September 28, 2021

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Availability of apartments for rent has improved, but is still very low

Availability of apartments for rent has improved, but is still very low

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In the last year, due to the COVID-19 pandemic (including the transition of universities to remote mode), the demand for apartments for rent decreased. As a result, rents fell, among others, in Krakow, Warsaw, and Wroclaw. But this year the rental market rebounded. This is evidenced by the data of the Central Bureau of Statistics on the price indices of consumer goods and services.

One of the factors affecting inflation is the landlord’s fee, i.e. rent. According to the Central Bureau of Statistics, it was 4.1 percent in July. higher than in the same period last year. On the other hand, the average monthly gross salary was 8.7 percent. higher. This means – at least statistically – that the availability of apartments for rent, that is, the ratio of rents to earnings, has improved to some extent.

Unfortunately, it is still very low. This was indicated by the British financial portal Money.co.uk, which analyzed three-room apartment rents and earnings in more than 50 countries around the world (information on this was provided by the statistical portal Numbeo).

According to the portal, Hong Kong is the most expensive city to rent a three-room apartment. The average rent here is 2,760 pounds, which is approximately 15,000 pounds. Zloty! The portal explains this sky-high price by the fact that 7.5 million of the population of this city-state has shrunk only 1.1 thousand. For comparison, Warsaw has an area of ​​517 square kilometres.

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Similarly, in Singapore, the average rent is £2,253. The land of new apartment buildings is literally worth its weight in gold here.

The third most expensive country in the world for renters is Switzerland, which is famous for its high property prices. The portal reports that the average monthly rent for a three-bedroom apartment is around £1,900, which is well over £10,000. zloty. Cheaper than in Switzerland incl. In Qatar and the United Arab Emirates (UAE), which were in the list of the top ten countries in terms of cost of renters in the world.

And Poland? It ranked 32nd with an average rent of 674 pounds, or about 3.6 thousand. zloty. This is in line with the average offers for three-room apartments on GetHome.pl. A little cheaper than in Poland, among other things in our southern neighbors – in the Czech Republic and Slovakia.

– So what if Poland is still one of the cheapest countries in the world in terms of rent. The problem is that when it comes to the rent-to-earnings ratio, our country is already on top! – Comments by Marek Wilgo, expert of the GetHome.pl portal.

Money.co.uk notes that renters in Azerbaijan are in the worst case in this regard, with rent for a three-room apartment taking up as much as 71.5 percent. their average earnings.

The authors of the analysis note that in our country, which took 10th place in the ranking, the rent is almost 52 percent. average income. According to this portal, it is priced at £1,303. Converted into our currency, it is less than 7 thousand. PLN, which is about the same as the average gross salary in Warsaw, Krakow, and Gdansk.

Marek Wilgo