Less fresh stock will tighten the market

Compared to 2001, there may be 25-30% fewer residential units arriving in  Warsaw in 2002,  according to REAS Konsulting's latest report into the housing market in Poland's capital. Though sales dropped in the first few months of this year, there are signs of increased absorption; as supply falls, demand will increase, creating a more positive climate in the city's housing market in 2004 or perhaps even 2003. The prospects for developersi building multi-family residential units have worsened significantly since early 2001, because of the economic downturn Poland has generally experienced. This has caused a reduction in both the number of units scheduled for development and the number of active developers. The required minimum period of three years to plan and complete a residential project, means that  any deferral or abandonment of projects in 2001 or 2002, will reduce the inventory of available housing units at least until the end of 2004. Fewer units The