The prices of new apartments in Poland’s largest cities remained stable month-over-month in December 2024, fluctuating within a 0–1% range, according to preliminary data from Big Data RynekPierwotny.pl. On a year-over-year basis, however, prices rose between 5% and 12%, with Wrocław experiencing the highest increase and Warsaw the lowest. “In 2024, the average price per square meter for apartments offered by developers increased across all major cities. Notably, five of these cities saw single-digit growth, which hasn’t occurred in the past six years,” commented portal expert Marek Wielgo. Regional Trends in Price Increases • Wrocław topped the list with a 12% increase, bringing the average price per square meter to approximately PLN 14,700. • Łódź saw a 10% increase, with prices nearing PLN 11,500 per square meter. • Poznań came in third, recording an 8% rise to approximately PLN 13,300 per square meter. • In Kraków, prices rose by 7%, reaching around PLN 16,500 per square meter. • The Tri-City area experienced a 7% increase as well, while the Upper Silesian-Zagłębie Metropolis saw a 6% rise to PLN 11,200 per square meter. • Warsaw, Poland’s most expensive city, had the lowest increase at 5%, with prices averaging PLN 17,700 per square meter. Notable Market Dynamics Wrocław stood out as the only city where apartment prices have consistently grown at a double-digit rate over the past six years. Kraków, which previously shared this trend, experienced a marked slowdown in 2024. Warsaw also recorded its smallest increase in six years, marking a shift toward more moderate growth. Encouragingly, the second half of 2024 saw a deceleration in price increases. Preliminary December data from Big Data RynekPierwotny.pl indicated that average prices in all cities either stabilized or slightly decreased, with a 1% drop observed in the Tri-City. Outlook for 2025 According to Wielgo, there is a possibility of price stabilization or even slight declines in 2025, contingent upon developers increasing the supply of more affordable housing. Evidence of this trend emerged late last year in cities like Warsaw, Kraków, Łódź, and Poznań. However, there remains a risk of a less favorable scenario for buyers: an increase in supply focused primarily on high-end properties targeted at affluent clients. This could drive average prices upward again, as was the case in November 2024 in the Tri-City, where the entry of luxury apartments priced at PLN 21,200 per square meter pushed the average price up by 4% month-over-month. Another potential factor influencing future prices is the acceleration of infrastructure projects under the National Recovery Plan. This could lead to increased costs for building materials and labor, further impacting housing prices, Wielgo concluded. Source: RynekPierwotny.pl and ISBnews