The analysis was created, based on real estate ads, published at the beginning of 2016. Only aftermarket flats were analysed (no houses/twin houses).
I believe, the report is valuable and helps to understand local real estate market better.
Table of contents:
- Poznan - general analysis
- Analysis: living area (size)
- Analysis: how old is a building
- Analisys: prices
- Analisys: prices / square meter
- Corelation: square meter price & living area/number of rooms
- Corelation: square meter price & how old is a building
- Corelation: square meter price & building type
- Analysis: prices and characteristics of districts in Poznań
- Prices per district
Poznań - general analysis:
Total number of ads analysed: 3,500
Average sell price: 311 215 PLN (74 098 EUR)
range: min price: 75 700 PLN (18 023 EUR)
max price: 1 850 000 PLN (440 476 EUR)
range: min price: 75 700 PLN (18 023 EUR)
max price: 1 850 000 PLN (440 476 EUR)
Average price of 1 square meter: 5 687 PLN (1 354 EUR)
Analysis: living area (flats size):
As we can see on the charts below, 2 and 3 rooms flats are the most popular (77% of all sell offers).
Single room flats = 12% of the market, and big flats (4 and more rooms) are the other 11%.
Single room flats = 12% of the market, and big flats (4 and more rooms) are the other 11%.
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| Left chart: number of ads depending on number of rooms (1-6 rooms) Right chart: % distribution |
If we compare living area of flats (square meters), we could see, the size with max number of sell offers is 38 square meters (exactly 340 ads). But the flats in range of 47-52 square meters, are definitely the most popular in Poznań. The following chart shows the distribution of flat sizes:
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| Chart: Number of ads distribution / flat square meters |
Analysis: how old are the buildings
The chart below shows the correlation between number of sell ads, and the building age.
As we can see, the top number of ads are for the 1970-1980 flats (majority of blocks of flats in Poznań, and bigger districts - Winogrady, Piątkowo, Rataje), and new buildings (2000+)
As we can see, the top number of ads are for the 1970-1980 flats (majority of blocks of flats in Poznań, and bigger districts - Winogrady, Piątkowo, Rataje), and new buildings (2000+)
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| Num of ads / date of build |
Analysis of prices of flats in Poznań
The distribution of prices in Poznań, could be found on the chart below. As we can see, the most popular flats have price between 200-300k PLN (ie. 47 000 - 71 000 EUR). Within such range, it is 68% of all ads. Cheaper ads it is only 10%, while more epensive - around 17%.
In Poznań, 500 000 PLN (120 000 EUR) is the boundary of "exclusive". Only 5% of all ads are there.
In Poznań, 500 000 PLN (120 000 EUR) is the boundary of "exclusive". Only 5% of all ads are there.
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| Distribution of prices / num of ads |
Average price of m2
Here we can see the chart showing - how many ads there is with given price PLN/m2 in Poznań:
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| Price PLM / m2 of flats |
As we can see, dominant are the prices within range 4500-6500 PLN/m2 (ie. 1 070- 1 547 EUR).
But, additional analysis, could bring us very interesting conclusions.
But, additional analysis, could bring us very interesting conclusions.
Correlation of the flat price (price of m2) and flat area/num of rooms
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| Price PLN/m2 of flats in Poznań / num of rooms |
So the trend is as expected. The lower the flat, the higher the price of m2 is.
For single room flats in Poznań, it is expected to pay 6000 PLN (1 428 EUR) and more.
2 rooms flats are chaper, and 3 rooms flats are even more cheaper (price of m2 of course).
For bigger flats (5 and more rooms) there is quite... unexpected (?) growht?
I believe, even there is not so much offers like these, what can introduce distortion in the average (one very expensive flat, could change the whole average). Or - for such flats it is possible, that they are big, luxurious, and it could justify the higher price.
For single room flats in Poznań, it is expected to pay 6000 PLN (1 428 EUR) and more.
2 rooms flats are chaper, and 3 rooms flats are even more cheaper (price of m2 of course).
For bigger flats (5 and more rooms) there is quite... unexpected (?) growht?
I believe, even there is not so much offers like these, what can introduce distortion in the average (one very expensive flat, could change the whole average). Or - for such flats it is possible, that they are big, luxurious, and it could justify the higher price.
Correlation of price of m2 and the age of a building:
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| Price PLN/m2 (1 EUR=4,2 PLN) and age of the building |
So, nothing could surprise us here. As we can see - the dependency is nearly linear. The trend is quite stable, and tells: "the older the building is, the cheaper".
For the oldest buildings (1850-1950) - I believe, they are mostly old, ruined tenement houses, that are cheap. Most often, they could be in a center of the city (so should be expensive), but as the chart shows, average is low, so the majority are cheap, ruined ads.
