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POLAND Home rentals bigger than expected

Residential
Polish people are increasingly choosing to rent because home prices have reached sky-high levels, claims Cushman & Wakefield based on a survey by SW Research.

The home rental market is far larger and more active than official figures would suggest. The survey shows that 18 pct of the respondents are renting an apartment or a house (567 out of 3,078).

The residential market is red hot and homes on the new-build market are selling out almost as soon as a building permit is secured, with prices rising by the quarter. Buyer activity is gathering pace, driven by low-interest rates and cheap lending. Spiralling prices are, however, benefiting the home rental market, which has become tenant-friendly on account of the pandemic. Rents have fallen almost across the board and there are real bargains to be found in adverts. Poland continues to lag behind its western neighbours, but the number of home renters has been rising by the year and looks set to grow.
Karolina Furmańska, a senior residential analyst at Cushman & Wakefield

Over 42 pct of the respondents in Cushman & Wakefield’s survey – and 43 pct of those wanting to rent a flat in the next twelve months believe that home prices are too high and therefore they tend to prefer renting over buying a home. Another 11 pct of all the respondents (and as many as 41 pct of those intending to rent an apartment over the year ahead) lack a strong credit history.

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