Real Estate / Prices of apartments in Krakow are collapsing further down in 2010-2011 [150]


As I mentioned in a another post I don't think prices will crash, it just might level out a bit, sort after properties in central warsaw and krakow, gdansk will continue to rise because they attract a different type of buyer, definitely people who bought off the plan apartments may find the pinch and come out second best. Poles are not in the habit of selling there family home every five minutes like people in the west and all said and done the homes on the market for a population of 38 million people is very small, lets be clear a crash occurs when a mass of people are forced to sell for whatever reason and buyers are few, this causes a crash, this is not the case in Poland.

A lot of the spin and scare mongering usually originates from real estate agents.

USA, Canada / US real estate crisis, how does it affect Polish-Americans [26]


True, true, prices of homes in Los Angeles 2years ago fetched $600,000 now difficult to find a buyer at half the price... like in Japan I don't think the real estate market will recover in the US for a long time...

Real Estate / Prices of apartments in Krakow are collapsing further down in 2010-2011 [150]


as if every person owned a house or apartment, most of the people who left poland were no hopers who neither owned a house or had a no job. The were what they call gentlemen of no means who would seek there fortunes abroad.

Real Estate / Prices of apartments in Krakow are collapsing further down in 2010-2011 [150]

sure I agree that people who purchased off plan are now biting their fingernails, the obviously had nothing between the ears except suffering from delusions of grandeur in other words greed, as mentioned by somebody else some of the new apartments were stuck up in seconds and maintenance will be a bit issue in the future, most Poles due to lack of funds did not purchase these properties.

Lets be clear a person buying a house to be used as a family house is a good investment.
I think Real estate as a means of investment is out of bounds for a lot of astute investors.

Real Estate / 15 reasons why the Polish real estate market will crash soon [258]


green behind the ears alright, green and wet at that, no one is going to buy at that price sorry, no matter what trolls are on this forum, the price of real estate is by far overpriced.

Real Estate / 15 reasons why the Polish real estate market will crash soon [258]

whilst I agree, you may also include banks who are keen to set up somebody to a life of debt and be at its mercy...people with high debts don't become free people as they stress out about repayments in a climate of job insecurity etc

Popw, please don't mind asking but who are you, please declare your hand.

Life / Who has moved to Poland in the last year? Swap stories. [115]


I think most people in any country would fit that mould, I from my own experience can say do business with polish people is a experience and a half, one example tell a pole selling a house that prices have come down, da!!! no no prices will increase 50% next year..

Travel / What a horrible vacation (the water in Poland destroyed my gallbladder) [36]


was the water you drank brown or was it the beer.

Real Estate / 15 reasons why the Polish real estate market will crash soon [258]


just one example please, just one..

Real Estate / Prices of apartments in Krakow are collapsing further down in 2010-2011 [150]

The reason why prices have gone up is that those 2 million poles who went abroad, sent back to Poland some 125 billion Euro in the last 5 years, most of this would have gone to real estate, this may explain why prices have gone up against a general down turn in the real estate market in the world and now with less money coming in from foreign sources the real estate market is coming down.

Real Estate / Prices of apartments in Krakow are collapsing further down in 2010-2011 [150]

Sean no links but cold hard experiences, you may well be critical of people who forecast a market downturn, but you masquerade in doing the opposite, claiming prices will increase?

Real Estate / Prices of apartments in Krakow are collapsing further down in 2010-2011 [150]


Whe your in Poland you have to graduate from the college of hard knocks, I've done so and now sharing my experiences

Real Estate / 15 reasons why the Polish real estate market will crash soon [258]


Thats correct, people are mislead into believing that properties sold in sort after locations effect all properties in general, not the case...if you look at real estate sites some properties are on the market for years. you don't have to work out why. Poles are great optimist though, I'm now hearing that with a euro currency in Poland prices will jump 50% ..

Life / Who has moved to Poland in the last year? Swap stories. [115]


Its seems you have had a bad experience in Poland George, do you want to talk about it?

