Half-year full of records

Residential
POLAND The figures for apartment sales in the first half and second quarter of the year have been giving the residential market much to be cheerful about. The winding down of the government’s Apartments for the Young programme and some forecasts of a possible economic slowdown have clearly failed to put developers off their stride, as they break more sales records and set themselves even more ambitious goals for the entire year. We took a closer look at some of the data published by the largest players on the residential market.
Tight at the top Robyg proved to be the greatest record-breaker of H1 2017 (just as it was for the whole of last year). The company sold 1,693 apartments in Warsaw and Gdańsk (net – including cancellations), which represented a 23 pct y-o-y increase. The group estimates that this year it will finalise around 3,300 contracts if this trend continues. In Q2 alone, the developer sold 756 apartments in Warsaw and Gdańsk (including cancellations), which is almost 17 pct more than in the same period of 2016. Just one step behind is Dom Development, which sold 1,656 apartments (1,316 in 2016, a 26 pct increase y-o-y). In the second quarter the developer sold a record-breaking 850 apartments, 21 pct up y-o-y. “The demand was also supported by low interest rates, low unemployment and the ready availability of mortgages. As in previous quarters, apartments sold for cash represented a large part of the sales volume – around 40 pct of
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