In the past year to March 2012 there were 29,400 residential units sold in Poland, a 2.5% increase on the previous 12 months according to consultants REAS.

Their latest market report stated that good sales levels had been achieved as prices of resale units on offer for sale continued to drop, while the prices of units newly launched for sale surged q/o/q.

REAS say this situation is due to the introduction of a wide range of new projects (and not only low-end ones) as well as by developers’ attempts to react flexibly to buyers’ expectations.

The report stated: “With slightly lower prices per square meter and continually shrinking average floor areas of sold units, despite a minor increase in the number of transactions developers’ revenues are unlikely to have grown.”

During Q1 2012 nearly 9,700 residential units were launched for sale in the six urban centers with the highest primary market turnover ( Warsaw, Kraków, Wroclaw, Tri-City, Poznañ and Lódz), a 32% increase on the previous quarter but a 10% fall on Q1 2011. Over the past four quarters the number of units introduced to the marketplace reached 36,500, which is 17.7% above the 2010 levels.

The report said that the growing number of newly launched units is related to the upcoming Developer Act, however, in many cases it is an attempt to maintain a stable level of sales.
Residential construction increased during Q1 2012 with 15,200 units in the six major areas, a 15.2% increase on the same period of 2011.