Polish housing market flourishing thanks to the European Union

Piotr Byrski, Director of Leach & Lang Property Consultants, was interviewed by Polish national daily newspaper “Dziennik Zachodni” about the changing face of the Polish residential market over the past decade.. In his opinion the development of our real estate market commenced when Poland joined the EU. The accession caused the inflow of foreign investors. The situation on the market started to improve: there was a significant growth in demand and supply and thus the prices increased. A lot of new development companies were established. Market reached its peak in 2007. Unfortunatelly the following crisis caused the crash. The housing market subsequently slumped for the following 6 years with much weaker volume of sales leading to falling prices.