Building costs per square meter for residential properties in Poland 2018, by type
The residential properties in the categories of individual detached or terrace housing had construction costs of nearly 2.8 thousand zloty per square meter in 2018, making these the cheapest residential buildings to construct of the building types under observation.
There is a constant increase in new office investments in Poland. The supply has been high recently, but the demand still seems to be unmet. This is reflected in the commissioning of new office buildings, especially in the largest cities in the country. The costs of building office buildings oscillated depending on the type. Business parks had the lowest construction costs on the market.
For commercial real estate, shopping centers invariably remain the dominant format in the retail space market in Poland. Building costs per square meter of a large shopping center, including a mall in Poland, amounted to over 3.6 thousand zloty in 2018. Saturation of the market in major agglomerations, visible changes in customers' behavior, and expectations influence changes in the planned supply of retail facilities. In the coming years, the supply will be affected by the increased demand for small shopping centers, retail parks, and multifunctional facilities.
Despite a growing number of flats, the prices are not falling, but on the contrary, they are continually rising. An increase in prices was recorded in every bigger city. The most significant price increase on the primary market was recorded in Katowice, while on the secondary market, Zielona Góra prevailed. Nevertheless, Poles pay the most for a flat in the Polish capital Warsaw. In January 2020, the price per square meter of an apartment on the secondary market exceeded 11 thousand zloty, while the price per square meter on the primary market was close to 10 thousand zloty. However, the coronavirus (COVID-19) outbreak in Poland in March 2020 affected the investment plans on the real estate market. Both individual customers and developers recorded a significant drop in the number of construction projects commenced during this period.
Building costs per square meter of internal area in Poland
There is a constant increase in new office investments in Poland. The supply has been high recently, but the demand still seems to be unmet. This is reflected in the commissioning of new office buildings, especially in the largest cities in the country. The costs of building office buildings oscillated depending on the type. Business parks had the lowest construction costs on the market.
For commercial real estate, shopping centers invariably remain the dominant format in the retail space market in Poland. Building costs per square meter of a large shopping center, including a mall in Poland, amounted to over 3.6 thousand zloty in 2018. Saturation of the market in major agglomerations, visible changes in customers' behavior, and expectations influence changes in the planned supply of retail facilities. In the coming years, the supply will be affected by the increased demand for small shopping centers, retail parks, and multifunctional facilities.
Demand for housing in Poland
Despite a growing number of flats, the prices are not falling, but on the contrary, they are continually rising. An increase in prices was recorded in every bigger city. The most significant price increase on the primary market was recorded in Katowice, while on the secondary market, Zielona Góra prevailed. Nevertheless, Poles pay the most for a flat in the Polish capital Warsaw. In January 2020, the price per square meter of an apartment on the secondary market exceeded 11 thousand zloty, while the price per square meter on the primary market was close to 10 thousand zloty. However, the coronavirus (COVID-19) outbreak in Poland in March 2020 affected the investment plans on the real estate market. Both individual customers and developers recorded a significant drop in the number of construction projects commenced during this period.
