In the first half of 2018, the ROBYG Group contracted net 1516 units (net of cancellations) in Warsaw and Gdańsk. Due to increasing construction costs, the Group has been consistently raising prices of flats and adjusting the pace of sales to better align with the progress of construction. In September, the company will assess its contracting targets for 2018 based on market trends and the length of administrative procedures.
„Contracting of 1516 units in the first half of the year is consistent with the targets of the ROBYG Group and at the same time is a good result given the current situation in the construction industry. All developers are faced with a slowing down of administrative decisions process for building permits and labour shortages among subcontractors, translating into longer development timelines. At the same time, market trends indicate that housing prices will continue to increase – by up to 15% by the end of 2018. The ROBYG Group is well-positioned to adjust its offer to demand in order to benefit from price increases and maintain the current level of margins. The development industry in Poland has attractive growth prospects on the back of strong demand and significant housing needs, which ensure continuing absorption of new product and low interest rates, which are expected to remain at the current level at least until the end of the year” – said Oscar Kazanelson, Chairman of the Supervisory Board of ROBYG SA.
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