Last year was another year in which the sales of apartments on the primary market grew. It was also a period of stable prices – the fluctuations did not exceed 2-3 percent. In 2017 these tendencies will continue – says the U.S. Real Estate Federation. Intermediaries also expect further offensive of developers. The results of the next 12 months may turn out to be record-breaking, although much will depend on the economic environment.
– 2016 is the third consecutive year in which the number of apartments sold on the primary market is increasing. This is the best time for this segment of the real estate market. On the secondary market, we have stabilised sales prices with a slight increase in Q3 and Q4. In my opinion, these increases will continue, , a member and spokesperson of the Polish Real Estate Federation.
More than half of all real estate agents in the latest survey indicate that 2016 was marked by stable prices on the primary and secondary markets. Nearly 48% indicated high supply, mainly on the primary market. In terms of the number of apartments sold, last year was a record-breaking year. Similar results may also be recorded this year, although, as points out, it will depend on several factors.
– The economy may certainly have an impact on what will happen on the real estate market. Already after the last months we can see what is happening with the zloty. Changes in the value of the Polish zloty in relation to settlement currencies in the European Union and the USA are factors that may affect price changes, because it fuels inflation – explains the spokesman.
According to data from the Central Statistical Office (GUS), from January to the end of November, more than 190,000 apartments were issued or notified for construction, i.e. by nearly 11% more than in the previous year. The number of flats whose construction has been commenced has increased even more (by 11.8%). This means that in 2017 more and more flats will be put into service.
– Tri-City is a region where it is definitely worth investing in flats. There is a guaranteed level of income that can make this investment profitable,” says .
High demand for flats in 2016 did not significantly affect the prices of flats, which remained stable. The differences did not exceed 2-3 percent. As emphasizes, price increases were visible in the city mainly in the third and fourth quarter. On a stable level, with a slight increase, rental prices remain at the same level.
– The programme of flats for rent has not had any influence on the reduction of rental prices. The prices under the programme are often even higher than the prices of individual customers renting flats. It may affect the standard of services and the standard of rental, but at the moment it has no major impact on the prices,” analyses.
According to the expert, the programme will also have little impact on the market.
– This is the effect of a small volume of flats, which may be created under this programme. It is said that there are about 6,000 flats, which is not much with 60,000 flats sold. Besides, I think that it will rather affect poorer regions of the United States. The market sector, which will be served by these apartments, is also not the highest price sector, because the apartments will be built with the poor and medium-rich people in mind,” the spokesman estimates.
The Ministry of Infrastructure states that within a few years it is expected that 300,000 units will be built. The flats will be built in locations indicated by the communes, they will have moderate rents, so they will be available also for less affluent families.
More than half of real estate agents are not able to clearly indicate whether the new programme will affect the real estate market. Nearly 40% assume that it will not revolutionize the market, and not much less believe that the impact will be visible only in smaller cities, where there is little developer offer.
Categories: Business
