For cash, without a mortgage — Ukrainian real estate agencies are taking over the Polish market

Real estate market in Poland is being seized by Ukrainian agencies, Polish experts are sounding the alarm.

In 2024, Ukrainians concluded a record number of transactions for the purchase of premises — a total of 17,330 apartments and other premises with an area of more than 1 million square meters. m. A year earlier, it was about more than 14 thousand transactions. Polish real estate agencies are alarmed by the fact that "Ukrainian agencies are taking over the market," which are the most numerous among agencies from abroad, reports Rzeczpospolita.

"Given the fact that sales have declined in 2024, the share of foreigners as buyers may have increased to more than 10%," said analyst Eva Palus.

According to the Ministry of Internal Affairs and the Administration of Poland, Warsaw remains the undisputed leader among the locations chosen for the purchase of real estate by Ukrainians. Last year, 3,535 apartments were bought in Warsaw, 1,523 in Krakow, and 1,491 in Wroclaw.

In addition to Ukrainian investors, housing in Poland is bought by Russians, Belarusians, Indians, British and Vietnamese, but this percentage is significantly less than that of Ukrainians. Despite the fact that Ukrainians most often buy apartments for cash, excluding mortgages.

"Foreigners most often buy apartments for investment in new residential complexes. They want to make money from this, because Poland is a developing and future—oriented market. Moreover, the military emigration from Ukraine, which came to Poland after February 24, 2022, is basically the middle class with a good financial status," explained Patrick Pieta, a representative of the Hamilton May real estate agency in Warsaw.