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The Warsaw Voice » Real Estate » January 16, 2008
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Primary Markets Quieter in 2007: Report
January 16, 2008   
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Primary markets in most Polish agglomerations grew quieter last year compared to 2006, according to Polish consulting firm REAS. The prices of new apartments in Warsaw stabilized in the second quarter of 2007.

Demand in the capital is clearly not matched to supply: developers providing large and relatively expensive apartments in sub-central districts have problems getting them sold, whereas the range of cheaper units available in peripheral locations remains too narrow, says Kazimierz Kirejczyk, president of REAS, which specializes in advisory services for residential developers.

In 2008 to 2009, interest can be expected in low-end segment units. In cities with a population of between 100,000 and 500,000 "we are observing a certain revival," says Kirejczyk. These cities include Olsztyn, Bia³ystok, Bydgoszcz, Lublin, where apartment prices grew in 2007 by another 20 to 30 percent, as well as Katowice. These areas saw the highest price growth last year, according to Kirejczyk.
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