Koniec złotej dekady mieszkań. Teraz zacznie się selekcja! | Rynek Nieruchomości

For the last decade, apartments in Poland seemed like a near-sure investment. Those who bought a property in Warsaw, Krakow, Wrocław, or the Tri-City area a few or a dozen years ago often look like a great investor today. But was it a brilliant decision, or simply a unique moment in the market? In this episode, I show why the golden decade of apartments may never be repeated. After the low point around 2013, the market received several powerful boosts: low interest rates, rising wages, migration to large cities, pandemic-induced near-zero interest rates, an inflationary fear of holding cash, and later, the 2% Safe Credit. Now, the situation is different. In Warsaw and some of the largest cities, since the turn of 2025 and 2026, attempts to raise prices in listings have been visible again. At the same time, there remains a stable group of offers that need to be re-priced. In smaller cities, such a upward trend is often absent. And that's the most important thing: the housing market is beginning to stratify. This isn't a film about all apartments getting cheaper. It's a film about the fact that the days are over when almost every apartment bought "as an investment" looked good after a few years simply because the overall market was rising. Now, location, demographics, the labor market, building condition, maintenance costs, rental demand, and real sales liquidity will become increasingly important. In this episode, I discuss, among other things: – when the golden age of apartments truly began, – how low interest rates drove prices, – what the pandemic has changed, – why the 2% Safe Loan was the last powerful stimulus, – why the market began to change after 2024, – why Warsaw and smaller cities are increasingly becoming completely different markets, – why demographics will become increasingly important, – and why the question "how much does a square meter cost?" is no longer sufficient. Data sources and context: National Bank of Poland, Central Statistical Office, Eurostat, Credit Agricole, developer reports, offer and market data. This isn't investment advice. It's an analysis of phenomena that could change the Polish housing market in the coming years. Subscribe to @Tomasz_Lebiedz if you're interested in the real estate market, apartment prices, mortgages, demographics, and what's really happening behind the sales ads. 👉 Become our Patron https://patronite.pl/tomasz_lebiedz and influence the program's content. 👉👉👉 Real Estate Broker Course 👉 https://symen24.pl/kurs/kurs-posredni... Tomasz Lebiedź: Real estate explained well - learn about the real estate market, apartment prices, house and plot trends, and real estate law. CHAPTERS: 00:00 The End of the Golden Era in the Housing Market? 00:23 Market History: From Lehman Brothers to 2024 01:20 What Drives Prices? Interest Rates and BK2% 02:24 The End of Safe Flipper Profits 03:05 Will Interest Rate Cuts in 2025/2026 Revive the Market? 04:14 Price Analysis: Who Raises and Who Lowers Expectations? 04:55 Warsaw Isn't All of Poland – Great Stratification 06:01 Terrible Demographics and the Declining Housing Market 07:19 Why "To ne wrati" (To ne wrati already)? The New Reality 08:24 Older Resources vs. New Construction in Large Cities 09:34 Where to Invest in Rentals and Where to Avoid? 10:15 Example of Small Towns: Mikołajki vs. Gołdap 12:18 How to invest now to make money? 13:00 Summary: Knowledge and analysis instead of blind luck #real estate #apartments #housingmarket #apartmentprices #Warsaw #mortgage #interestrates #NBP #demography #real estateinvesting