Dom Development has announced record sales and handovers for 2024, solidifying its position as a leader in the Polish residential property market. The company sold 4,269 units to retail customers last year, a 9% increase compared to 2023, including 1,159 units sold in the fourth quarter alone, which marked an 18% year-on-year rise. Handovers also reached new heights, with 3,916 units delivered to retail buyers, a 2% increase from the previous year. Additionally, the group transferred 300 units to an institutional investor in the Private Rental Sector (PRS). Dom Development’s CEO, Mikołaj Konopka, described 2024 as a milestone year, highlighting the company’s record-breaking performance despite a cooling in market demand. The uncertain economic environment, driven by high interest rates and the withdrawal of a government-supported loan program, created challenges for developers. However, Dom Development’s sales not only surpassed 2023 levels but also exceeded the previous record set in 2021. Konopka attributed the success to the company’s strategic alignment with market expectations, particularly its ability to cater to both credit-financed and cash buyers. In the fourth quarter of 2024, 56% of transactions were financed by loans, while 44% were cash purchases. “The majority of our flats are sold during the construction phase, demonstrating the strength of our offering,” he noted. Konopka also reaffirmed the company’s commitment to continued growth, emphasizing regular land acquisitions and new project launches. The company’s vice president and CFO, Leszek Stankiewicz, expressed optimism about Dom Development’s financial results for 2024, citing the increased number and value of units handed over. “In 2024, we handed over 4,216 units to customers, including 3,916 to retail buyers, surpassing the previous record of 3,831 units in 2023. This significant increase in handovers, combined with the scale of our ongoing investments, positions us to deliver strong financial performance in 2025,” Stankiewicz said. The Polish residential market faced challenges in 2024, including persistently high mortgage rates, which are among the most expensive in the European Union, and a shift in government policy regarding housing loans. Despite these headwinds, Dom Development reported steady demand for its offerings, driven in part by a recovering housing supply that eased price pressures and expanded options for buyers. As Dom Development looks ahead, it remains focused on maintaining its growth trajectory and meeting shareholder expectations. With projects on schedule and a robust sales pace, the company is optimistic about achieving continued success in the years to come. Source: Dom Development and ISBnews Photo: Beethovena, Dziekońskiego 4, Mokotów, Warszawa