Flat prices in Katowice (second quarter of 2016)
Text from 2016. Laws, rates and prices may have changed since then. Ask an agent
Here is another analysis of the property market in Katowice and selected cities of the Silesian conurbation, this time for the second quarter of 2016. In which segment did transaction prices of flats turn out lower, and in which higher? Has the situation on the market in Katowice changed compared with previous quarters?
The primary market in Katowice
In Q2 2016, compared with previous months, average asking and transaction prices of flats in Katowice fell. Above all, on the primary market flats with an area of up to 40 m2, 40-60 m2 and 60-80 m2 were bought much more cheaply. The exception was properties with an area of more than 80 m2, as their average transaction prices rose.
As the chart below shows, the median transaction price on the primary market in Katowice was 4,718 PLN/m2. It is worth noting that many flats were sold below this amount.
Average asking and transaction prices of flats on the primary market in Katowice (PLN/m2)
*) number of m2 that can be bought with the average salary in the enterprise sector in Katowice at the average transaction price.
Source: Flash report of the National Bank of Poland, Katowice Regional Branch, Statistics and Foreign Exchange Department, Flash report – the residential property market in Katowice and some cities of the Silesian conurbation – second quarter of 2016.
The secondary market in Katowice
Two trends were observed on the secondary market. On the one hand, average asking prices of flats in Katowice rose; on the other, average transaction prices fell. This applied especially to flats with an area of up to 40 m2 and above 80 m2, which were mostly sold for less than initially offered. However, these changes did not affect flats in the popular segment (40-60 m2), whose prices proved stable. The same goes for flats of 60-80 m2, except that their transaction prices rose compared with the previous period.
The median transaction price on the secondary market was 3,387 PLN/m2, although many flats were sold below this price.
Average asking and transaction prices of flats on the secondary market in Katowice (PLN/m2)
* number of m2 that can be bought with the average salary in the enterprise sector in Katowice at the average transaction price.
Source: Flash report of the National Bank of Poland, Katowice Regional Branch, Statistics and Foreign Exchange Department, Flash report – the residential property market in Katowice and some cities of the Silesian conurbation – second quarter of 2016.
The housing market situation in the Silesian conurbation
In the Silesian conurbation, the cheapest place to buy a flat on the secondary market was Bytom. Relatively cheap flats were also offered in Czeladź, Piekary Śląskie, Ruda Śląska and Świętochłowice.
As in previous quarters, the highest flat prices were recorded in Katowice and Tychy. They were followed by Gliwice, Mikołów and Jaworzno.
Average asking and transaction prices of flats on the secondary market in Katowice and some cities of the Silesian conurbation (PLN/m2)
Source: Flash report of the National Bank of Poland, Katowice Regional Branch, Statistics and Foreign Exchange Department, Flash report – the residential property market in Katowice and some cities of the Silesian conurbation – second quarter of 2016.
