Resi developers doing well

Residential
POLAND The major residential developers active in Poland generally registered healthy sales results in H1 2015, when most of them enjoyed increased apartment sales.
Better margin, ambitious plans In the first half of the year, Dom Development found buyers for 1,065 residential units, with 467 being sold in Q1 and 598 in Q2. This represents a growth of 20 pct on the same period in 2014. “The March reduction in the interest rate to the historically low level of 1.5 pct has given an additional boost to the residential market. The low cost of money means buyers have a higher debt carrying capacity on the one hand and on the other hand is encouraging people to move their savings from deposits with low interest rates into real estate investment. The low rates are affecting both these groups in a similar way, thanks to the proportion of ‘cash’ and ‘mortgage’ shopping being maintained at a level of app. 30:70, along with a simultaneous considerable growth in the transaction volume,” explains Jarosław Szanajca, the president of Dom Development, in his summary of the r
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