The latest data from the Central Statistics Agency for October shows high investment activity in the housing market. This is closer to years of good economic conditions than to a cooling period.
How many apartments did the developer build?
Developers across Poland started construction on the 15,900 square meter site in October. places, by 30 percent more than a year earlier and by 35 percent. more than in September. A similar result was recorded in March – 15.8 thousand. Later, the results approached an average of 12,000. monthly. Therefore, although apartment sales have clearly decreased, investment has not slowed down. Recall that during the credit market paralysis in July 2022-February 2023, construction only started on 7,000 units. places on average per month.
In 10 months this year. Construction of 132.9 thousand apartments has started by 44 percent more than a year earlier. That's 15-16 percent. more than in the full years 2022 and 2023, which were marked by turbulence, and amounted to only 6%. less than in the same period in 2021, when the market was booming, driven by still low interest rates.
Let us add that under the banner of developer, the Central Statistical Office groups commercial companies and all other entities that build apartments for sale or rent for profit (including cooperatives and TBS).