Data from Poland’s Central Statistical Office (GUS) reveals a significant drop in the number of completed apartments, with a 15.9% decrease in the first five months of

2024 compared to the same period last year.

This decline is partly attributed to the disruptions caused by the mortgage subsidy program.

Between January and May 2024, developers in Poland offered 78,700 ready-to-occupy apartments, according to GUS. However, there was an increase in residential units with building permits and those whose construction has commenced. Despite this, only 47,700 apartments were put into operation, marking a 6.4% decrease from 2023.

The supply from individual investors also saw a notable reduction, with just over 29,000 apartments completed, a 29.2% decrease from the previous year. Additionally, the usable floor area of new apartments fell by over 20%, totaling 7.2 million square meters.