1950-1990 - are mosty blocks of flats. So the standard and locations are quite similar, and so prices.
Significant change could be seen after year 2000. The fact, that such buildings are most often quite away from the center of the city, it seems, people prefer, to have newer building, with better standard, probably often with lift, etc.
For the oldest buildings (1850-1950) - I believe, they are mostly old, ruined tenement houses, that are cheap. Most often, they could be in a center of the city (so should be expensive), but as the chart shows, average is low, so the majority are cheap, ruined ads.
1950-1990 - are mosty blocks of flats. So the standard and locations are quite similar, and so prices.
Significant change could be seen after year 2000. The fact, that such buildings are most often quite away from the center of the city, it seems, people prefer, to have newer building, with better standard, probably often with lift, etc.
Correlation of price of m2, with the type of the building
Blok = Block of flats (up to 4 floors)
Apartamentowiec = Apartament house, mostly built after 2000
Wieżowiec = block of flats, with 8-16 floors
Kamienica = tenement house, mostly built 1900-1950
1 EUR = 4,2 PLN
Blok = Block of flats (up to 4 floors)
Apartamentowiec = Apartament house, mostly built after 2000
Wieżowiec = block of flats, with 8-16 floors
Kamienica = tenement house, mostly built 1900-1950
1 EUR = 4,2 PLN
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| Price PLN/m2 depending on type of building |
Price of m2 depending of districts.
I think, it can be the most interesting part of the whole analysis of prices. Here we can observe - what is the correlation of flat price, depending of district.
Analysis of districts:
The map below, shows schematic view of the city of Poznań and its districts.
And the chart below, shows distribution of ads (number of ads) in each district. As we can see, the top positions belong to residentials of blocks of flats - Rataje, Winogrady, Piątkowo.
Grunwald is also on the top. Probably, because of its size.
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| Number of ads per district. |
Prices per districts of Poznań:
Very interesting chart - how the price in PLN (avg of 1 square meter,) depends on district.
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| Price of m2 (in PLN, 1 EUR = 4,22 PLN), by district |
My comments here on each district (cheapest on top):
- Łazarz, Dębiec, Górczyn, Wilda – "old" districts, mostly with tonement houses (50+ years old).
Some of the districts are historical labour/post industrial areas, what was connected with not the best opinion, and less safety. Moreover, they are not exactly at the center of the city, what makes prices lower.
Some of the districts are historical labour/post industrial areas, what was connected with not the best opinion, and less safety. Moreover, they are not exactly at the center of the city, what makes prices lower.
- Jeżyce – as we can see, the prices are quite low so far, but this district is rising star (during recent 2-3 years). Jeżyce becoming quite popular recently, there are hundreds of new restaurants there, and renovated buildings. Also the location is very attractive - it is practically the center of the city. It is expeced, the prices will grow here.
- Rataje, Winogrady, Grunwald, Piątkowo – typical blocks of flats districts, built mostly in 1970-80s (except Grunwald, that is older). Quite well connecting with the center, quite affordable prices. The prices should be stable here. No reason for grows or go down. Maybe the very north of Piątkowo (district of Umultowo/Morasko) – could become more important, due to the expansion of university campus Morasko.
- Winiary/Podolany – should be cheaper, as it is quite far from the center of Poznań, and without good public transport connection. On the other hand - those districts are relatively new (built around/after 1990), partly - with villa houses - what can justify higher prices.
- Naramowice – new, massive residential area, built around/after 2000. On one hand - higher standard than typical 1970 flats. On the other hand - this area is horribly communicated (traffic jams, no tram).
- Stare miasto – the heart of the city. The center is the only one and always will be. So the prices are high. Sellers are aware it, that location is everything, so no chance, for lower prices. Especially Chwaliszewo/Czartoria - one part of the Stare miasto, near the Warta river, is a hot address now. Also, renovated tenement houses, near the old market (Stary Rynek) are very expensive - like 8000 PLN/m2 (1900 EUR/m2) or more. Lower prices could be found near Rybaki or Półwiejska street, but majority of tenement houses there are very old and ruined.
- Sołacz - it is one of the most prestigious address on the map of Poznań. The old elegant villa houses, near the Park Sołacki are the places for architects, doctors, or presidents of commercial companies. Thinking this way, first place on the list of most expensive districts, shouldn't be surprise. On the other hand, on the Sołacz, there is also plenty of normal blocks of flats, that let's say, are not attractive at all (built, around 1960-70, and quite untidy - like Urbanowska, Nad Potokiem, Turkusowa street). Of course, there is University near there, but still, it does not justify the average prices. My hyphothesis here is - on the Urbanowska street, there is just a couple (like 5-6) brand new and very attractive "city villas" with extremely high price, that make the average high.
Feel free to contact me, or leave a comment.
Best regards,
Andrzej Telicki
