In downtown Warsaw alone, the median cost now hovers around an eye-watering PLN 41,300 (around $10,700) per square meter, according to a fresh market analysis.
Smaller cities have felt the squeeze, too, reflecting a nationwide trend of steadily escalating housing costs.
Key findings
A study conducted by Emmerson Evaluation for Poland’s Rzeczpospolita daily examined transaction price medians for both newly built and previously occupied apartments.
The data show that 2024 brought strategic adjustments among developers, especially after the end of the “Safe 2% Mortgage” program. “Without additional support measures, builders had to alter investment and sales strategies,” Emmerson CEO Dariusz Książak told the paper.
High interest rates—currently at 5.75%—have constrained borrowers’ capacity, ultimately driving up final sale prices. Among the most notable figures:
- The largest yearly jump in new-build pricing—about 20%, reaching a median of PLN 9,100 ($2,400) per square meter—was observed in the Silesian agglomeration (excluding Katowice).
- In Warsaw, median prices for new apartments hit PLN 17,700 ($4,600) per square meter by the end of the year, up 9% from the previous year. Resale units in the capital saw an even bigger climb of 14%, to PLN 15,700 ($4,100) per square meter.
Sky-high in the capital
The most dramatic gains emerged in central Warsaw. New homes in that district command approximately PLN 41,300 (around $10,700) per square meter—an 8% increase over last year’s prices. Meanwhile, secondhand flats there jumped 10%, surpassing PLN 20,700 ($5,400) per square meter.
Analysts say the end of certain mortgage programs and persistently high borrowing costs may keep upward pressure on Poland’s real estate market, while prospective buyers wrestle with the challenge of accessing affordable financing options.
(jh)
Source: Rzeczpospolita, PAP