Will housing prices go up? The expert has no doubts

The chief economist of the Polish Association of Construction Employers, Damian Kaźmierczak, admits in an interview with RMF FM that the situation on the housing market is not optimistic for customers.

Expert on the reasons for the increase in housing prices

– There is a very strong demand for apartments, which the supply completely keeps up with – says the expert. – In the next dozen or so months, i.e. until the end of next year, we can talk about forecast increases of several percent per square meter of apartment – he adds.

Kaźmierczak points out that the mentioned demand for apartments appeared during this year’s holidays, among others. in connection with the Safe Credit 2% program, which was launched at the beginning of July. – This demand has three sources: 2 percent credit, people who use credit have noticed that interest rates should no longer increase. There is also demand from people who have adequate cash resources and consider it worth investing in apartments – explains the chief economist of the Polish Association of Construction Employers.

From January to July this year approximately 60,000 new apartments were built throughout Poland. Kaźmierczak points out that we have gone back to the level of 2016. – We are far from the record level in terms of the construction of new apartments in 2021. We have to wait many months or years to make up for this time. This is how much time will pass before new apartments are built and the previous numbers return – says the expert.

Prices go up not only in Warsaw

Apartment prices are growing the fastest in the largest centers, such as Warsaw, Kraków and Tricity. – In other cities, especially large cities, apartment prices will also grow at a similar pace – predicts Kaźmierczak.