in all cities, far exceeding the potential supply, the apartment prices are constantly being pushed up.
Although Warsaw is the leading city with 25% of all new apartments under construction, other major cities - in particular: Kraków, Poznań, Wrocław, Tricity and Łódź – are also enjoying a boom in new residential developments.
The inflation in the residential market in Poland is now slowing down. It is projected that the market will cool down a little in some 2 years time mainly because a large number of apartments originally bought for speculative purposes only will be sold then.
It must also be stressed that the trends in price growth have changed recently. So far Warsaw was the city with the highest price growth. Currently, the surge in prices is much more dynamic in other major cities and in regional ones as well.
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