Great opportunities for property companies and their customers

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At present 34 property companies are conducting about 60 residential investment projects in Szczecin and the vicinity. Many of those investments were advertised during the 26th Real Property and Furnishings Fair (Targi Nieruchomości i Wyposażenia) which took place on 3–4 October 2015 with 44 companies presenting their offer (apartments, houses, buildable and commercial plots of land).

 

The most significant increase of sales has occurred on the residential market.  Why? Among the most important causes are the good standing of the Polish economy, the overall improvement of the financial condition of apartment purchasers and the cost-effectiveness of buying an apartment for rent-related purposes. Additionally, the fact that the obligatory amount of the equity contribution by the borrower applying for a mortgage loan is expected to change also increases the general propensity to make a faster purchase.  The said equity contribution is to grow year on year - currently it amounts to 10% but by 2017 will have reached 20%. According to property companies the intensified market dynamics can also be attributed to the success of the programme:  “Mieszkanie dla Młodych”. Despite the rising supply and demand, the average price per square meter in the core and shell standard is stable and fluctuates at the level of PLN 4500 – 5000.

 

“The residential market is booming.   We have sold over 70% of the first stage of Central Park investment since the end of February - mainly two-room apartments covering the area of 32 – 46 square meters. One-room and small three-room flats are most popular of all  , and the price per one square meter starts form PLN 4450”, says Łukasz Wojciechowski, a marketing specialist at Modehpolmo II.

 

Dorota Kulig, a sales manager at Alsecco, is also happy about the upswing in the market: “We are in the process of completing the first stage of Nowa Cukrownia investment.  260 apartments located in four buildings will be put into service in autumn 2016. We have already sold 80% of them. Our prices are relatively attractive – PLN 3950 – 4550 per one square meter.

 

Budex – a new market entrant - also observes a high demand. “During one month and a half we sold 20% of apartments in one of the two buildings to be erected at ul. Kusocińskiego, even though the building will be placed into service as late as in December next year.  Both two-room apartments that are 30-meter large and suites with the area of 70-90 square meters sell well.  They cost PLN 4700 – 51000 per one square meter”, says Wiesław Kulpiński, the head of Budnex in Szczecin. Hence, the company is planning further investments at Kusocińskiego and Cukrowa streets.

 

Grzegorz Wyrwiński, a real property specialist at Amber – a company offering  buildable plots of land with development concepts at Małe Błonia residential district – is also glad that the company’s sales are on the rise.   “We observed a 30% increase in sales over the past four months. Plots covering the area of 800 – 1000 square meters are most popular. Our price per square meter equals PLN 380”, he says.

 

The 26th Real Property and Furnishings Fair focused not only on real property companies. It also served as a good opportunity to present related financial products as well as the offer of companies manufacturing furniture and fittings. Visitors had a chance to receive legal advice, MdM  consultations, guidance on real property investments and interior decoration.

 

The 27th Fair will be held on 12 – 13 March 2016. Marek Zajdel, the owner of Expo Arena expects even a better turnout than this year. “At least 90% of the companies participating in this year’s fair have confirmed their appearance, and as many have expressed their interest to take part in the event next year. We are planning to extend our preparations to accommodate them”, he adds.

 

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