Residential market in Poland – Q4 2020 

Sales of 14,000 apartments in the fourth quarter and 53,000 in 2020, is an exceptionally good result, and only 19% down on 2019’s performance. The sector looks to 2021 with optimism.

January 27, 2021

Despite the second significantly more serious wave of the pandemic and the economic recession, the results of the new housing sales market in Q4 2020 turned out to be better than expected. The number of units sold in Poland’s six largest markets in Q4 2020 was an improvement on Q3. In fact, the year closed with a much better result than one could have imagined at the beginning of April 2020. Compared to other sectors of the economy, the housing sector is coping well in this exceptionally difficult situation. The good shape in which the residential real estate industry was in at the beginning of 2020, allowed developers to make rational decisions and quickly adapt their operations to the new market conditions. Institutional investors’ continuing interest in building asset portfolios in Poland in the Living sector confirms that the Polish market is a stable and safe place for investing capital. The sector looks to 2021 with optimism.

Primary market in 2020

Developers operating on the six largest residential markets in Poland sold a total of 53,000 units in 2020, which is a 19% drop on the previous year. New supply fell 24% during 2020 and was 4,400 units fewer than the number of units sold. As a result, at the end of December, there were still 48,000 new units left in the offer on the primary market. Compared to the end of 2019, there was no decline in the prices of units remaining on offer on any of the analysed markets.

The living sector in Poland

The living sector has continued to attract global capital despite the disruption of the COVID-19 environment. In fact, investment activity has even increased, as the living sector proved to be among the most resilient assets classes in the real estate industry. In Poland, we recorded transactions of approximately €260 million in 2020, both in multifamily and student housing, with new investors entering the scene. 


More on the key factors describing the situation on the Polish housing market in 2020 in the latest report. We encourage you to read.


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