Evolution of the real estate market in Poland (2013–2023)

The paper addresses the issue of the situation in the Polish housing market. The housing market plays a key role in the economy of any country, affecting not only the daily lives of millions of people, the demographic situation, and the urban landscape of the country, but furthermore significantly influences the functioning of the financial sector, construction, related sectors, and the overall macroeconomic situation (through investment). Poland is no exception and in the last decade it has had the opportunity to experience significant changes in its housing market. This period was characterized by dynamic development that affected the structure, operation, and availability of housing throughout the country. The main purpose of this paper is to analyze the changes in the housing market in Poland over the past decade. The paper analyzes the most important factors and trends that have affected this market and defines its dynamics during the analyzed period. In particular, the topic of real estate price growth, construction activity, and credit policy was addressed. The paper uses the method of analyzing found data and a literature review, and uses statistical data, scientific studies, and reports on the housing market in Poland in the last decade, with most of the time series used covering the period 2013-2020. In the section on financing the purchase of a home, a proprietary mortgage simulation was also carried out. The work consists of three parts. The first refers to the current situation in the housing market and discusses the issue of the size and quality of the housing stock. The second part shows how housing prices have changed over the past decade and attempts to answer the question of whether there is a speculative bubble phenomenon in the Polish real estate market. The third chapter presents the advantages and disadvantages of various ways of financing the purchase of an apartment and presents a mortgage simulation.