After the drastic decline in the availability of flats for rent, related to, inter alia, with the arrival of refugees from Ukraine to Poland, the market rebounded from the bottom. For the first time in 3 months, the number of rental offers for residential premises increased.
Several factors contributed to the increase in rental apartment offers. Most of all, the demand has calmed down. The number of available offers has also increased – according to the data from the Otodom portal.
Otodom analysts also predict that at the end of the academic year, the number of offers will increase again, but it will not be as large as in previous years.
Is this the end of the apartments for rent crisis?
In May, 3100 jobs were added. new offers, an increase of 35 percent compared to April. At that time, the number of new offers amounted to 2300. This shows that the supply on the rental market is increasing. However, the number of new offers is still much lower than in the corresponding period in 2021, by almost 38 percent.
In May, the availability of rental offers increased in all large cities compared to April. The biggest jump – from 25 to almost 30 percent. – was visible in Kraków, Wrocław, Łódź and Rzeszów.
In Poznań and Warsaw, the availability of flats for rent increased by 18% compared to the previous month.
However, in annual terms, the number of offers of apartments for rent is lower than last year. The biggest difference was recorded in Łódź and Kraków, where in May it was over 70%. fewer offers than in the corresponding period a year ago.
In Warsaw, Wrocław and Rzeszów the number of offers is lower by about 60%, and in Gdańsk – over 53%. fewer ads.
The table below shows how the number of rental offers in the largest Polish cities has changed.
How much will we pay for the rental?
Average offer prices of flats for rent in May this year. – compared to April this year. – increased in almost all cities (from 1.1% in Wrocław to 7% in Gdańsk and 8.5% in Rzeszów). The exception is Warsaw, where this rate is -5.8%, but this difference is due to the fact that the characteristics of the available offers have changed.
The number of large and more expensive apartments above 80 square metres is decreasing, and they are replaced by small and medium-sized apartments, which are cheaper.
The table below shows the average offer prices of flats for rent in the largest Polish cities.
Is an investment in an apartment for rent still profitable?
Investments in housing for rent still remain profitable, although with rising costs of loans their profitability decreases.
The profitability of such an investment increased the most in Warsaw, Kraków and Wrocław. However, the current situation, i.e. rising interest rates and shrinking creditworthiness, also has the other side of the coin. These factors may mean that people who have been looking for flats for sale so far will be forced to look for a flat to rent.