The light in the window

There has been no shortage over the last three years of unexpected events that have brought serious disruption to the residential sector. However, signs of a possible return to normality could be discerned at the end of 2022. “After the temporary slump in sales in Q2 2020 brought on by the pandemic, the market sentiment quickly improved. The number of new units subsequently sold was the highest on record for the Polish market. The following year brought with it a further change in the situation, resulting in another slump in home purchases in mid-2022. Soaring inflation, the war in the east, and the dire situation on the mortgage market resulted in demand slowing. In Q1 2023, nevertheless, we’ve already seen a completely different level of sales. Buyers, who up until now had just been watching what was happening, have returned,” claims Aleksandra Gawrońska, a director and the head of residential research at JLL. As the results of the leading Polish developers show fo