Demographics of Poland
According to the 2011 census by the Polish Central Statistical Office (GUS), at the end of 2011 Poland had a population of 38,538,447, which translates into an average population density of 123 people/km (urban 1105 per 1 km², rural 50 per 1 km²). 61.5% of the Polish population lives in urban areas, a number which is slowly diminishing. Poland is the 33rd most populous country in the world (9th in Europe, with 5.4% of the European population). Total population of Poland is almost stagnant (population growth was 0.08%). Average life expectancy was 70.5 for men and 78.9 for women. In 2009, it was expected to be 73.1 for men and 79.5 for women. Population distribution is uneven. Ethnically, Poland is a very homogeneous country, with 96.7% of population being Polish.
Polish property bubble
In early 2007, it can be argued that the Polish property market began to show the early signs of a property bubble: 
As of 2013, house prices in Poland have been falling since mid-2008. Compared to pre-crisis peaks: 
The arguments for further real estate price rises or stabilization are:
In addition, Warsaw has a population of only 2 million people – approximately 5% of the whole of the country – which is very low for a capital city. Poland is also one of many countries with a rather high house price to income ratio (13.58) and an estimated rental profitability between 3.92% to 4.31% for residential units.