A total of 16,700 apartments are currently on sale. Despite an average price increase of 4.8 pct year-on-year, buyer interest is strong. According to CBRE, the beginning of 2026 will bring strong sales results.
The Monetary Policy Council’s interest rate decisions will continue to be crucial to the market over the coming months. From May to December 2025, interest rate reductions totalled 1.75 percentage points. According to market analysts, further reductions in the reference rate are possible in 2026, although the total correction may be smaller than in 2025. Further improvements in financing conditions would boost demand, especially since the current large supply of apartments makes it easier to find suitable properties. The beginning of 2026 will bring strong sales results, but only the coming quarters will reveal whether this recovery in demand is sustainable. We will also learn whether any further interest rate cuts will translate into more attractive mortgage rates for buyers.
Agnieszka Mikulska, a housing market expert at CBRE
In the fourth quarter of 2025, developers launched sales of over 4,000 apartments in Warsaw, an 8.5 pct increase compared to the previous quarter. According to the latest data from CBRE and Tabelaofert.pl, the percentage of completed units in the entire offer is a record-breaking 19.6 pct with 16,700 apartments currently on the market.
The end of 2025 in the Warsaw housing market brought increased buyer interest and a high number of reservations. In total, over 3,700 apartments were sold in the fourth quarter. These are the second-highest sales over the past seven quarters.
Prices continue to rise. The average asking price for a new apartment still on sale in Warsaw at the end of 2025 was PLN 18,681 per sqm. This represents a 4.8 pct year-on-year increase, while inflation stood at 2.4 pct in December 2025. Meanwhile, the average price for apartments was PLN 17,667 per sqm in the fourth quarter. This also represents a 2.1 pct year-on-year increase.
The Transparency of Developer Housing Prices Act, applicable to all development projects from September 2025, has not caused a dramatic change in market figures such as the number of apartments on sale or average prices. Nevertheless, it undoubtedly affects these indicators by changing the availability of data and developers’ marketing strategies.
Agnieszka Mikulska