- On advertising portals, ads for the sale of real real gems in the shell are multiplying
- One of the reasons for the wave of offers for unfinished houses may be the current market situation: inflation, rising prices of building materials, more expensive loans. Actual construction costs often differ radically from the initially assumed cost estimates
- The situation surrounding COVID-19 has also changed. Many Poles had to work in the office again, living in a house outside the city is no longer as attractive as it seemed in the first months of the pandemic
- You can find more such information on the Onet homepage
Spacious 200 m² house in the vicinity of one of the popular seaside resorts. The photo shows a beautiful villa with a large terrace, swimming pool and solar panels on the roof… It’s just a visualization. The following pictures show a real house for sale † unprocessed condition, without windows, doors, fences, but with roofing.
There are more and more such offers on the Polish market. Why do people sell unfinished houses, often perfectly designed, in great locations and with an idea for a finish, clearly planned “for themselves”? There could be many reasons – ranging from changing life plans to a deteriorating financial situation – to the withdrawal of investments due to the construction market situation. Galloping increases in material prices, difficulties in finding contractors for the next construction phases, more expensive loans do not encourage you to spend time, money and energy building your dream home.
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“Pearls” in raw state
Among more than 3 thousand of unfinished houses currently displayed on one of the advertising portals we can find, among other things, a residence near Warsaw, covering an area of more than 1,000. m², in a closed case, worth almost 12 million PLN, in which no one has ever lived. According to the advertiser, the house was designed with great flair by prominent architects.
Another “gem” in the open shell is a state-of-the-art house in Warsaw, more than 50% glazed, with a view of the park, a three-car garage and a planned 90-meter terrace on the roof. Such pleasure can cost the buyer more than 4.5 million PLN.
100 m from the beach, more than 350 m² of space, unfinished building open, but the house was built at the end of the last century. This Tri-City property was built on the model of Art Nouveau buildings from the 1930s. While the increase in these types of offers is not spectacular, there are clearly more and more. Tomasz Narkun, real estate market analyst, draws attention to this on Twitter.
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More offers from private individuals
There have always been such offers in the real estate market, but their number and structure began to change. In the first quarter of 2022, 2.1 thousand people were active on the OtoDom portal. offers of single-family homes with the status hull closed/open, not in the offer of the developers. It’s about 12 percent. well over a quarter earlier, admittedly on the other hand – the same as in the first quarter of 2021.
† However, if we pay attention to who runs these types of ads, the image looks a little different † Karolina Klimaszewska, an OtoDom expert, told Business Insider. † Two-thirds of the offers in 2022 were published by brokers and a third by private users. Here we see a clear change. The last time there were so many advertisements of the latter active in mid-2019.
† Although the number of such ads is generally not high † represents 5.7 percent. all newly added housing offers for sale among private users in the first quarter of 2022. † however, this is numerically the highest number of new unfinished ads in three years † adds the expert.
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Building a house is getting more and more expensive. “People don’t know what to do”
Poland’s building enthusiasm is clearly cooling. According to data from the Central Statistical Office of Poland, 6.5 thousand. building permits. It’s almost 21 percent. less than a year earlier. There are also fewer investments going on, in January 2022 Poland started construction of 4.3 thousand m². houses – by 8.2 percent less than a year earlier. Building a house in Poland is more expensive than ever. The prices of building materials have been rising since last year. Interest has also been raised several times since the autumn, resulting in more expensive loans and longer installments.
Also see: Even 70 percent. upwards. Building materials are so much more expensive
The data from PSB Handel Group shows that in February 2022, the prices of building materials in general increased by 27%. compared to last year. The prices of insulation materials rose the most – as much as 72 percent. and OSB boards – 0 54 percent. By contrast, walls, chimneys, roofs and gutters were 27% more expensive in January 2022. than in the same period last year – according to the analysis of experts from PSB Group.
† I meet people who have a dilemma what to do now† Because they took PLN 250-300 thousand from a loan to build a house and it turns out that they are missing another 200 thousand. What now? Many people today are faced with such decisions † Andrzej Czupak, owner of a construction company, said in an interview with money.pl. † Let’s assume that the house needs to be insulated, installations need to be replaced. It is known how much the OSB board has become more expensive, the price of copper, so electrical cables, is twice as high as it was six months ago. Lots of little changes are piling up here — he adds.
“The return to offices has begun”
According to Karolina Klimaszewska, there is no clear answer to the question of where the offers for unfinished houses come from. Certainly inflation, a rise in interest rates and rising material prices are one of the reasons. But not only that.
† For example, the advertisements contain offers for the sale of houses built with one’s own family in mind, with a well-considered arrangement of rooms, usually located in a suburb, well connected, but at the same time attractively located, for example near a forest or with a beautiful view. Decisions to sell this type of property are often made because life plans have changed. Many people decided to move during the pandemic in search of a larger apartment for the family, and when working remotely, the location with good access to work was less important. However, it has become more important to have a private garden and closeness to nature. That’s when the return to the offices began, and companies often demand 100 percent. presence of employees in the office without the possibility to work remotely. This could be the reason for the decision to sell your house outside the city † emphasizes the OtoDom expert.