Flat prices in Katowice (fourth quarter of 2015)
Text from 2016. Laws, rates and prices may have changed since then. Ask an agent
The government's "Mieszkanie dla młodych" (Flat for the Young) programme plays a big role in shaping prices on the property market in Katowice. It is certainly also one of the key factors supporting demand on the housing market. So how did average property prices in Katowice develop in the last quarter? What caused them to rise or fall?
The information presented below, concerning Katowice and some cities of the Silesian agglomeration, comes from a survey by the National Bank of Poland, Regional Branch in Katowice.
The primary market in Katowice
First, average asking prices remained stable compared with the previous quarter, while average transaction prices in Katowice rose. The table below illustrates this:
Average asking and transaction prices of flats on the primary market in Katowice (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 some cities of the Silesian agglomeration – fourth quarter of 2015
Please note that the price rise did not extend to flats in the 40-60 m2 segment, which, incidentally, have the largest share of the market.
The most likely cause of this state of affairs is the "Mieszkanie dla młodych" (MdM) programme. As I mentioned in the previous article, "The queue for MdM subsidies for property in Katowice", it is highly likely that developers are deliberately lowering prices so that buyers can receive funding from the programme.
The secondary market in Katowice
Let us recall that since 1 September last year, properties on the secondary market have been covered by the MdM programme. That is why on the secondary market the average transaction prices of flats in the popular segment of 40-60 m2 have also fallen. The rest of the data remains largely unchanged.
Average asking and transaction prices of flats on the secondary market in Katowice (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 some cities of the Silesian agglomeration – fourth quarter of 2015
Where in the Silesian agglomeration were flats sold at the highest prices? First of all in Katowice, and also in Mikołów, Tychy and Gliwice. The average transaction price in these areas was above 3,000 PLN/m2. The cheapest flats, on the other hand, could be bought in Bytom, where prices did not exceed 2,000 PLN/m2.
Average asking and transaction prices of flats on the secondary market in Katowice and some 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 some cities of the Silesian agglomeration – fourth quarter of 2015