Real Estate / 15 reasons why the Polish real estate market will crash soon [258]

I've just seen a house advertised for 1.8 million zlote, the agent has given it a big song and dance but in real terms its not worth more than 600,000zl max. the more times agents put on the market these ridiculous price the more people believe house are worth that much. The motto real estate agents should have is bullsh/t baffles brains.

Real Estate / 15 reasons why the Polish real estate market will crash soon [258]

Sort after, blue ribbon areas will always maintain good value ie old town areas of Krakow, Gdansk and Warsaw, but some of the country areas, I just cannot believe what people are asking, that property I mentioned in my previous post for 1.8 million zlote, well you could buy 2 very good properties in the US for that price and command a good rental return, I just laugh when people tell me its a good investment. The bottom line is people who have money don't rent and people on a 2,500 zl per month cannot afford to go near that sort of place, further homes are not selling in Poland at the moment, I've been keeping a record of quite a few sites and the same homes appear and appear over and over again.

Food / Bad food experiences in Poland [30]


Absolutely, I personally don't eat out for that reason, you just don't know what your eating.

Real Estate / What does 250,000 zl buy in Wroclaw? [30]


simple answer is a big no. If you approach a Real Estate company they will laugh at you..
You may need to look at somebody who is selling privately and you may be lucky to get a flat ie approx 40m. You may want to wait for the real estate crash.. it will come...

Real Estate / What does 250,000 zl buy in Wroclaw? [30]


Most good homes in Poland are worth 1m plus in Poland, the question must be asked are there many 1m zl buyers around???????????. I don't the average home buyer has a fat bank balance and is able to afford a million zl loan.

Food / Bad food experiences in Poland [30]


Very common place for students to eat prior in the commo days, food was cheap and good, now its a place where homeless people hang out, the place has a funny smell when you walk in, like the smell of a hospital.

Real Estate / What does 250,000 zl buy in Wroclaw? [30]


Thats why real estate agents zero in on foreign buyers, because they are still able to buy at a inflated price. Who sets the price of real estate?? I suggest the answer is real estate agents.

Real Estate / What does 250,000 zl buy in Wroclaw? [30]


It becomes a cat and mouse game when dealing with real estate agents, unfortunately if they know you love the property it becomes hard to get the price down.

Real Estate / 15 reasons why the Polish real estate market will crash soon [258]


you may want to clarify this point please.

Real Estate / Prices of apartments in Krakow are collapsing further down in 2010-2011 [150]

please, please clarify your comments..

Real Estate / 15 reasons why the Polish real estate market will crash soon [258]

Many forum members made a terrible loss in the Polish Real Estate market, no need to rub the salt in though, keep in mind if you take into account the exchange rate of the US dollar and zlote, property has gone down 25% not taking into consideration any other factors...

Real Estate / 15 reasons why the Polish real estate market will crash soon [258]

Unless you see something you really like, but I would still be waiting..remember the whole mafia associated with real estate in Poland will never admit prices of homes are dropping.

Real Estate / 15 reasons why the Polish real estate market will crash soon [258]


Thats only chicken feed, when you dealing with a million zlote property. Thanks for your response though, the other question you could ask is why the prices of houses in the US are cheaper than that of Poland and which also bring in a higher rental return?

Real Estate / Prices of apartments in Krakow are collapsing further down in 2010-2011 [150]

Andy with respect, Poland has 38 million people, I don't think a couple of people wanting to live in Poland have bumped the prices of homes...lets get real, the majority of Poles are either pensioners or on a income of less than 1500zl a month and find it difficult to make ends meet. Those people buying on the higher scale are flush with funds and no matter how expensive real estate was they would still buy...Look at the price of homes in Hong Kong etc... The Polish lifestyle and infrastructure suits very few people let alone the harsh weather.. Andy you may get your slops from real estate, but understand some of us around haven't come down in the last shower.

Real Estate / 15 reasons why the Polish real estate market will crash soon [258]

Like your post, but Poland has adopted a US business style and practices. Most big companies are foreigned owned and its all for the shareholder ie more profit etc. There is a lot of corruption in all areas in Poland. I still don't know why homes are so expensive in Poland especially country areas. A lot of the older style building will have to be pulled down.