Real estate market: an exceptional half-year since 1989

Housing. Such a record half-year has not been seen since 1989. Crazy prices and hectic activity on construction sites

According to the Central Statistical Office (CSO), developers and investors who build houses have had a great six months. Apartments are mostly bought by people who want to earn money by renting.

Apartments and houses are being built like crazy - according to the Central Statistical Office. The first half of 2021 has proved to be a record in terms of the number of apartments and houses coming on stream, the number of building permits issued and the number of housing starts. Unfortunately, housing prices are also breaking records.

Housing with records. The best semester since 1989.

According to the Central Statistical Office (GUS), a total of 105,425 new houses and apartments were commissioned in Poland in the first half of 2021, 9 % more than a year ago. Interestingly, private investors building houses rather than developers are the main reason for this record. In fact, the number of completed homes increased by 30 % compared to the previous year.

There was also feverish activity on construction sites where investment had just begun. From January to June, a total of 144,561 apartments and houses were started, 44.6 % more than a year ago. Houses once again reigned supreme - June was the fourth consecutive month in which Poles started construction of more than 10,000 homes.

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The French real estate market experienced exceptional growth in the first half of 2021, with record results for over 30 years. Indeed, according to the latest figures published by INSEE, the number of real estate transactions has risen considerably, far outstripping those of previous years. The total amount of investments is also on the rise.

However, this strong demand is accompanied by significant price rises in some French cities. Paris and the Paris region in particular are experiencing an unprecedented surge in prices. The main reasons for this are insufficient supply to meet growing demand, and very low interest rates.

Even so, some experts predict that the real estate market will soon stabilize as government subsidies linked to the current health crisis are gradually phased out. To be continued...

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