Paweł Malinowski, CEO of Profbud, talked with Property Forum about the cooldown on the Polish residential sector, building developer-owned wind farms and the necessary diversification of the product portfolio in the current market conditions.
Sales at property developers slowed sharply in Q1 2025 and were around 18 per cent lower than in the same period a year ago. A temporary cooling of the market or the beginning of a downturn?
The slowdown in sales in the first quarter of 2025 can be perceived as a temporary cooling of the market, but not a signal of an imminent crisis. Sales of apartments in 2024 were lower than in 2023, but higher than in 2022 and by 14% in the six largest cities in Poland; therefore, we cannot speak of a downturn. Currently at Profbud, we have not seen a decline in interest in our investments - quite the contrary. In March alone, two residential projects in Warsaw achieved sales levels with a result exceeding 100 and 150%, which confirms that the attractive location, high quality of execution and the “soul of the project” attract customers. Our development plans are ambitious - in Q1, we started pre-sales of the Mocha Tower development in Warsaw's Gocław neighbourhood. In the near future, we have plans for new developments that will completely change the face of premium real estate and set new boundaries for luxury. In short, where you live matters, and how you live matters even more.
CEO
Profbud
