Warsaw Home Prices Post Steepest Quarterly Jump in Over a Year

Residential real estate in Warsaw recorded a sharp 4.8% rise in average asking prices during the second quarter of 2026, compared with the same period last year, according to fresh figures from portal Otodom and brokerage Home Broker. The surge is the strongest annualised quarterly increase since spring 2022, putting further strain on buyers in Poland’s already stretched capital market.

The pace of growth comes as both seasoned investors and ordinary families are feeling the impact of geopolitical tensions and inflation. Ongoing security threats to Poland’s east, plus persistent cost-of-living squeezes, have led more Varsovians to view bricks and mortar as safer than stock or even currency holdings. Agents from RE/MAX Poland say viewing appointments in June jumped by a quarter in several city districts, with fear of further rate hikes fueling demand for fixed-rate home loans.

Śródmieście and Mokotów Prices Lead the Pack

Among central districts, Śródmieście posted the most dramatic price gains. Data provided by the Warsaw Association of Realtors (WSPON) showed the median listing price here reached 19,300 zł per square metre in June—up 7.1% year-on-year. Mokotów, always a favourite for both families and expats, was close behind at 15,700 zł per square metre, a 5.5% annual jump. Even traditionally quiet pockets like Wawer and Ursus saw smaller but noticeable upticks, with several new developments from Dom Development and Echo Investment reporting record reservation lists.

“Apartments on Marszałkowska or near Plac Zbawiciela didn’t stay on the market for long this spring,” said a senior analyst at Metrohouse, referencing listings that averaged under 30 days before closing. Secondary market units around Wilanowska metro—a leafy corridor popular with international schools—saw particularly brisk activity from buyers relocating from eastern Poland and Ukraine.

Data Shows Highest Annual Gains Since 2022

Figures aggregated by PKO BP Bank put the city’s average urban apartment asking price at 14,400 zł/m² at the end of June, a record for Warsaw. This follows a steady quarterly rise since last winter, when the average hovered closer to 13,480 zł/m². Rising construction costs and increased migration into the city explain much of the pressure. Developers have filed for over 2,000 new building permits in Q2 alone, according to Urząd Miasta Warszawy, but experts warn that supply is still not catching up with demand, especially for mid-size family flats near metro lines.

Transaction data also indicates investors are slowly returning after a lull in late 2025, reassured by the National Bank of Poland’s hold on key interest rates. Polish fintech LiveEstate reports a 21% quarter-over-quarter increase in investment purchases, most notably in Praga-Północ and Ochota, districts historically prized for capital appreciation.

For prospective buyers, analysts recommend rigorous mortgage stress testing and early application for Doradca Kredytowy (mortgage advisor) support, as most lenders, including mBank, flagged stricter lending criteria for the remainder of 2026. Higher prices could cool the market slightly through autumn if rates edge higher. However, with regional stability still in question, residential property in Warsaw appears set to retain its status as a safe port in choppy economic waters.