The latest (Q4 2017) Residential Market in Poland report by REAS has revealed that property sales in the six largest Polish cities last year were 17% higher than in 2016. As a result, despite the amount of new build being delivered rising last year, the total number of properties listed for sale in those markets at the end of 2017 (48,200) was 8.5% lower than at the end of 2016 (52,700).

Average property prices across the six cities increased by 6.1% last year but there were large differences between cities. The Tri-City region, consisting of Gdańsk, Gdynia and Sopot, had the fastest rising property prices (14.7%), followed by Lodz (8.5%) and Warsaw (8.4%).

Wroclaw and Poznan both saw prices rise by 4.4% last year, while Krakow had the slowest rising property prices (2.4%).

REAS says that low interest rates, a good price-earnings ratio and attractive rental yields now make Polish property more attractive than ever before. However, the firm does warn that there could be a temporary dip in demand this year as the Polish Government is withdrawing its support programme for first time buyers (similar to Help-to-Buy in the UK).