Develia has sold 1,225 units since the beginning of 2022

Based on developer and preliminary agreements, Develia sold 1,225 units in the first three quarters of 2022, compared to 1,500 units in the same period last year, which means a decrease by 18%. In the third quarter of this year. the developer sold 261 units compared to 438 in the third quarter of 2021.

Develia at the end of September this year. it also had 106 reservation agreements concluded which, after the clients have made a decision, may turn into development agreements in the near future.

"Taking into account the market situation, the result for three quarters of this year is satisfactory for us. Sales in January-September were 18% lower compared to the very good, analogous period in 2021," says Andrzej Oślizło, president of Develia. "The accumulation of interest rate increases in the second quarter resulted in lower interest of clients looking for a flat for their own needs, which translated into the result in the third quarter. Over the last three months we have recorded more contacts from customers and now their level is similar to last year's. However, many clients hold back their decisions even though their housing needs have not changed. We can expect that in some time we will observe deferred demand, similarly to the first half of 2021. It will probably result in less availability of apartments due to the fact that many developers currently severely limit new investments," summarizes Andrzej Slippery.

In the third quarter of 2022, the largest number of flats was found in the following investments: Aleje Praskie (Warsaw), Centralna Park (Kraków), Szmaragdowy Park (Gdańsk) and Kaskady Różanki (Wrocław).

In the period of July-September 2022, Develia delivered 420 apartments compared to 521 in the same period last year. Since the beginning of the year, the developer has delivered 626 units compared to 1,279 in the same period of 2021. According to the project schedule, the accumulation of deliveries will take place in the fourth quarter of this year, which will translate into a significant improvement in Develia's results for 2022.

Photo: Caglana Park, Develia