This year, even 230,000 apartments may be built

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Good data from the housing estate give more and more hope that more apartments and houses will be delivered to use this year than in the previous year. Already then, almost 221,000 residential properties were built in Poland. It was the highest result in 4 decades. We are on the right track to improve this level.

In 2021, the result is at your fingertips at the level of approximately 230,000 new houses and apartments, the construction of which will be formally completed, suggest HRE Investments estimates based on the latest GUS data. Data for December will be of key importance here – as traditionally, this is the month in which most apartments are delivered to the market.

It is worth realizing that the aforementioned 230,000 new houses and apartments are still far from the all-time record. This one fell in 1978. At that time, almost 284,000 new apartments were built in Poland. This is over a fifth more than the result that we can achieve this year.

However, the number is one thing, and the area of ​​the flats under construction is another. There is no need to convince anyone that in the seventies the standard and size of the constructed real estates significantly differed from what the countrymen expect today. Suffice it to say that in the record-breaking year in terms of the number of completed apartments in 1978, 17.6 million new square meters were created in Poland. This year it will be around 20 million square meters, despite the smaller number of properties where the keys will be transferred to new owners.

Everything indicates that not only this year, but also in the following years, we will be making up for the shortages in the housing sector more and more quickly. This may be suggested, for example, by the latest data on the number of building permits issued or construction starts. In the first case, after 10 months of this year, we can already talk about administrative decisions that allow for the construction of over 283 thousand. new apartments. It is over 29 percent. more than a year ago. We owe such a high result mainly to developers. These are the backbone of housing construction in Poland. During the aforementioned period, they received building permits for over 174,000. apartments. Compatriots who want to build for their own needs received another almost 106 thousand. permits. At that time, social, municipal, cooperative and company construction were responsible for building permits for just over 3,000. apartments.

However, one should be aware that not all issued building permits are always converted into actually built apartments. Therefore, we should look more closely at the data on flats whose construction has begun. We also have very good data here. It turns out that for 10 months the construction of nearly 239,000 new flats has started in Poland. Here again, it is mainly due to developers who started the construction of almost 141,000 flats (about 39% more than in the same period last year). However, merits cannot be denied to compatriots who build for their own needs. In the period from January to October, they began to build almost 94,000. new homes. It’s about 19 percent. more than in the same period last year – according to GUS data.

Over time, these good data should translate into even higher numbers of flats delivered for use. However, it continues. The average construction carried out by a developer in Poland takes less than two years. It’s short anyway. The data from the Central Statistical Office suggests that the construction of an average single-family house takes much longer for Poles – almost 49 months.

Bartosz Turek, chief analyst at HRE Investments

About Eric Wilson

The variety offered by video games never ceases to amaze him. He loves OutRun's drifting as well as the contemplative walks of Dear Esther. Immersing himself in other worlds is an incomparable feeling for him: he understood it by playing for the first time in Shenmue.

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