When we say ‘an apartment’, we often see before our eyes a flat, which meets specific needs with its size, spaciousness or location… However, taking into account the ever-changing market, and at the same time the trend of increasing requirements and raising living standards, the purchase of a flat is not only a dream come true for those who want comfort, but also for those who seek a long-term investment of their funds.
At the moment, apartments in larger Polish cities offer the same standard as in other world capitals, while the purchase price stays around the minimum, which is many times lower than the prices of apartments in New York and the like.
According to EY analysts the prices of apartments are around 4.7 thousand Euro (PLN 20,000) per square meter. In the center of Warsaw, apartments of the highest standard are sold at prices of 9.5 – 14.3 thousand euro (PLN 40-60 thousand) per meter. A lot? Not really. It is a fraction of the current price in other countries. For comparison, the prices of similar apartments in nearby Berlin are around 30,000 Euro, and on the other side of the ocean (NY) even 100 thousand. However, what is most important, current trends and the rate of development of the Polish capital suggest that the prices of flats will grow steadily, and, according to the forecasts, the prices of apartments in the next 3-5 years will reach the price levels of Berlin or Amsterdam. Probably in the next decade, rates per square meter in a luxury location will become the prices of current New York standards.
What does it mean? For investors and people looking for a way to invest capital, buying an apartment in the centers of large Polish cities is one of the best future-oriented investments.
