Secondary or primary market? Q2 2025 analysis

1. Transaction Prices

• Primary market: The average price per m² of new apartments in Warsaw in Q2 2025 amounted to 16,417 PLN/m².
• Secondary market: The average price per m² of resale apartments amounted to 16,355 PLN/m² in the same period.

Conclusion: The difference of approximately 62 PLN/m² (0.4%) is currently minimal, but primary market prices tend to maintain a slight premium due to “turnkey” finishing and modern standards.

2. Transaction Time and Process

Stage	Primary Market	Secondary Market
Preparation	6–12 months (design + permits)	a few days to weeks (land register verification)
Finalization of Agreement	signing a developer agreement, followed by the transfer deed (which may last until project completion)	preliminary agreement + notarial deed (usually within 1–2 months)
Handover of Apartment	during the development stage – technical inspections and corrections	apartment available “immediately”

 

Comment: A primary market transaction requires patience due to the construction process but simultaneously provides protection for the buyer (warranty, guarantees). On the secondary market, the time from decision to receiving the keys is often 4–8 weeks, provided there are no legal complications.

3. Risks

• Primary:
  • Delays in project completion – extension of the key handover date (often regulated by contractual penalties).
  • Change in loan cost – signing the developer agreement at a different interest rate than on the handover day.
  • Risk of developer bankruptcy – although it is protected by the Bank Guarantee Fund.
• Secondary:
  • Legal encumbrances – mortgages, easements, incorrect entries in the land and mortgage register.
  • Hidden technical defects – the technical condition of installations or moisture issues may become apparent after purchase.
  • Price negotiations – the seller may change the terms (extended deadlines, deposits).

 

4. Benefits

• Primary:
  • New energy efficiency standards and turnkey finishing.
  • Ability to choose the location and layout of the apartment at the design stage.
  • Developer warranties and guarantees for a minimum of 5 years.
• Secondary:
  • Often a lower actual asking price – more room for negotiation.
  • Faster access to the property (“immediately”).
  • Ability to view the real condition and surroundings “live”.

Summary
If your priority is time and readiness for immediate occupancy, and the buyer has experience in assessing technical condition, the secondary market may be the better option. However, for those seeking modern solutions, guarantees, and the ability to choose finishing options “from the start,” it is worth considering the primary market, even if it requires patience while waiting for the completion of the investment.