In Q1 2026, the average offer price per square meter on Warsaw’s primary housing market rose to PLN 18,055.84, while the secondary market average climbed to PLN 18,919.02. At the same time, the average transaction price on Warsaw’s secondary market fell 2.2% quarter on quarter, to PLN 16,393.20 — a widening gap between what sellers are asking and what buyers are actually paying.
Primary market
The average offer price per square meter on Warsaw’s primary market in Q1 2026 stood at PLN 18,055.84 — up 1.8% from Q4 2025 and up 6.5% year on year. By comparison, the average across the seven largest cities (Gdańsk, Gdynia, Kraków, Łódź, Poznań, Warsaw, Wrocław) was PLN 15,636.93, up 1.3% quarter on quarter and 2.6% year on year.
The average transaction price on Warsaw’s primary market, however, came in at PLN 16,475.18 — down 0.6% from the previous quarter and essentially flat year on year (+0.2%). The gap between offer and transaction prices in the capital now runs to roughly PLN 1,580 per square meter.
Secondary market and the hedonic index
On the secondary market, Warsaw’s average offer price in Q1 2026 was PLN 18,919.02 per square meter — up 0.1% quarter on quarter and 2.3% year on year. The average transaction price, however, fell to PLN 16,393.20, down 2.2% from Q4 2025 and 1.7% lower than a year earlier. The diverging paths of offer prices (rising) and transaction prices (falling) suggest buyers are negotiating larger discounts off asking prices.
The hedonic price index for Warsaw’s secondary market — which adjusts for quality differences in the sample of properties surveyed — rose 0.7% quarter on quarter and 2.2% year on year in Q1 2026. The harmonized index (Q3 2006 = 100) reached 307.4, meaning housing prices on the secondary market across the surveyed cities are now more than three times higher than in Q3 2006.
BaRN data covers offer and transaction prices for multi-family housing units sold within the administrative boundaries of 16 voivodeship capital cities plus Gdynia, where a significant share of market transactions takes place. Prices include VAT. The survey runs on a quarterly cycle: Q1 covers December–February, Q2 covers March–May, Q3 covers June–August, and Q4 covers September–November.
Warsaw compared with other cities
Warsaw remains Poland’s most expensive housing market on both the primary and secondary markets. Kraków holds a narrow lead over Gdańsk in second place, while the gap between the capital and cities such as Wrocław or Poznań remains wide — exceeding PLN 4,000–6,000 per square meter depending on the market segment.
| City | Primary market, offer (PLN/m²) | Secondary market, offer (PLN/m²) | Secondary market, transaction (PLN/m²) |
|---|---|---|---|
| Warsaw | 18,055.84 | 18,919.02 | 16,393.20 |
| Kraków | 16,859.05 | 16,566.48 | 15,110.04 |
| Gdańsk | 16,432.07 | 16,260.55 | 13,870.05 |
| Wrocław | 15,443.80 | 13,546.67 | 12,632.07 |
| Poznań | 13,778.05 | 12,378.17 | 10,676.57 |
| Łódź | 11,562.86 | 8,983.77 | 7,970.83 |
Data source: National Bank of Poland (NBP), BaRN residential property price database, Q1 2026 data. Own compilation based on NBP data.
