Dropping like a brick

We all fall down The result reported by the ‘big five’ (those developers that sold over 2,000 apartments in 2017) were even worse, although the percentage falls varied widely. The largest such developer is still Dom Development which recorded a y-o-y fall of around only 9 pct (from 3,975 to 3,602 apartments). “The factors that significantly reduced the scale of the market in 2018 included the high price of development land, difficulties when applying for administrative decisions (especially in Warsaw), the labour shortages within the construction sector and rising costs ,” claims Jarosław Szanajca, the CEO of Dom Development. Murapol, which seems to have benefited from last year's management changes, remains in second place having recorded a minimal, 1 pct decrease in its y-o-y sales (from 3,605 to 3,560 units). “[The changes] went hand in hand with a new approach to doing business, with a new strategy and new investment decisions. Our idea of concentrat