October 2024 confirmed a stabilizing situation on the Polish real estate market. According to the Morizon Gratka Group report, the Housing Price Index (HPI) increased by 0.1% compared to September, reaching 1876.6 points. Annually, the growth amounts to 11%, mainly due to a price surge at the end of 2023.
However, after accounting for inflation, we see a real price decline. The index in real terms stood at 1007.2 points – a 5.7% year-on-year increase but a 0.2% decrease compared to September.
Stability in local markets
An analysis of the 18 largest Polish cities indicates stable prices, with slight changes in individual locations:
- Highest price increases: Gdańsk (+2.14%) and Bydgoszcz (+1.99%).
- Largest price declines: Katowice (-1.74%), Kielce (-1.41%), Kraków and Poznań (-1.16%).
- No changes: Olsztyn, Rzeszów.
Warsaw maintains its position as the most expensive city with an asking price of 17,798 PLN/m² (+0.55% m/m). Meanwhile, Gorzów Wielkopolski remains the cheapest city (7,523 PLN/m², -0.71% m/m).
