The apartments will not stop. Land is missing
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By about 5 percent. new apartments may become more expensive within a year. Price stabilization would be possible if supply caught up with demand. And this is not likely, because there is a lack of land, there are no local plans, and administrative procedures are lengthening – we read in Tuesday’s “Rzeczpospolita”.
“The seven deadly sins that hinder the development of housing have been identified by the Polish Association of Developers (PZFD). These are: impracticable law and bureaucratic discretion, long permitting times, officials’ fear of making decisions, lack of land and development plans, rising investment costs, protracted arrangements for connecting roads and media, and finally – blocking construction sites by neighbors. All this means that fewer flats are built than could be built, writes Rzeczpospolita.
The newspaper indicates that, according to the authors of the PZFD report, the number of flats built in recent years has been growing successively – from over 50,000 to in 2013 to over 140,000 last year “The economic crisis, the collapse of the mortgage market, the instability of the law and bureaucracy have caused the number of new investments to drop dramatically,” alarms PZFD quoted in Rzeczpospolita.
“It states, referring to the Central Statistical Office (GUS) data, that in 2021 developers started construction of 166,000 sqm. flats, in 2022 – 115,000 In January this year construction of 5.8 thous. premises – more than 20 percent. less than in January last year.” – we read.
“Rzeczpospolita” notes that the forecasts are not optimistic. “In the whole of 2023, developers will start construction of approx. 70-80 thousand sqm. flats. For comparison – last year commissioned 144 thousand. flats and houses – it is 60 percent. all built at that time. Individual investors built 91 thousand. flats and houses. One of the major problems of the industry is the lack of land for housing estates. Plots that are available for sale are not always located where Poles would like to live,” he writes.
moss/dki/
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