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Last Updated: Apr 30, 2009

Poland keeps it moderate at an average of 5.38%

Last Updated: Apr 30, 2009
WARSAW - Sródmiescie - Apartments COST (€) YIELD (p.a.) PRICE/SQ.M. (€)
TO BUY MONTHLY RENT TO BUY MONTHLY RENT
40 sq. m. 126,280 521 4.95% 3,157 13.03
80 sq. m. 236,800 994 5.04% 2,960 12.42
120 sq. m. 401,760 1,951 5.83% 3,348 16.26
160 sq. m. 521,760 2,477 5.70% 3,261 15.48
WARSAW - other areas apartments
40 sq. m. 87,160 458 6.31% 2,179 11.46
80 sq. m. 179,680 906 6.05% 2,246 11.32
120 sq. m. 297,360 1,666 6.72% 2,478 13.88
KRAKOW - Apartments
40 sq. m. 118,280 448 4.55% 2,957 11.20
70 sq. m. 183,260 705 4.62% 2,618 10.07
120 sq. m. 304,920 1,026 4.04% 2,541 8.55
Warsaw: Śródmieście, Mokotów, Ursynów; Wilanów; Żoliborz
Krakow: Old Town (Stare Miasto), Kazimierz
Source: Global Property Guide                    Definitions: Data FAQ                       See also: Update Schedule

Gross rental yields on apartments in Srodmiecie, Warsaw, stand at an average of 5.38%, according to the Global Property Guide.  Yields on apartments in other areas of Warsaw are higher, at 6.36%. 

Krakow apartments now have gross rental yields of only 4.44%, perhaps partly reflecting the 9% price rises occuring during the past year.

Economic gloom has settled on Poland.  Nevertheless, the 1st quarter of 2009 saw the average price per square metre of Polish apartments appreciate 5% over the same period last year, according to the real estate site Mamdom.  In Warsaw, prices of residential apartments remained unchanged during 2008, while the average price of apartments newly introduced to the market rose 2% during the quarter to end-Q1 2009, according to real estate consultancy service REAS. 

While there is a significant overhang of new buildings, developers have drastically reduced the number of buildings started, due to banks’ increasing caution, as well as decreased demand.

The number of apartments launched in the first quarter of 2009 was nearly 5 times down on the first quarter of 2007, and over 3 times lower than the first quarter of 2008, according to REAS.   In Warsaw, the number of new apartments launched was 4 times down in Q1 2009 compared to the same period last year.  There were 1,600 residential units sold in the first quarter 2009, compared to the average of the 3,000 – 4,000 in first quarter of 2008.

 

Poland - more data and information

Your Comments

posted by Maggie Kaniewska | 2007-05-08

student, Poland

I would like to know how the figures given above have been collected and how reliable the source is, are those datas valid (the first quarter of 2007)

posted by Matthew Pollock | 2007-05-09

Editor, Global Property Guide

The Global Property Guide's data is based on upper-end apartments in prestigious areas, such as appeal to foreign renters. We draw our figures from an analysis of web advertisements selling and renting good (but not new) apartments. Possibly, there may be some upward bias in Global Property Guide yields figures. When one sells an apartment, one is arguably less likely to decorate it to perfect condition, than when renting. So the renting and selling categories may not be precisely comparable. But since we use the same method in all countries, the user can make comparisons across countries. The Poland data were collected in mid-March 2007, so they are current.

posted by Matthew Pollock | 2008-06-11

Editor, Manila, Philippines

Ignore that last comment! Our latest data update was in April 2008.

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