Up or Down?
According to the analysts of the System for Analysing and Monitoring Real Estate Market (AMRON), flats in the largest cities are no longer becoming less expensive while next year prices will probably be on the increase. AMRON is an institution created by banks with the purpose of collecting data on, amongst others, prices on the real estate market. 90% of the data originates from notarial deeds both on the primary and secondary markets. On Friday, November 27, the Association of Polish Banks (ZBP) issued a report on their findings for the first time. Those who expect the prices of flats and houses to continue falling for at least another year will find the report disappointing as according to AMRON the trend has come to a halt. In the third quarter of 2009, the average price in Warsaw was PLN 7,853 per square metre, nearly 10% lower than during the peak period of the real estate boom (early 2007). During the past 6 months though, the average has only fallen by an additional 1%. The situation is similar in other major cities.
Gazeta Wyborcza
