Although increases of offer prices of second hand apartments slowed down, this did not prevent people looking for their own four walls from exceeding the psychological barrier of 8,000 PLN/sq.m. On the other hand, rental prices stabilised in August. Customers looking for a building plot could count on discount offers.
Prices of apartments on the secondary market
A similar tendency could be observed on the Wroclaw secondary market in August. However, in spite of the decrease of expectations of sellers of second hand apartments in comparison to July, the psychological barrier of 8,000 PLN/sq.m. was exceeded.
In August, offer prices on the Wroclaw secondary market averaged out at 8,020 PLN/sq.m. (increase by 1.1% and 89 PLN/sq.m.).
The growing expectations of sellers in the capital of Lower Silesia were particularly visible in advertisements of one-room apartments up to 38 sq.m., which were evaluated at 9,582 PLN/sq.m. on the average (increase by 2.4% and 227 PLN/sq.m.).
Apartment prices on the primary market
The situation on the primary market in August was more stable – developers’ expectations rose only by 0.2% on the average (nominally by 13 PLN/sq.m.) and averaged out at 7,368 PLN/sq.m. In the annual scale, the increase oscillated around 8% (nominally by 522 PLN/sq.m.).
For comparison: at the same time, offer prices of primary market apartments in Gdańsk soared by 17.5% on the average (nominally by 1,223 PLN/sq.m.).
The Wroclaw rental market was also stable in August. In comparison to July, the amounts quoted in advertisements rose by 1.2%, averaging out at 2,431 PLN per month. This means that Wroclaw still ranks as the third most expensive city after Warsaw and Gdańsk for persons looking for an apartment for rent.
Detailed offer prices of apartments in Wroclaw can be checked in the July report of Bankier.pl and Otodom.pl.
In comparison to August 2018, lessors’ expectations dropped by 0.7%; in comparison to August 2017, they decreased by 0.9%. At the same time, rental offer prices rose by 3-8% on the average in a majority of the largest Polish cities. Only in Kraków and Katowice did the expectations of people offering apartments for rent drop more strongly than in Wroclaw during the year – by 6.1% and 3.2%, respectively.
Building plot prices
Persons looking for a building plot could count on attractive discount offers in August. Building plot prices in Wroclaw were evaluated at 451 PLN/sq.m. on the average. (2.2% and 10 PLN cheaper than in July). The decrease was influenced particularly by attractive discount offers on smallest plots with an area of maximum 8 ares, whose owners expected 642 PLN/sq.m. on the average – 17.3% and 134 PLN/sq.m. cheaper than in July.
On the other hand, offer prices of 10-are plots rose slightly by 1.4%. As a result of this, plots of that size exceeded the psychological barrier, being evaluated at 500,000 PLN per 10 ares.
The average prices of building plots in Wroclaw ranked fifth on a nationwide scale. Detailed offer prices of building plots in Wroclaw and other Polish cities can be checked in the July report of Bankier.pl and Otodom.pl.
In August, the prices of building plots in the Lower Silesia Province became stable, being evaluated at 90 PLN/sq.m. on the average. (1% increase towards July). A cosmetic change affected prices of building plots in the province also in the annual scale. In this case, the expectations of plot sellers dropped by 1% towards August 2018.
Marcin Kaźmierczak, Bankier.pl