Real Estate / Apartment purchase in Poland [226]

I just came across this forum tonight. I have been to Poland 5 times over the last 3 months. I have been looking for development sites in the Tricity area. It has been pretty hard going. A few sites did come my way but I didnt act fast enough and lost out.

I noted on page 1 Jasiu was purchasing attics and converting them into apartments. Last month I looked at two such apartments in Sopot. Any chance you are developing them ??

I am currently looking at a site near the old town in Gdansk. Busy number crunching to see if the site will be profitable.

Real Estate / Information on buying development sites in Poland [27]

Hi Seanie,
I have just returned from my 8th trip to Poland in 4 months. My partners and myself have been looking for sites on which to build apartments. We found it hard going to find sites but we believe we now have a couple. If you want to phone me on 086 6057306 I will try to answer any questions you may have.

BubbaWoo and myself enjoyed a few meals over the last few days.
John

Real Estate / buy off the plan in tri-city [25]

Or Buy and sell in Ireland. Wednesday is the main property day. All in Polish I`m afraid

Real Estate / buy off the plan in tri-city [25]

Hi Seanie, I doubt that you will find any Polish property in our Buy and Sell paper. B&S is the Irish version of Polands Anonce which was referred to.

Prices in the Tricity area are really moving. A report on the rednetproperty.com site says that Tricity apartment prices rose 6.7% in February and a massive 8.8% in March. The average price is now 6954zl per m2. In a couple of months I hope to start selling 80 off plan apartments near the old town in Gdansk. Think that I will also have a similiar site in Gdynia.

Hi Bubba, I was in Sopot for a few days last week. I landed on tuesday evening and dashed to Roosters to get the second half of the Liverpool v Chelsea match. Very happy with the result. I hope to get over for a couple of days again next week. When do you expect to get back again yourself ?

Real Estate / buy off the plan in tri-city [25]

Just arrived in Tricity tonight. I will be here until friday morning. I got my months mixed up in my earlier posting. I should have said that apartment prices in Tricity rose by 6-7% in January and 8.8% in February. The increase for March was an impressive 5.9%. Monthly market reports for most Polish cities can be found on rednetproperty.pl

I wouldnt mind meeting up with Scarbyirb or anyone else interested in property while I am hear. My Irish mobile number is 00353 86 6057306

Real Estate / COMMERCIAL PROPERTY IN WARSAW [15]

Hi Liam,
Generally speaking you dont get long term commercial leases in Poland like we have in Ireland and the U.K. I think that most leases would be 5 to 10 years with the latter being the max.

Real Estate / COMMERCIAL PROPERTY IN WARSAW [15]

Hi Liam,
I am in Poland at the moment sourcing sites for apartments. I am also looking out for commercial opportunities for some clients. I am not really into commercial myself but from talking to bankers and agents here I would appear a 10 year lease is considered a long lease in Poland. If you email me seperately details of what you are looking for and funds available I will see whats available. i am in the Tricity area for 2/3 days every second week.

Hi Grzegorz,
Everyone makes money from other people. Look at the billions in aid that Poland is getting from other E.U. countries. I am paying some of that in the tax I pay in Ireland. For many years Ireland also received much more in aid than we paid in. There is nothing wrong with free movement of money and labour. Some 200000 Polish people are now working in Ireland. Our population is only 4m so Poles now make up some 5% of our population. We are not saying send them home because they may be taking jobs from Irish people. Foreign investors and developers are coming into Poland to make money. However, they are helping Polish people to get better housing and providing employment along with bringing more money into the country. Everyone should benefit.

Real Estate / buy off the plan in tri-city [25]

Hi Spiritus,
Yes indeed, I had a very productive 4 hour meeting with Dagmara. looks like that I will now be adding two sites in Gdynia. Didnt stay in the Grand. I do like my comforts but with the busy season approaching the rates at the Grand are getting beyond what I can justify. I am staying at Villa Baltica. Much more reasonable.

Enjoy your break. I hope the weather improves as the rain is pouring down outside at the moment

Real Estate / COMMERCIAL PROPERTY IN WARSAW [15]

click on the linre under profile under my name and this will allow you to send me a private email. I can then reply as your email will show

Real Estate / Advice on what Polish city to invest in.... [101]

The old town in which city ?

Real Estate / Advice on what Polish city to invest in.... [101]

I will be meeting an english speaking Krackow based notary in Gdansk on wednesday. If you like I can get his contact details and pass them on to you.

Real Estate / Development Sites in Zielona Gora [7]

No way !!!!!!
But I do have to make some money to enjoy Tricity

Real Estate / Development Sites in Zielona Gora [7]

Doubt if I would be building 100 m2 apartments. I would think 50 to 65 m2 would be best. I believe that a refurbishment development is asking 4700 zl per m2. I dont know whether they are getting it. The two sites I looked at are much better locations.

I put up my posting to see what peoples opinions are. Ok Silooy thinks that a 100m2 apt would not get 500000 zl. Would a 60 m2 apt get say 290000 zl ???

Law / Investing in Polish stocks and bonds [8]

Hi Dee, the Irish economy improved greatly around 1995. During the many years prior to that the economy would have been much worse had we not been in the EU and we may not have been in the position to make the huge gains since 1995. From the day we joined we got much more from the EU in grants than we paid in and without that net inflow we would have been rightly up the creek. Poland will now benefit from billions in various EU grants and structural funds. This will help keep employment in agriculture and keep everyone in the construction industry very busy for many years.

