Market environment

The year 2025 will see a continuation of the trends observed in previous years on the Polish residential real estate market. Despite gradual stabilization, this sector remains under the influence of a number of macroeconomic and regulatory factors and evolving buyer preferences. The growing supply of apartments, difficult access to mortgage loans and changing financial conditions mean that the industry is constantly modifying its strategies.

In Q1 2025, the Polish residential market was characterized by record supply – over 13.4 thousand units entered the market in all six agglomerations, which is 11.2% more than in the previous quarter. Much more apartments than in the previous quarter were put up for sale in Kraków and Łódź. A slight increase was recorded in Wrocław and Poznań, while a decrease occurred on the market in Warsaw.

At the same time, the growing offer means that buyers have an increasing choice of premises. In Warsaw, Krakow and Wroclaw, the number of available apartments remains high, which favors more competitive sales conditions.
In Q1 2025, one quarter fewer mortgage loans were granted than in the same period of the previous year, but 2.7 percent more than in the last quarter of 2024.
Data from the banking sector indicate an increase in interest in mortgage loans after two months of declines – in January 2025, the number of loan applications increased by 9% compared to December. At the same time, the creditworthiness of potential buyers remains under pressure – in seven of the ten largest banks, the average available loan amount has decreased. The range of offers from individual banks remains significant, which makes the selection of optimal financing an important element of the apartment purchase process. Data from the housing market for Q1 2025 confirm the high stability of the housing loan market, which has been on the market for three quarters. In the period from January to March this year, banks in Poland concluded over 48,000 loan agreements with a total value of PLN 20.4 billion.

In the first quarter of 2025, the Polish housing market was characterized by a record number of apartments on offer – the number of apartments available on the six main markets exceeded 59 thousand, which is the highest value in history. Despite the large offer, the sale of new apartments remained at a moderate level, recording declines compared to the end of 2024. The reason for the recorded declines or at most maintaining a similar level was expensive mortgage financing, numerous voices of politicians emphasizing that taxes on additional apartments owned should increase, which has a deterrent effect on potential buyers of apartments for rent, and additionally, with the exception of the Warsaw and Krakow markets, some potential buyers who do not own apartments may wait for the government’s announced subsidies for loans on the secondary market. Others are withholding decisions, counting on a drop in prices and exceptional promotions. The unstable geopolitical situation may also have a negative impact on the mood of some buyers.