In the year to the 4th quarter of 2024, housing prices in Poland increased by 10.4%, according to Eurostat. This was the sixth largest increase among EU member states after Bulgaria (18.3%), Hungary (13.0%), Portugal (11.6%), Spain (11.4%) and the Netherlands (10.8%).
On a quarterly basis, apartments and houses in Poland rose in price by 1.2%.
However, the growth rate of housing prices has slowed down. In the 1st, 2nd and 3rd quarters of last year, Poland was the leader in the dynamics of price increases in the EU. The highest figure was recorded in the 1st quarter, plus 18% year-on-year.
The slowdown in growth occurred due to the fact that the ruling coalition was unable to agree on the resumption of a subsidized mortgage program for first-time buyers.The program, introduced by the previous government, caused a rapid rise in prices.The new data confirms the conclusions of the Central Bank of Poland, which reported a broader cooling of the housing market, including a quarterly decline in prices on the secondary market in half of the country's provincial capitals, including Warsaw.
Source: Notes from Poland
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