Flat prices in Katowice in the third quarter of 2017
Text from 2018. Laws, rates and prices may have changed since then. Ask an agent
In the third quarter of 2017 prices on the property market in the Silesian agglomeration are rising. This affects both primary-market and secondary-market flats. How have prices changed in recent months? Did prices rise compared with the same period last year? What factor affects demand for flats in the Silesian agglomeration?
Higher flat prices on the primary market in Katowice
In the third quarter the average asking and transaction prices of flats in Katowice increased. Above all, prices rose for flats with an area of 40-60 m2 (by 4.1%) and 60-80 m2 (by 4.2%). It should be noted that the changes did not affect flats larger than 80 m2, whose prices did not rise.
The median transaction price on the primary market in the third quarter was 5,300 PLN/m2 and was higher than the average transaction price. This in turn means that most flats were sold for more than the average transaction price.
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 Regional Branch in Katowice, Statistics and Foreign Exchange Department, Flash report – the residential property market in Katowice and in selected cities of the Silesian agglomeration – Q3 2017.
More expensive flats on the secondary market in Katowice
On the secondary market the average asking prices fell slightly, but the average transaction prices still increased compared with last year and with the second quarter. As on the primary market, this most affected the segment of flats with an area of 40-60 m2 (prices rose by 9.2% compared with the previous quarter) and 60-80 m2 (prices increased by 8.7% compared with the previous quarter).
The median price on the secondary market in Katowice was 3,706 PLN/m2. It was therefore lower than the average transaction price, meaning that most flats were sold below that value.
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 Regional Branch in Katowice, Statistics and Foreign Exchange Department, Flash report – the residential property market in Katowice and in selected cities of the Silesian agglomeration – Q3 2017.
High prices on the secondary market in the cities of the Silesian agglomeration
As in previous quarters, the most expensive places to buy flats in the Silesian agglomeration were Katowice and Tychy, as well as Gliwice, Jaworzno and Mikołów. Prices there exceeded 3,000 PLN/m2. It is worth noting here that Katowice recorded the fastest rate of price growth compared with the previous quarter.
The lowest flat prices were in Bytom, Ruda Śląska and Piekary Śląskie. Interestingly, in the last of these cities a significant price increase compared with the previous quarter can also be seen. To sum up, in the third quarter of 2017 the price gap between the cities where flats could be bought at the highest and the lowest prices widened. In the second quarter it was 1,531 PLN/m2, while in the third it was already 1,697 PLN/m2.
Average asking and transaction prices of flats on the secondary market in Katowice and selected cities of the Silesian agglomeration (PLN/m2)
Source: Flash report of the National Bank of Poland Regional Branch in Katowice, Statistics and Foreign Exchange Department, Flash report – the residential property market in Katowice and in selected cities of the Silesian agglomeration – Q3 2017.
MdM subsidy in the Silesian Voivodeship and Katowice
An undoubted factor that supported demand for flats in the Silesian agglomeration is the government programme "Mieszkanie dla Młodych" (Flat for the Young). The programme could be used on both the primary and the secondary market. In the Silesian Voivodeship, since the programme began, as many as 8502 applications have been submitted (8.7% of all applications in Poland), including 6124 applications on the secondary market. The subsidy on both markets in the Silesian Voivodeship amounted to 193.0 million PLN. In Katowice alone, 1204 applications have been processed to date, with a value of 31.0 million PLN.
