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edition 5 (220)
May 2017
Residential

Still full steam ahead

Still full steam ahead
Oscar Kazanelson, the president of Robyg's supervisory board

POLAND After the record sales results for the fourth quarter of 2016 (as well as throughout the entire year), some housing market analysts were predicting a slowdown over the first three months of 2017. And now they are feeling embarrassed, because further records are still being broken. We have taken a look at those developers that recorded their highest sales in the first months of 2017.

The winners are:

Robyg is the record holder for the period. The company signed sales contracts for 937 apartments net in Warsaw and Gdańsk over Q1 this year representing a 30 pct increase y-o-y. The company believes it will sign 3,300 contracts in 2017 under current market conditions. “Our Q1 results confirm that there is still a significant housing deficit on the Polish market. Last year, 65,000 new apartments were sold in the six largest cities, but the number of apartments per person in Poland remains considerably lower than the EU average,” says Oscar Kazanelson, the president of Robyg’s supervisory board.

Murapol has taken second place. The group secured sales contracts for 814 homes over the first three months of 2017 – up from 701 contracts in the same period of 2016. This is a Q1 record for the developer and one of its best net sales figures over its entire 16-year history. “These results are even more satisfying because the formal and administrative procedures have become lengthier – the project sales we had been planning to launch in Q1 are now going to take place slightly later. Because of this, our results are based on apartments offered for sale last year,” says Michał Sapota, the CEO of Murapol. “Taking into consideration the number of projects expected to be completed, we assume that Q2 sales will be even better,” he adds. This year Murapol is planning to put on sale more than 4,300 housing units with a combined useable area of 189,000 sqm. Its new projects include an estate on ul. Klasztorna in Wrocław and a project on ul. Strobanda in Toruń.

Dom Development has taken the final place on the podium – according to its preliminary results, the company sold 806 housing units over Q1 this year. This represents a 31 pct y-o-y increase and the best Q1 results in the history of the company. The apartments sold mostly came from its Premium, Żoliborz Artystyczny, Wilno, Moderna, Saska and Palladium estates. Over the quarter, Dom Development handed over 230 apartments, down by 10 pct y-o-y. Around 34 pct of the purchases were made in cash. Based on the quarter’s results Dom Development is now predicting higher sales than in 2016.

Following the leaders

In Q1 2017 Atal sold 676 apartments, a 34 pct rise y-o-y, while in March it sold 269 apartments – the best monthly result in the company’s history. This year the developer is looking to surpass last year’s record of 2,436 contracts signed. Since the beginning of the year, the company has launched six development projects – in Łódź, Wrocław, Kraków and Warsaw, representing a combined 730 new apartments.

Wroclaw-based developer Archicom improved its sales results by 70 pct y-o-y by selling 366 apartments, which represents the highest quarterly sales in its history. “The figure is almost 100 apartments better than for Q3 2016, which had been our best ever quarter. Our ever higher sales are the result of healthy market conditions, but are mostly due to the wide availability of loans and the large percentage of cash purchases,” explains Dorota Jarodzka-Śródka, the CEO of Archicom. In Q1 this year the most popular estate among buyers was Olimpia Port on the banks of the Oder, where more than 90 apartments have been sold over the last few months. The company’s Cztery Pory Roku, Róża Wiatrów and Księżno multi-stage projects also proved popular. Archicom has over 1,300 apartments on offer in a number of projects in Wrocław. This year the developer is also planning to launch its first estate in Kraków.

In the first quarter of the year, Polnord sold 278 apartments net (219 apartments in Q1 2016). Including its percentage share of apartment sales by companies that are not wholly owned by the group, the company recorded total sales equivalent to 335 apartments.

This represents a 21 pct y-o-y improvement and the best Q1 results in Polnord’s history. Over the period, the company handed over 113 apartments. Most of the apartments sold were in Warsaw, the TriCity and Szczecin. “By further implementing our strategy in a calm and consistent manner, we will be able to achieve our goal of selling around 1,500 apartments per year by 2019,” said Dariusz Krawczyk, the CEO of Polnord. Over the first three months of 2017, the company sold 153 apartments in its new Fotoplastykon project in Gdańsk as well as 44 apartments in the latest stage of its Chabrowe Wzgórze project in Kowale near Gdańsk. This year Polnord is planning to launch eleven projects with a total of 1,450 apartments in Warsaw, TriCity, Olsztyn, Szczecin, Wrocław and Łódź. [The summary is based on data submitted by developers.]

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