Started Constructions
In April developers initiated construction of 15,118 new residential units, marking the best monthly result since October 2024. Compared to April last year, the number of newly built units increased by 22.4%.
However, it is still far too early to announce a larger trend shift based on this. The good result should be seen more as a rebound after the poor first two months of the year, which were certainly affected by adverse weather conditions this winter – comments Patryk Kozierkiewicz, legal counsel at the Polish Developers Association.
It is worth noting that, compared to the first four months of the previous year, the pace of new developments in the sector fell by 4.9%, which, given the high levels of available housing, should be viewed positively.
– This means developers are not significantly slowing down due to fears of a low sales pace of the existing inventory and are choosing to gradually introduce new units to the market – adds the PZFD legal counsel.
It is not yet clear whether this state will persist throughout the year. It will depend, among other things, on demand sentiment, which may fluctuate depending on geopolitical actions and their impact on the economy.
Building Permits
In terms of building permits in the developer sector, April shows almost identical month‑to‑month results. Developers received approval for 18,372 units, just 0.5% less than the previous month. Thanks to positive results in March and April, the number of permits year‑over‑year rose by 22.5% compared to the first four months of 2025. –
This indicates that developers are continuing to prepare for new investments in the near future, although it is difficult to estimate whether the strong momentum from March and April will be maintained in the remaining months – says Patryk Kozierkiewicz.
Positive sales data and a growing number of reservations could support such a narrative. However, Otodom Analytics experts assess that the demand increase may have been one‑off and triggered by fears of a worsening macroeconomic situation, e.g., due to a prolonged conflict in Iran.
Occupancy Permits
Data on occupancy permits remain the most stable. The number of apartments handed over for occupancy from January to April fell year‑over‑year by 4.4% in the developer sector.
– Given the average construction time for multi‑family buildings and the increased pace of new builds in 2024, this figure should, in our view, continue to rise steadily each month of the current year, closing the current multi‑percent gap – summarizes the PZFD expert.
