The Real Estate Market in Poland: A Bright Future Ahead
Bank Pekao’s latest report reveals that property prices in Poland are still on the rise, with no peak in sight. Factors such as increasing incomes, better lending opportunities, and high market demand are driving this growth trend.
Despite experiencing one of the fastest real estate price increases in the EU from 2018 to 2023, Poland’s housing costs have remained relatively stable when adjusted for inflation. The report highlights that wages in Poland are growing in line with real estate prices, ensuring continued affordability for the general population.
Although high mortgage costs due to elevated NBP interest rates may temporarily slow down housing demand, programs like “Safe Loan 2%” are helping borrowers by reducing interest rates. Additionally, the market is expected to receive a boost from former Swiss franc borrowers re-entering the market with recovered capital.
Looking ahead, demographic changes and the need for more housing units will continue to drive the market, with developers responding by increasing new constructions. While a temporary price decline may be on the horizon, overall demand for housing in Poland remains strong and likely to prevent significant long-term price drops.