The Polish cities of Krakow and Warsaw have emerged as global leaders in the growth of real estate prices, surpassing even Dubai.
According to the eXp Realty ranking, housing prices in Krakow rose by a record 25% over the past year, securing the city the top spot. Warsaw, with a 14.2% increase, ranked fourth. For comparison, prices in Dubai grew by 19.4%, while in Madrid the increase was 18.9%.
This sharp rise in prices is attributed to a combination of factors: a structural housing shortage, high demand for rental housing driven by internal migration and refugees, and overall economic growth in the region.
Experts highlight that the lack of new residential projects in Poland has become a key driver of rising housing costs. Many developers have scaled back construction due to higher prices for building materials and financing challenges.
Additionally, Poland remains a popular destination for refugees, particularly from Ukraine. The influx of new residents has increased demand in both the rental and property markets, further driving up prices.
Macroeconomic factors also play an important role, including rising wages in Poland, low unemployment, and a relatively stable economy. These conditions enable many Polish citizens to invest in real estate as a reliable way to preserve their capital.
