Developers operating in the six largest Polish cities sold 17,600 units in the fourth quarter of 2019, 9% more than in the previous quarter, the JLL report Residential Market in Poland Q4 2019 found.
Sales in Warsaw increased the most, by as much as 22% quarter-on-quarter, which resulted in 6,800 units being sold in Q4 and 24,300 throughout the year.
In Poznań sales fell by 10% between the third and fourth quarter of 2019, though annually there were 30% more sales.
In Kraków however sales activity dropped by 12% year-on-year.
Łódź saw 4,800 units sold, which is 3% better than last year.
Katarzyna Kuniewicz, head of residential research, JLL, said: “The level of sales recorded throughout the year – better than previously assumed – may seem surprising, but only if we do not look at the number of launches.
“Up to the third quarter, the slow decline in the number of units being launched was accompanied by quite good sales, but close to the number of launches.
“The abrupt increase in supply in the last quarter of the year met with a positive response from demand despite constantly rising prices.
“Everything therefore indicates that it is not prices that inhibited sales, but not enough choices for buyers to meet their expectations.
“This is also confirmed by record numbers in Poznań and Łódź, where a clear increase in supply helped achieve sales records.”
