Murapol real estate aims to introduce 1,000 flats for sale in Q4 2024

"We expect to introduce around 1,000 premises in the coming quarter, and we set the target for the whole year of these introductions at around 4,000," the CEO said.

He indicated that each of the company's sales fronts sells around 20 apartments per month.

"In September we sold 309 flats, in October which was slightly weaker - 265, but nevertheless reaching 300 units is absolutely a realistic goal and this is the goal we set for the coming months, not only this year, but also next year," Iskra pointed out.

"We will be launching further investments this year in completely new cities in the context of our returns, because in Katowice we sold out our offer more than two years ago and in December we are returning there in a very interesting location," he added.

Murapol's CEO mentioned that the company will also return to Katowice and Warsaw markets with its offer.

"On top of that, we expect two permits in Katowice in 2025. We are also returning to Warsaw, hopefully still at the end of this year with a project for more than 400 units in the Ursus district(...)," he added.

Moreover, CEO Iskra indicated that the company expects a better sales pace in the fourth quarter than in the third one.

"Looking at the results of the individual quarters we expect better sales (...), we aim to improve the pace from the third quarter," said.

In the longer run, the company sees good prospects for the housing market.

"In the longer term, we continue to emphasise the good prospects for the housing market due to the structural housing deficit in Poland, the increase in real wages, the level of savings deposits, greater purchasing power of consumers, low unemployment and also the reductions in interest rates expected by analysts in the perspective of probably the next year," said Murapol's board member Iwona Sroka.

"The situation for our industry in the three quarters of 2024 is challenging. In the third quarter, we saw a continuation of trends that were already evident in the second quarter. The market is clearly marked by cooling demand through high interest rates," she pointed out.

Sroka stressed that Poland has the most expensive mortgage loans among all the EU countries.

"We have the most expensive loans in the European Union - so this demand is dampened by the cost of credit. We expect this to improve, but with a view to a movement in interest rates," she pointed out.

mcb/ ao/ nl/