The Polish real estate market is facing an unprecedented phenomenon of a sharp reduction in available properties. In February 2026, demand significantly exceeded new supply for the first time in a long while, leading to a nearly 58% drop in developer offerings. Analysts warn that the current sales pace is three times higher than the number of apartments being introduced to the market by investors, which could herald further price increases.
Drastic Supply Drop
The overall number of available apartments in developer offerings shrank by a record 58 percent year-on-year.
Demand Outstrips Supply
The pace of property sales is currently three times higher than the number of new investments being introduced to the market.
Developers Halt Investments
A noticeable slowdown in new projects results from high financing costs and administrative barriers.
The situation on the Polish primary real estate market underwent a drastic change in February 2026, which experts describe as a breakthrough reduction in supply. The latest data indicates a drastic disappearance of available residential units, resulting from a combination of high demand from buyers and the increasing restraint of development firms. Developers have significantly limited the launch of new construction projects, which, combined with the dynamic activity of buyers, led to a 58% year-on-year drop in overall supply. Currently, for every new residential unit introduced to the market, there are as many as three sales transactions, creating a dangerous market gap. The causes of this phenomenon should be sought in several macroeconomic and administrative factors. Investors are grappling with rising investment financing costs and prolonged procedures for obtaining building permits. After the 2008 financial crisis, the Polish construction sector underwent a process of professionalization, but the current supply-side barriers resemble periods of the greatest market imbalances from the last two decades. On the demand side, there is still strong pressure from people seeking to protect their capital from inflation and those counting on preferential credit support instruments. The supply of apartments cannot keep up with the market's appetite, forcing buyers to make quick purchase decisions from a shrinking selection. Future prospects indicate a risk of the upward trend in price per square meter persisting. A lack of stabilization in the demand-supply relationship typically leads to a market bidding war, where young buyers lose out the most. Analysts emphasize that without systemic changes in the process of unlocking building plots, the situation could worsen further. The primary market has now become a battleground for limited resources, which is particularly visible in the country's largest agglomerations, where supply is shrinking the fastest. Experts predict that if developers do not accelerate work on new phases of housing estates, Polish cities may face a permanent housing shortage. Sales to New Supply Ratio: Sales: 3, New supply: 158% — was the drop in developer supplyChange in Market Parameters in February 2026: Market Supply: Stable Level → 58% drop; Sales Ratio: Balanced → 3 transactions per 1 new apartment