Residential construction prices fluctuate slightly

2010-03-01

Mid-February 2010, a prospective buyer had to pay on average nearly PLN 7,100 (€1,807) per one square metre of a new flat in a large Polish city, based on data published by tabelaofert.pl and redNet Consulting.
Between 15 December 2009 and 15 February 2010 prices on the Polish residential market remained fairly stable, noting only slight fluctuations. The deepest drops were seen in the period in Poznan (-4%, PLN 7,000/m² or €1,781), as well as in Warsaw (-2%, PLN 8,800/m² or €2,239), Gdansk and Katowice (both noting -1%, to PLN 6,900/m² or €1,756 and PLN 5,400/m² or €1,374, respectively). In Krakow, prices of new housing have not changed, with a square metre commanding, on average, ca. PLN 7,400 (€1,883). Meanwhile, the cost of residential dwellings rose in the period in Lodz (up 1%, PLN 5,600/m² or €1,425) and Wroclaw (2%, PLN 8,300/m² or €2,112). Average prices of sold dwellings were lower than the average offer prices by approximately PLN 1,000/m² (€255//m²), going down from PLN 6,500/m² (€1654/m²) to PLN 6,300/m² (€1,603) over the month.

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