VOICE - REAL ESTATE
23
"If buyers in Poznaƒ react in a similar way to the increased number of flats available, then more record sales are still to come in Poznaƒ", says Katarzyna Kuniewicz, Head of Residential Research at JLL. "The Polish property development market is still thriving. Although sales have decreased in most cities compared to the record highs of 2017, Polish cities remain ahead of other cities in the region and Europe in terms of the number of flats built with a view to being sold", adds Kazimierz Kirejczyk, Vice-President of the Management Board at JLL. The report on the Residential Market in Poland - Q1 2019 does not conclude however that the sector has no cause for concern. The crucial factor for stability in the sector is maintaining a balance between supply and demand. It is this balance that has enabled the Polish residential
market to grow in the last few years. The key issue as regards flexibility of supply will be the envisaged legislative developments, such as a return to the option of purchasing arable land within city boundaries and a new Zoning Act. The factor hampering demand could be further price hikes, which will be inevitable if supply continues to be limited. "The increasing number and ever greater activity, on the part of investment funds interested in purchasing entire residential buildings for long-term letting, will present an opportunity for maintaining the current level of transactions in the next years. More and more developers are beginning to see institutional investors as a means to sell flats", says Pawe∏ Sztejter, Evecutive Director, Head of Living Services, JLL.
Kazimierz Kirejczyk, Vice-President of the Management Board at JLL.
Pawe∏ Sztejter, Evecutive Director, Head of Living Services, JLL.
Summer 2019, The Warsaw Voice magazine Limited Edition