/ property in Lodz - anyone any experience
I heard that I may have missed the boat with Lodz. Does anyone know if this is true?
I don't think you have missed the boat in Lodz, just think carefully exactly where you want to buy in the city. If you are looking at Poland overall this is very good:
It suggests Lodz to Warsaw is like Birmingham to London and we all know what happened to prices in Birmingham when London became really pricey. In the next few years Lodz and Warsaw will be connected by motorway and they are only 100km apart. Add to this Lodz is half the price of Warsaw property-wise and away you go. But, but, but ... be careful of the Lodz fashion for lofts. The average price per square meter of property in Lodz is about 4,500 PLN - lofts are often being punted for twice that!!
This page shows what a bad investment they are:
Now click on the link for Scheibler Lofts. Here it offers a studio apartment for 242,000 PLN (7,800 PLN per square meter) and estimates the rental income of the property would be 1,000 PLN per month. An 80% mortgage at 5% interest would mean monthly repayment of 1,400 PLN. From day one you are loosing 400 PLN per month and you haven't even started paying the service charges, management fees, etc. Not sure why this site thinks they are such a good investment - perhaps because they are being paid a commission........?