REAS has reported that Q1 2011 was yet another quarter of increasing supply of residential property in the majority of Polish cities, due not only to the launch of new projects, but also to the re-launched sales of many projects suspended temporarily because of the crisis.

As a consequence, the number of units on the market in the six major cities increased for the sixth successive quarter and is 36% higher than a year ago. This occurred despite the fact that in terms of the number of units sold, the quarter was again better than the previous one, and generally the best since Q4 2007. During the last four quarters a total of some 28,600 units were sold in those cities – 27% more than in 2009 and over 13% more than in 2008.

According to REAS, over 10,700 residential units were introduced to the market in the six cities during Q1 this year, 67% more than in Q1 2009 and 26% more than in the last quarter of 2010. In the last four quarters the number of units launched for sale exceeded 35,000.

The prices per square meter of newly launched residential units have been in slow decline for several quarters now, according to REAS.