Real Estate /
Prices of apartments in Krakow are collapsing further down in 2010-2011 [150]
Goldman Sacks say the Zloty is clearly under valued, the Zloty will rise again.
I agree but I doubt it will get back to 3.3 against the Euro.
Obviously prices in Krakow are ridiculously high in relation to wages and should come down.
The examples given by some of the posters on these forums is ridiculous but it certainly does not represent the average price in Krakow.
Kraków:
(average price per M2) = 6 533
(family a couple pluse a child can afford) = 47,5 M2
(single person can afford) = 23,6 M2
Open Finance
open.pl/news/wieksze_mieszkanie_za_srednia_pensje.html
And remember they take the average wage from Poland and the apartment prices from Krakow, so it is still a bit off but I won't argue it too much :)
Second , even in the boom, the number of new builds were small compared to other countries - there isn't really that many new buildings for sell.
Developers here were quick to stop new projects over the next few years, just finishing what had already been started and not coming down in price.
Not to say there are not new developments but a couple of gear shifts down.
There are also not very attractive so called "high end" apartments that are not being moved or just over valued apartments but a quick comparison would have you out of the woods on that one.