Housing market still in high gear: daily

“Developers build the most apartments in history, but still are not able to meet the demand. Individual investors are equally active,” the “Rzeczpospolita” daily wrote on Thursday.

Housing market fares better than before pandemic

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The newspaper cited preliminary data from Statistics Poland (GUS), which show that “in June developers started the construction of 14,900 flats.” “That is 60 pct more than the year before when the market was slowing down after the lockdown. The figure is slightly lower than in March, April and May, but still very high,” the article reads.

The daily reported that “in the entire first half of the year, construction of 87,000 flats started, 64 pct more year on year and 14 pct more than in the second half of 2020.” “In June, the building permit was granted to projects concerning more than 18,000 premises, 8 pct more year-on-year. For the whole six months, the figure is 109,000 premises, 47 pct more than the year before,” it was emphasised.

As “Rzeczpospolita” stressed, a new record of issued building permits was broken in June - their number amounted to 11,700.

“If you compare the data from the first half of 2021 to the same period of 2019, the scale of progress seems almost unbelievable. The market has not only returned to normal from the pre-COVID times but has radically surpassed the statistics from before the [COVID-19] pandemic,” Jarosław Jędrzyński, expert of the Rynekpierwotny.pl commented on the matter.