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One hundred thousand keys

Eurobuild CEE 05 July 2018
POLAND 99,200 housing units were delivered by developers operating in Poland in the last 12 months, which is the most in the history of the market.
Statistics published by the Central Statistical Office show that the number of building permits obtained is slower, however, the increase still exceeds 10 pct. According to the latest data of the Central Statistical Office, developers delivered 6,727 housing units in May alone. Last year the number of apartments delivered reached 99,160 units, which is a record result, and as much as 25.2 pct higher than last year. From one month to another, the number of dwellings completed per year is higher and this is due to the fact that more and more projects have been launched for the last few quarters. “Developers are still building mightily. In May alone they started 10,564 construction projects. In terms of the last 12 months they started 117,004 housing unit, which was the second highest result in history,” says Marcin Krasoń from Home Broker. “The number of launched construction projects has been growing almost continuously since mid-2013, when it amounted to 43,500 apartments. Today developers are building over two and a half more, and only over the last year the number of projects launched increased by 24.6 pct,” adds Marcin Krasoń. The third statistics published by the Central Statistical Office is the number of construction permits obtained. Nearly 13,000 decisions in May allowed developers – for the first time in history! – to exceed 140,000 building permits over the year (an increase of 10.9 pct year-on-year). Although there are plenty of people willing to buy flats from the primary market, the developers watch closely what is going on in the economy. “Firstly, they are afraid of the changes being made in the development act. These changes are intended to increase the security of buyers by closing open escrow accounts without collateral. This, however, may make life difficult for companies which build apartments and increase their costs,” says Marcin Krasoń from Home Broker. “On the other hand, the market is still waiting for specific solutions related to the Apartment Plus programme, which is still trying to acquire its final (and realistic) shape. Some companies are worried how the market will be affected by it, although there are too many question marks in the initiative for now. Signals about rising housing prices have recently been coming in from every direction. According to developers, the main reasons are the rising prices of land, materials and labour. The construction of an apartment is simply more expensive today than it was a few years ago. For now, the demand is still high and apartments are sold but it will not last forever and the rates in the price lists will cease to be acceptable for buyers at some point,” sums up the Home Broker analyst.

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