Poland’s flat prices to increase more by year-end: expert
Source：wnp.pl
From：Taiwan Trade Center, Warsaw
Update Time：2023/06/06
Apartment prices are expected to increase by 14-17 percent by the end of the year due to the rising construction cost and inflation, according to Polish residential developer Lokum Deweloper.
In the first quarter of 2023, the company's revenue reached PLN 57.7 million (about EUR 12.8 million), it also generated PLN 9.1 million in net profit attributable to the shareholders of the parent company.
The financial data shows that the revenue of Lokum Deweloper amounted to PLN 57.7 million, which means an increase of 45 percent compared to the previous year. A year ago, Lokum Deweloper had a net loss of PLN 6.7 million, which means a margin of 15.8 percent.
The developer is ready to introduce new projects for sale as they are optimistic about the improving financial situation of their clients, said Bartosz Kuźniar, president of Lokum Deweloper.
This could mean accepting lower margins due to significantly higher implementation costs, he added.
"In ready-made investments, based on historically low costs, we apply adequately low selling prices, giving our clients the opportunity to meet their housing needs. However, this resource will soon run out," Kuźniar said.
In the first quarter of 2023, the developer sold 106 units, which is 68 percent more than in the previous year. more than last year. Development and preliminary agreements covered 156 apartments, which means an increase of 114%. compared to the same period a year ago. At the end of March 2023, Lokum Deweloper had 72 reservation agreements concluded, which is 41% more than a year ago. The company had 591 units on offer, of which 46 per cent. these are ready-to-go apartments. At the end of March, Lokum Deweloper was building 696 units.
Based in Wrocław, Lokum Deweloper also operates on the Kraków market. Since 2015, the company has been listed on the main market of the Warsaw Stock Exchange.
Source: https://www.wnp.pl/budownictwo/gieldowy-deweloper-z-zyskiem-spodziewa-sie-mocnego-wzrostu-cen-mieszkan,710619.html?utm_source=newsletter&utm_medium=email&utm_campaign=wnp