Real Estate /
15 reasons why the Polish real estate market will crash soon [258]
At the height of 2007 the value of the house rose substantially but this year if I sold, I would have to accept a lower price, but, it would still exceed what I paid.
I am in the same boat, although it would not be much more than what I paid originally.
Which in todays market is as good as it gets.
"the prices will rise because the building materials are more expensive"
Building materials have not risen in price.
I still don't know why homes are so expensive in Poland especially country areas.
You have posted before that the average house in Poland is 1 million PLN, that is over double the price, perhaps that is why you think houses are so expensive?
Hello Covex,
And welcome to the Polish forums.
Just a few things on your post, you take a random flat in Wrocław and the median wage from all over Poland. Perhaps an average wage from Wrocław with a flat in Wrocław would be a better indicator?
(average price per M2)
From here Open Finance
open.pl/news/wieksze_mieszkanie_za_srednia_pensje.html
With 20% down on a 20 year note
Why not a 30 year mortgage? it seems to be the standard here.
It is difficult to see housing price increases to continue without real median wage increases.
Good point, I doubt house prices will increase, the days of buying an apartment and sitting on it a few years are gone. It is a more steady market driven by locals, which is more sustainable than the likes of all the foreign investments on apartments in Bulgaria (a false bubble).
I think this levelling off in the market is necessary for Poland, if it had continued the way it was, we would surely have the same difficulties a lot of other countries are suffering now. The prices for an average apartment is affordable to the average household.
which will obviously affect property prices.
Good point.
And nice have your contribution as it is more balanced.