Polish GDP growth forecast revised upwards
Driven by private consumption and investments the Polish economy has been performing very well in the last few months. GDP grew 3.9% in Q2 year-on-year (4% in Q1). This is one of the best results in the EU. The Polish authorities expect that GDP growth in 2017 would be around 4% as well.
Moreover, the forecast for 2017 has been revised up recently. Moodys increased its forecast from 3.2% to 4.3% for 2017. The European Commission increased its forecast from 3.2% to 3.5% and 3.2% is expected in 2018.
GDP growth combined with continuously decreasing unemployment, which is at historically low level, and increasing wages (5-6% per year) all should have a positive impact on property market, so we expect prices to start rising over the next year.