Biznes Fakty
Real Estate Market in Poland 2025. Apartment Sales Slowed Down
In the first half of 2025, developers managed to sell 18,300 apartments. This figure represents a decline of about 10 percent compared to the same period last year, despite the fact that the housing market is experiencing a historic peak, with 62,000 units available for sale. According to Otodom, a stagnation in the market may be on the horizon.
Experts from Otodom have assessed that the Polish housing market in the first half of 2025 is showing signs of „clear stabilization following a previous period of recovery.”
Data from Otodom Analytics reveals that in the seven largest cities, developers sold 18,300 apartments, marking a roughly 10% drop from the same timeframe last year. Meanwhile, 23,300 new units were introduced to the market, reflecting a 20% decrease compared to the previous year. „Concurrently, the housing inventory reached an unprecedented high – buyers had the option of over 62,000 units, which is 30% more than a year prior,” the experts commented.
Kraków stands out amid the declining trend
They noted that May was a „strong sales month,” but the downward trend observed in recent months resumed in June. Apartment sales dropped by 18% relative to May, and the number of new units listed fell to just 2,500.
„This clearly indicates that the temporary interest rate reduction in May had a short-lived, favorable effect on purchasing choices, but did not alter long-term market sentiment. Interestingly, despite the drop in sales and investments, the overall apartment supply remained stable compared to May, primarily due to the return of previously reserved apartments to the market,” the experts remarked.
Kraków was unique in this context – it was the sole city analyzed that experienced an increase in sales, with 2,900 apartments sold in the first half of this year, representing a 12% increase compared to the previous year. „However, this figure remains significantly lower than during the market boom, when over 5,000 units were sold in a six-month period. In this instance, the rise in available inventory was crucial – the number of apartments for sale doubled compared to the previous year, greatly enhancing customer choice,” the experts stated.
The sector is in a phase of „cautious waiting”
They further noted that Katowice experienced a 22% decline in sales year-on-year, while Łódź, Wrocław, and the Tricity area saw decreases of 10-12%. According to the experts, the figures in Warsaw and Poznań were poorer than those from the previous year. Following a robust first quarter of 2024, driven by the 2% mortgage initiative, the entire sector has entered a phase of cautious waiting.
„Developers are evidently adjusting their offerings to align with actual sales rather than projected figures. The increasing supply and lackluster results are prompting them to reassess their investment strategies,” added Marcin Krasoń, a housing market expert from Otodom.
As the authors of the report have pointed out, the situation in Katowice is particularly alarming. For nearly a year, they have observed a record oversupply compared to demand. „In the last 12 months alone, 3,800 units were introduced to the market, whereas fewer than 1,600 found buyers. A similar scenario, albeit on a smaller scale, is also occurring in Poznań and Łódź,” they noted.
In Tricity, prices increased by 10 percent, while in Wrocław, they decreased by 3.8 percent.
Experts also reported that in Wrocław, since the peak in the autumn of 2024, the average price has decreased by around PLN 550 per square meter, or 3.8 percent, and prices are down 2 percent year-on-year. In Kraków, there has been a 2.4 percent drop in asking prices compared to the previous peak, with a slight year-on-year increase of 2 percent. „In Katowice, Łódź, and Poznań, prices remain at record levels, with only modest increases of a few percent. The Tricity area is an exception, where the average price per square meter has surged by 10 percent over the past year,” they added.
The report indicates that the development market is currently in a stabilization phase. The expert emphasizes that significant changes are unlikely in the coming months, and any further price reductions will probably occur gradually.
„There won’t be any dramatic adjustments in rates, but the market will compel companies to be more adaptable and responsive to the genuine needs of buyers. Success will hinge not on quantity but on quality and the customization of offerings to meet the increasingly discerning market,” Krasoń concluded.
According to experts, in the first half of this year, the housing market „has never had such a vast selection of apartments available,” yet there were „significantly fewer” buyers ready to make a purchase.
