Cost of new flats in Poland falls
PR dla Zagranicy
Nick Hodge
19.10.2012 10:32
Analysts have confirmed a marked drop in the price of new flats in several of Poland's key cities.
Photo - GlowImages
According to data prepared by property consultancy firm REAS, which has been monitoring the Polish market since 2000, average prices per square metre in Warsaw have fallen by 1400 zloty (340 euro) since the second quarter of 2012.
Prices in the capital for the third quarter of 2012 averaged out at 6400 zloty per square metre (1557 euro).
Meanwhile, the Puls Biznesu daily notes the trend is echoed in the cities of Poznan, Wroclaw and Lodz, where prices per square metre have fallen from 0.5 – 2.5 percent.
Nevertheless, prices remain buoyant at the Tri-City on the Baltic coast, taking in Gdansk, Gdynia and Sopot, where the cost of new flats has not fallen.
REAS also reports that for the first time in three years, the number of new flats coming onto the market has dropped.
The company analysed six cities in the latter study, finding that only Krakow bucked the trend. The southern Polish city increased its number of new flats on the market in the third quarter of 2012. (nh)