Polish housing market booming: expert
PR dla Zagranicy
Poland’s residential property market is booming amid high demand, low interest rates and encouraging developments on the labour market, a real estate expert has said.
Photo: AKuptsova/pixabay.com/CC0 Creative Commons
According to Katarzyna Bednarczyk, apartment sales in Poland at the moment are nearly 80 percent higher than they were during a previous housing boom in 2007.
"Over the past several years, essentially since 2014, the real estate market has been setting new records all the time," Bednarczyk told Poland’s PAP news agency.
This is chiefly due to a combination of consistently low interest rates, relatively cheap mortgages and unprofitable bank deposits, making investment in housing a "much better option," she said.
Another important factor, according to Bednarczyk, is low unemployment, which helps people plan for the long term.
Foreign investors are increasingly interested in investing in the Polish housing market due to reasonable price tags and the low costs of property maintenance, according to Bednarczyk.
There is still a shortage of around 3 million housing units in Poland to meet the European average in terms of the number of dwellings per 1,000 inhabitants, Bednarczyk said. (str/pk)