The results of the primary residential market monitoring conducted by REAS in Q3 2014 in the biggest cities in Poland are very similar to the results from the previous quarter. The number of dwellings sold remained very high, just as in the previous quarter, and the number of newly launched units dropped slightly but still significantly exceeded the number of transactions. The number of flats on offer increased again in nearly the same proportion. Regardless of the mixed news coming from individual companies, this was another good quarter for developers and the growing new supply means that there are optimistic expectations as regards the condition of the market going forward. In the third quarter the housing market did not experience the impact of economic slowdown, which was visible in retail sales and export data. The combination of low interest rates and stable prices as well as a broad variety of units on offer significantly boosted sales.
(This article features excerpts from the full report – please download it here)