Every third apartment in 2023 was bought for rent. Such purchases for cash

NBP report “Information on apartment prices and the situation on the residential and commercial real estate market in Poland in the fourth quarter of 2023”. is a mine of knowledge about what the real estate market looked like in the last months of last year. We learn from it, for example, that the share of apartments purchased for rent with the majority of own funds increased from 22%. up to 25 percent

Every third apartment is purchased for investment

The percentage of apartments purchased with the intention of later resale in a favorable period (4%) is as much as 91%. was financed with own funds or with a significant majority of them, as in previous years, and the remaining small part of the transaction (9%) was covered with bank funds. This applies to flippers, but also to people who are not professionally involved in the purchase, renovation and resale of apartments in a short period of time, but carried out one such transaction to use excess cash.

The total number and value of loans throughout 2023 were 25% higher. y/y and by as much as 41%. compared to the last quarter of 2022. Launched from July 1, 2023. Safe Credit 2%. accounted for 50 percent numbers and 51 percent value of housing loans in the country granted in the second half of 2023.

According to the survey respondents, the share of Safe Credit was 2%. in financing the purchase of apartments in their investments was quite diverse. According to indications, 24 percent developers, their buyers did not use the loan under the government program at all. This group of companies included developers implementing projects in better, more expensive locations where the price of the apartment did not qualify for the government program.

In the case of 30 percent developers received a loan on preferential terms up to 50 percent. their customers, and according to 47 percent respondents from 51 percent up to 100 percent buyers.

Apartment prices may increase by 11%.

The increase in apartment prices in 2023, according to developers, was 15%. as a result of strong price-driving factors (persistent inflation, increase in the purchasing power of households, improvement in apartment sales with a limited supply of premises on the primary market and rising production costs).

Will 2024 bring relief to apartment buyers? Unfortunately not. Almost unanimously, developers forecast an average 11% increase in apartment prices in 2024.