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edition 11 (215)
November 2016

Another happy quarter

Another happy quarter
Jarosław Szanajca, the president of the board at Dom Development, is rather pleased with his company’s results

POLAND The boom on the residential market continues with most developers having seen another good quarter. But not all of them can brag about an increase in sales. The best results were those of Murapol, which sold 744 apartments, representing a 14 pct increase on the same period of the previous year. The company is planning to sell as many as 3,000 apartments this year, which compares with 2,400 apartments sold in 2015.

Record levels of growth

In Q3 2016 alone Robyg sold 736 apartments, with the company signing sales contracts for 2,111 apartments over the first three quarters of 2016, representing a 19 pct increase on the same period of the previous year. The company intends to sell 2,600 apartments over the entire year. for Dom Development, which celebrates its 20th anniversary this year, also saw a record quarter. This year, Warsaw’s largest developer sold 705 apartments in the third quarter, up by 10 pct on the 640 apartments sold in Q3 last year. In the first three quarters of the year the company sold 2,021 apartments compared to 1,705 apartments last year (a 19 pct increase y-o-y). “Just like in Q2, app. 40 pct of our transactions were cash-based. In Q3, there were no significant changes on the mortgage market, and the suspension of financial support from the ‘Apartments for the Young’ programme had no notable impact on sales. However, we’re expecting an increase in sales in the mid-range segment over January, as it will be possible to apply for support from the programme again. From the point of view of Dom Development, the current state on the residential market is very healthy and allows us to look optimistically on the next few coming quarters,” commented Jarosław Szanajca, the president of the board of Dom Development. Since 1996, when the company debuted on the market with its Akacje estate in Warsaw’s Białołęka district, Dom Development has completed 124 projects, and almost 24,400 apartments, which the company claims house app. 70,000 people.

Atal is another developer with no reason to complain about its sales. Between January and September the company sold 1,762 apartments, 557 more than in the same period of last year (1,205). From July to the end of September, the company sold 581 apartments, which is 182 more y-o-y. Atal is predicting its full year sales will come to app. 2,000, which would beat the company’s best ever year (2015), when the company sold 1,689 units.

Were not all doing well

Ronson, on the other hand, saw rather worse results than last year. In the first three quarter of 2016 the company sold 545 apartments, which compares to 658 sold in the same period of the previous year representing a 17 pct drop y-o-y. The company saw a particularly poor third quarter when it sold only 183 apartments compared to 248 in Q3 2015. The developer is hoping to sell 800 apartments this year, when previously it set its target as its 2015 result of over 900 apartments.

A mixed bag of results

Victoria Dom is also bragging about its great results. The Warsaw-based developer has seen its highest ever sales with 509 apartments sold within the first nine months of the year up by 40 pct on the same period of last year, with 261 apartments sold in Q3 alone. Over the first three quarters of 2015, the company only sold 365 homes. Victoria Dom is aiming to sell app. 700 apartments over the entire year. Echo Investment has also seen an increase. Over the first three quarters of the year, Echo sold 501 apartments, representing a 46 pct rise y-o-y on the 343 apartments sold last year over the same period. The developer has targeted sales of 825 apartments this year.

Lokum, which is a Wrocław-based developer, has no cause to be so pleased. The company sold 421 apartments over the first three quarters of the year, which compares to 355 for the same period of 2015. The developer also saw a decrease in apartment sales over the third quarter from 141 sold in 2015 to this year’s paltry Q3 sales of 113, which the company claims was due to the smaller number of units that it had on sale. Archicom, which is another Wrocław-based developer, sold 267 apartments in the third quarter. This result is a 50 pct improvement on Q3 last year. Between January and September the company sold 705 apartments, 94 more than in the previous year.

Yet another Wrocław-based company LC Corp sold 1,441 apartments from January to the end of September 2016, while over the same period of 2015, LC Corp group sold 1,329 apartments. Over the first three quarters of 2016, LC Corp handed over 900 apartments which compares to 607 in the same period of 2015. Polnord is another developer to have seen a y-o-y fall in sales for the quarter. Between January and September, the company sold 782 apartments with third quarter sales of 236. In Q3 2015, that number was 269.

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