Real Estate / Mortgage prices and rates in Poland [28]


How times have changed.. I remember rednet as a mere clumsy real estate website 4 or 5 years ago, with an even clumsier boss, robert something I believe, who was harassing all UK based property brokers trying to sell them the latest off-plan deals.

I must say he did VERY well for himself and rednet is now barely recognisable.

Hats off to his entrepreneurial genius.

PJ.

Real Estate / Interest Rates for Home loans In poland [39]

I have two mortgages from DomBank and most foreigners I know of who bought properties in Poland have done likewise.

There is a good reason for that. 3 or 4 years ago it was virtually impossible for a non resident foreigner to get a mortgage in POland. Dom bank were among the few ones offering their deals through Open Finance.

A few other banks did too (BZWBK springs to mind but the amount of papers they required was hilarious) but as a matter of fact, Dombank rates were among the most competitive at the time.

Obviously things moved on a lot since then.

Point taken though. I will apply for 3 mortgages by year end for properties due to completion in 2009 and I will certainly use your services.

PJ

Law / Ikea suspends all investments in Poland [35]


Miranda, your economic knowledge is rather inexistant. They have tried rent regulation in Poland for over half a century and they ended up with the horrible and disgusting panelaks that r still littering the landscape.

As a rule, artificially capping a price only creates shortages. In this case the landlords would have little incentive to invest in properties (which means developers would have little incentive building them), offer their existing properties, let alone maintain the tenanted ones. In the extreme, you would actually end up with a government running the housing for the entire population, just like it was during the good old days of communism.

What you seem to loath, and rightly so, is the perceived landlords' greed. But that's simply profit seeking and that's a crucial component of a free economy. What is lacking in here is competition that would increase the offer and thus bring prices down. That's precisely where the government is failing, by creating all sorts of hurdles (zoning, red tape, tons of regulations..) before a single brick gets laid.

Trusting any government to solve a housing crisis is madness. Trusting a polish government is even worse.

PJ