Polish house prices continue to fall, despite economic growth
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House price falls continued in major cities in Poland, despite better-than-expected economic growth. GDP expanded by 3.5% y-o-y to Q2 2010, above consensus predictions, with strong domestic demand driving growth.
In Warsaw, the average price of ‘exposed’ units (i.e. already on the market, as opposed to newly-launched) was 4% lower than last year, at PLN8,246 (€2,089) per sq. m., according to REAS. Other main cities experienced price falls, ranging from 1.1% for Poznan to 5.9% y-o-y for Wroclaw.
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