Poland. Second chart shows average transaction prices per square metre in Warsaw - yellow is new apartments, blue indicates used: https://zametr.pl/ceny-miesz

Poland. Second chart shows average transaction prices per square metre in Warsaw - yellow is new apartments, blue indicates used: https://zametr.pl/ceny-mieszkan/warszawa https://zametr.pl/ceny-mieszkan/warszawa Around 2017, when there was little to no inflation, prices started going up. This can't be explained by things like the influx of Ukrainians, since that originally started en masse after the annexation of Crimea in 2014. Also there's no such effect in 2022. What is known though is that starting in 2014 investment properties started becoming an increasingly large proportion of the market - going from single-digit percentages in 2012 to 42%+ right before the pandemic.