The Hit of the year 2004 was; for the primary as well as for the secondary market;2- or 3-bedroom apartment of the utility area of approximately 40–60 m², having good location (such as the city centre or the green areas close to the centre, with a convenient access to the public transport. The apartment should be situated in a newly build or 5-6 years old building, on the first to the fourth floor (which means in a middle-size building), having the register book, garage or a safe parking space and a small balcony. Its price should not be higher than average prices for a given city.
However, the supply of such ideal apartments is limited, especially those newly build. The limited access or no access at all to the residential building space in the centres or other best city locations may be a god reason for this. Concluding, 2004 was a year of a best sale for the apartments with the parameters close to that perfection. The apartments from the secondary market dominated in city centres, and the primary market developed in the areas outside the centre and in the suburbs and in case of Warsaw also in satellite cities, where often the lower prices could be offered.

The “runner-up” in Wrocław appeared to be the secondary market studios localised in the city centre or close to the University. Because of the relatively high price of those 1-bedroom apartments, the clients were more interested in second-hand apartments, to be renovated, where the lower price could be negotiated. In case of a small local the costs of modernisation are not high, and could be easily retrieved by renting. According to the WGN data, 65% of apartments that have been bought are now being put for rent.

(December 2004)

Małgorzata Battek
The Market Analysis Department WGN
Tel/fax 071/ 344 27 22