ela_lawyer
11 Jan 2008
Real Estate / Deals available from Polish property developers [40]
eleanoroconner,
You are partially incorrect to make sweeping assumptions like this. Although locals account for most of the demand in Poland, foreign influence weighs heavily on the Polish property market. Let's take a look at an excellent article from the "International Herald Tribune" entitled, "Poles watch housing prices soar as western Europeans snap up property in new EU nation", dated September 13, 2006, but very relevant to today's property prices. Here are some snippets:
- "Like many Poles hoping to buy a home, the 30-year-old journalist has resigned herself to painful compromises - having to live in a suburb and commute by car - as soaring housing prices driven partly by foreigners put much of the city's best property off limits to normal working people."
- "House and apartment prices in Warsaw and other leading Polish cities have spiraled upward since the eve of the nation's 2004 entry into the European Union - a boom driven by low interest-rate mortgages, housing shortages and foreign speculators snapping up real estate as investments."
- "The demand is generally driven by local people but there are buyers from Spain, the U.K. and Ireland buying new constructions in bulk - 10, 20 or 30 apartments and sometimes even more," Rutkowski said.
- "The foreign speculators are pushing the bar up for normal buyers," said Andrzej Halesiak, an economic researcher with the BPH Bank who has studied the issue.
Unlike Poland the Bulgarian boom has been caused by foreign buyers.
eleanoroconner,
You are partially incorrect to make sweeping assumptions like this. Although locals account for most of the demand in Poland, foreign influence weighs heavily on the Polish property market. Let's take a look at an excellent article from the "International Herald Tribune" entitled, "Poles watch housing prices soar as western Europeans snap up property in new EU nation", dated September 13, 2006, but very relevant to today's property prices. Here are some snippets:
- "Like many Poles hoping to buy a home, the 30-year-old journalist has resigned herself to painful compromises - having to live in a suburb and commute by car - as soaring housing prices driven partly by foreigners put much of the city's best property off limits to normal working people."
- "House and apartment prices in Warsaw and other leading Polish cities have spiraled upward since the eve of the nation's 2004 entry into the European Union - a boom driven by low interest-rate mortgages, housing shortages and foreign speculators snapping up real estate as investments."
- "The demand is generally driven by local people but there are buyers from Spain, the U.K. and Ireland buying new constructions in bulk - 10, 20 or 30 apartments and sometimes even more," Rutkowski said.
- "The foreign speculators are pushing the bar up for normal buyers," said Andrzej Halesiak, an economic researcher with the BPH Bank who has studied the issue.