After the massive influx of Ukrainian refugees to Poland, real estate rental prices in the country have risen significantly. However, in two years the demand on the market stabilized and in some cities prices for apartments began to fall. Despite this, the cost of rent remains higher than until February 2022.
According to data from the Otodom portal, to rent an apartment in a Polish city in March, you had to pay an average of 3.5 thousand zlotys, which is 2% cheaper than in February.
In general, in the first quarter of 2024, the average rental price was PLN 3,243. This is 0.7% more than at the end of last year.
Where did housing become cheaper?
Prices fell most noticeably in Opole. Here, rent has become cheaper by an average of 18%. It is also cheaper to rent an apartment in the cities of Trimisto (-12%) and Olsztyn (-10%).
In March, for the third month in a row, a slight decrease in the average housing supply rate was observed in provincial cities.
If we talk about annual indicators, then the cost of renting housing in Łódź has decreased most noticeably. Here, average prices decreased by 6% compared to 2023.
Why did prices start to fall?
Analysts cite the outflow of Ukrainian refugees as one of the reasons for the decrease in prices, as a result of which some apartments became vacant.
“Also, interest in buying one’s own home has increased among Poles due to higher-than-inflation income growth and increased creditworthiness after the interest rate on loans was reduced last year. In addition, the number of offers on the housing rental market has increased,” – explains reports from the Otodom portal.
