Enter the renter?
The Expert Eye
Looking back at what has happened on the residential market over 2021, several clear trends are evident. Above all, there has been a massive residential boom, with a record number of building permits granted and project launches for such projects. But the prices for homes, plots and building materials have also all risen
Residential developers in Poland were unusually active over the first three quarters of 2021, launching the construction of 128,000 apartments for sale or rent. This was 36 pct more than in the same period of 2020 and more than in the first three quarters of each year up to the record year of 2018. That was a record-breaking year overall, but the record is now set to be broken when you consider the number of building permits, which has increased by 37 pct in comparison to the first three quarters of 2020.
Nevertheless, an element of uncertainty still lingers over the market due to the rising cost of building materials and the potential supply chain issues that could exacerbate the difficulties the construction market is facing. High inflation also poses a risk, which could even force some contractors into bankruptcy. Considering the large number of permits and project launches, records are also certain to be broken in terms of the number of handovers over the coming months and years.
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