Warsaw on par with Berlin ... in the price of renting apartments
Poland caught up with Germany faster than the ruling politicians had predicted. Warsaw goes head-to-head with Berlin, but unfortunately it concerns prices for renting apartments.
Rental costs in Warsaw are at the level of costs in Berlin, Cologne or Dusseldorf - according to Expander and Rentier.io report, which cites "Fakt". Prices are rising the most in the small apartment segment.
Renting a 50 sq m flat in Warsaw it costs 2864 PLN. For comparison, in Berlin, Cologne and Dusseldorf it will be the equivalent of about 2,882 PLN. However, the average salary in Warsaw is PLN 6,365 in August 2019 (GUS data), when Berlin earns about 2.5 times more. The average salary for 2018 for the German capital is 3544 euros, or about 15,000 PLN (data from gehalt.de).
If you compare the rental price to the installment loan, you will find that there is 19% rent in Warsaw. higher than loan installment. The average for all of Poland is 24 percent. Sosnowiec and Częstochowa are the worst for landlords in this respect. The rent for a studio apartment is twice as high as the loan installment.
As Expander's experts note, the rental, especially in the case of small apartments, is argued by the fact that it is easier to move to another apartment later (e.g. a larger one, but your own). If you decide to make a loan, you must have stable employment and tens of thousands of PLN of own contribution.
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