Optimism – the key word for 2024. HREIT takes stock of the past year
The last few years have not spoiled either businesses or consumers. Although words such as pandemic, war, economic crisis and inflation did not help, the effects of all of these are still strongly felt, both in everyday life and in business. Disjointed supply chains, the huge logistical and humanitarian undertaking of bringing aid to Ukraine, grappling with soaring prices of utilities, fuels, raw materials and commodities – all made running a business in Poland challenging. Another year is coming to an end, during which these challenges have been successfully faced by HREIT S.A.
The changing property market
In 2023, the property market in Poland has clearly rebounded. Of no small importance was the government’s 2% Safe Credit programme, which enabled families who could not otherwise afford to buy an apartment to do so. Developers have also dared to unfreeze investments held back during the pandemic. Hence the big upturn in housing market.
However, the industry is facing further changes. Their causes are several, but the main ones are demand and inflation. Poles want to buy apartments because they increasingly perceive it as the only secure investment, especially in difficult times. On the other hand, prices are still going up and it is still difficult to judge when the economy will catch its breath. We can therefore expect housing price increases in 2024, often on a month-to-month basis. Anyone who still has cash or creditworthiness should therefore choose a property as soon as possible – while there is still plenty to choose from, as demand in housing market far exceeds supply.
HREIT listens to the market
– In planning our investments, we follow the needs of our potential clients first and foremost. We choose locations that are in high demand, and we design apartments of varying sizes and layouts to suit the real needs of buyers. We do not limit ourselves to one type of housing estate. In our portfolio, we have investments in the very centres of metropolitan areas, but also in suburban locations. We build skyscrapers housing hundreds of units with panoramic views of the surrounding area but also intimate, boutique low-rise developments. We offer ergonomic studios and two-storey apartments of well over 100 sqm. Each unit has its own balcony, loggia or garden – explains Michał Sapota, owner of HREIT.
Currently, HREIT has dozens of investments in eight provinces, with more in the pipeline all the time. Great emphasis is placed not only on the comfort of residents, but also on ecology. Bicycle repair stations and parking space, charging stations for electric cars, smog-absorbing paints, materials with a high thermal insulation coefficient, apartments’ layouts that make maximum use of daylight, use of grey water and rainwater, green common spaces – these are just some of the developer’s consciously chosen solutions.
HREIT also remains socially responsible. Our company is a partner of the Our Future Foundation, which works for talented young people, and of the scholarship programme ‘Młodzi’ (Young) in Łódź. The company supports the CPI Young Champions Foundation promoting sport and healthy lifestyle. The company looks after the Pegasus Foundation, saving animals from torturous labour and slaughterhouses.
HREIT enters 2024 with optimism, but also with an awareness of the enormous amount of work that needs to be done to meet the expectations of Poles dreaming of their own apartment, while maintaining the spirit of sustainable development and a satisfactory financial result.
Source: HREIT S.A.
Last Updated on January 30, 2024 by Krzysztof Kotlarski