Residential market in Poland – Q1 2020
Despite the perturbation associated with the Covid-19 pandemic, developers sold 14% more apartments in Q1 2020 than a year ago.
Every quarter for several years now, we have been collecting, using the same market research methodology, and sharing available information on the current situation on the market of new residential units in the largest cities in Poland. We strive to provide data as quickly as possible to enable readers of our reports to assess the current condition of the industry, and to present our take on the trends on the market and its potential situation in the near future.
However, the current circumstances are exceptional, so we have decided to prepare our report in a slightly different way.
The first part of this publication is a summary of the situation just before the crisis. To this end, we will use our market monitoring data collected at the end of March 2020 in six cities with the largest turnover on the housing market.
The second is an attempt to find a benchmark for the situation in which we are. In the absence of other points of reference, it is natural to look at the recent crisis on the housing market that started in September 2008. Library of studies and regularly updated databases regarding the Polish housing market transferred to JLL with acquisition of REAS are one of the most valuable assets of the Residential Team and enable us today to access the entire archives from twelve years ago: numbers, analyses, comments and opinions. We have used them to prepare the second part of the report that we are now presenting to you.
Can we draw conclusions about the future of the housing market today? Details in the report.