The latest preliminary transaction data from the Metrohouse and Credipass Barometer report indicates a continuation of the price stabilization trend, with increasingly visible regional differences. After a turbulent period of high interest rates, the beginning of 2026 brings a dose of optimism to the secondary housing market, driven by improved creditworthiness among Polish buyers.
Buyers Are Back on the Market
The first quarter of 2026 marks a period in which the market has clearly shaken off the stagnation caused by inflation. We are now seeing a real impact of interest rate cuts—clients who postponed decisions in 2025 are returning with concrete purchasing plans. The gap between the final asking price and the transaction price remains relatively narrow at around 3–5%, indicating better alignment between sellers’ expectations and market realities.
In terms of property financing, a key signal remains the stance of the Monetary Policy Council, which in April, in line with market expectations, kept interest rates unchanged. However, the market cost of money can rise faster than official rates. The market often “anticipates” decisions by the central bank, meaning that even without changes to official rates, the real cost of credit may still increase, as noted by Tomasz Przyrowski, CEO of Credipass.
The dynamic growth in mortgage sales—reported by the Credit Information Bureau (BIK), with an increase of over 50% year-on-year at the end of 2025 and continued positive data in the first quarter of this year—has translated into stronger demand at the start of 2026. A relatively stable labor market and real wage growth mean that even without new subsidy programs, organic demand is sufficient to maintain prices at current levels. However, the sector is hoping for even stronger activity, as weakening interest from individual investment buyers is becoming a limiting factor.
Regional Contrasts: Capital Cities Decline, Coastal Market Rises
The secondary market is increasingly shaped by regional disparities. In Poland’s two largest cities, average transaction prices have declined both quarter-on-quarter and year-on-year. In Warsaw, the average price per square meter reached PLN 15,397 (-4.5% q/q), while in Kraków it stood at PLN 13,383 (-3.9% q/q).
In contrast, Gdańsk recorded a significant increase, with average transaction prices rising by 5.1% to PLN 13,420 per square meter. According to Metrohouse experts, the Pomeranian market benefits from strong investment demand, particularly due to its attractiveness for short-term rentals. This sustains high demand for properties, unlike in other cities that do not share such location advantages.
Other cities also showed varied dynamics. Wrocław saw prices rise to PLN 12,311 per square meter (+2.9% q/q), while Łódź recorded an increase to PLN 7,747 (+3.3% q/q). The average value of purchased apartments ranged from approximately PLN 393,000 in Łódź to PLN 742,000 in Warsaw, with average unit sizes remaining below 50 square meters across all major markets.
A New Trend: Buyers Move Toward Suburban Areas
Rising prices in city centers are increasingly pushing buyers to look beyond central districts and into suburban areas. This trend may contribute to a nominal decline in average prices within cities, as the geographic structure of transactions shifts. As Marcin Jańczuk, a Metrohouse expert, points out, analyzing transaction distribution is now essential for understanding real market dynamics.
Many buyers are approaching property purchases more rationally, opting for larger and more functional living spaces at the cost of longer commuting times. Despite this shift, the average size of purchased apartments in all analyzed cities still does not exceed 50 square meters.