Related: Polish bonds a good deal?


If you live in the States it is unlikely you will be able to purchase and cash in these bonds directly on your own. If you really want to invest in Poland from abroad you should look at finding mutual funds or exchange trade funds which have the access to such financial instruments.

bloomberg.com/quote/N1SPBEP:LX

A Polish Bond Fund. Seems pricey though.

Real Estate / PLN or CHF currency - Home Loan for mortgage in Poland? [7]

If you visit dombank.pl and you go into the English section, site map and then interest rates you will see that they offer Swiss, Euro, Dollar and Polish Zl rates. The Swiss rate is cheapest at 3.46% while the local zl rate is most expensive at 6.85%. I dont us Paddies would get much more than a 60% or maybe 70% loan while 100% or more is available to locals.

Real Estate / PLN or CHF currency - Home Loan for mortgage in Poland? [7]

I deal with WBK but on site finance. I will soon be selling apartments not buying but thanks for the tip on Noble bank. Any idea how much of a load did the Irish guy get ?

Real Estate / Cost of construction per square metre [15]

Flats would normally be sold in basic condition with no fitted kitchen or bathroom suite. I calculate building cost per m2 sellable. This would be around 70% to 75% of the gross buildable area ie net of hallways etc. I think most would work on 3500zl to 3700 zl per m2 sellable. With gross area of 2000m2 net sellable at say 73% = 1460 @ 3700zl = 5,402,000 zl.

Real Estate / Building Land - Advice required [4]

Each area should have its development plan. If you look up the folio it will indicate what can be built on the land. Krackow itself is an exception as its development plan is out of date and you have to start the planning process from start. Your area outside the city may have a current development plan.

You cannot purchase land if you are a UK resident. You will need to set up a Polish Limited Company and have a local involved.

If you email me seperately by clicking on the line under my profile I will send you details of a good English speaking solicitor.
There are tax implications. A bit of planning can minimise these.
Finance can be arranged. Banks will give from 50% to 70% for site purchase depending on location and building experience. You shouldnt need development finance as you can use purchasers off plan booking deposits. Normally you get 10% on exchange of contracts followed by another payment of 30% within one month. You get to use this money unlike in the UK.

UK, Ireland / Lay offs in construction in Ireland [4]

Actually the sub prime problem has had no effect on the Irish property market. The downturn started months before the sub prime problems. In Ireland sub prime lending is very new and would only account for a very small part of the lending market.

UK, Ireland / Polish Restaurants in Dublin, Ireland [8]

I havent seen it but I am told that there is one on Georges st in Dunlaoire

Real Estate / Buying an apartment Zielona Góra [2]

I was there a couple of months ago looking at 3 sites to build flats. I saw one old building which is currently being converted into flats and I heard that there were a couple of other developments being sold off plan. Two of the 3 sites I was shown were very well located and I may possibly purchase one or maybe both. I am a bit worried about whether I could get a good level of off plan sales as developers are slow to start building unless they are happy that the development will sell. Over the last year or two demand has been such that, in the larger cities especially, all are sold off the plans and none are left for sale by the time that they are actually built. This seems to be the problem you have encountered.

I certainly liked the centre of town and would think that it would be a very nice place to live. Good luck with your search.

Law / Today's Zloty - 1.00 GBP = 5.25471 PLN [29]

Hi Bubba, I dont know why you posted that the exchange rate was putting a smile on your face. You always have a smile on your face !!!!

UK, Ireland / Polish Restaurants in Dublin, Ireland [8]

I will try it next week.

Law / Today's Zloty - 1.00 GBP = 5.25471 PLN [29]

Still in the office doing tax returns at 00.20 ! I will pack it in soon. End of month is the deadline for filing tax returns. Under certain circumstances you can pay and file on lone up to 15th november. I hope to fly to Liverpool early on wed 7th and then fly on to Gdansk that evening.

You off spending some $s yet ?

UK, Ireland / Polish Restaurants in Dublin, Ireland [8]

Mmmm I have just been caught for 90 grand for a personal guarantee for a guy operating a restaurand just along the road from that one. The business were bust. Maybe I should have taken over the lease myself and opened a genuine Polish restaurant there.

I have been thinking for 6 months now of opening a Polish restaurant in Liverpool. I will probable chicken out but ...........maybe

UK, Ireland / Polish as Irelands Third Offical language? [123]

Ireland (Republic) has a population of 4m. This includes around 200000 Poles. I would imagine that next to English more people here would speak Polish than Irish. The number of Irish speakers is pretty small and, more or less, confined to small areas in the west of Ireland.

Real Estate / Situation on real estate market in Poland as at October 2007 [2]

I have been keeping an eye on the rednet reports for 6 or 7 months. I dont know how accurate they are but they would certainly provide market movement guides. If you search around you can find a section with all the previous monthly reports.

Real Estate / Deals available from Polish property developers [40]

The more attractive a deal looks the more research you need to do. In my experience when offered a very attractive payment method there are two things you have to look at.

1. Am I paying too much for the property.
2. Is the development in an bad area.
Sometimes you have a combination of these.
I am not saying that the development you are looking at is not a good one, I am just suggesting that you look at why he is offering such good payment terms.