Record number of dwellings under construction in Poland

2012-01-12



Over 700,000 housing units were under construction in Poland in 2011, which is the record level in the recent years, Piotr Styczen, Under-Secretary of State in the Ministry of Transport, Construction and Maritime Economy, has announced.
The ministry statistics indicate that 650,000-670,000 housing units were constructed annually in the recent years. In the ministry’s opinion, the high number of flats under construction can be explained by an increasing number of new building projects, and also by the omission to include in the statistics the final phase of the building projects, especially in the case of single-family houses.
According to the Deputy Minister Styczen, the expectations in the housing sector the previous year were much worse that the actual market situation. However, crisis tendencies started in 2010 were averted due to improvement in the overall economic situation, and last year did not differ much from the preceding one in terms of the value and number of home completions. In Piotr Styczen’s opinion, the current year may mirror many developments noted in 2011, including in terms of demand and number of house completions. In spite of restricted access to lending, demand for housing units in 2012 may not fall that much due to the expected continuing fall in flat prices.