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Posts by eleanoroconner  

Joined: 8 Nov 2007 / Female ♀
Last Post: 10 Feb 2009
Threads: Total: 4 / In This Archive: 2
Posts: Total: 55 / In This Archive: 51
From: Scotland, Glasgow
Speaks Polish?: A Little
Interests: Money and travelling!

Displayed posts: 53 / page 2 of 2
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eleanoroconner   
11 Jan 2008
Real Estate / Flat prices in the center Warsaw? [13]

According to Mamdom average apartment price is now 9,627 PLN per metre. It was 10,772 last summer. I would say let it drop a little further by late Spring and then buy.
eleanoroconner   
11 Jan 2008
Real Estate / Deals available from Polish property developers [40]

If I was Bulgarian and flush with funds, I would be buying up big in that country.

I wouldn't for three reasons:
1) Unlike Poland the Bulgarian boom has been caused by foreign buyers. I looked at one on the Black Sea and the developer said only 15% had been sold to Bulgarians because they can't afford it and it really was nothing special. The permit system in Poland stops this happening.

2) Apart from Tourism there is not a huge amount going for Bulgaria in the future. Leave mentalitly and red tape out of it, Poland is simply in a better geographical position for business, industry and logistics.

3) From the United Nations:
Dwellings per 1,000 inhabitants
Bulgaria: 471
United Kingdom: 425
Poland: 308

And maybe on an emotional note I think their buggering up the coast line. With planning allowing blocks to be 3 metres apart some of the Black Sea coast in Bulgaria already looks worse than the Spanish 1970s concrete boom!
eleanoroconner   
11 Jan 2008
Real Estate / Poland property boom over???? [54]

You are funny, I suggest you look at how much Network Rail have spent on the WCRM upgrade, or then have a look at how much we spent on the Chanel Tunel or then again you could have a look at how much was spent on the Thames Link project, or on St. Pancras Station or on Manchester Piccadilly on our numerous airports...blimey...as for motorways we are updating and upgrading all the time...

Wrong end of the stick Shelley. I know the UK is upgrading all the time, I live here. The point in Poland is they are building motorways where there are now just two lane trunk roads. They are building airports where there is nothing. The money in the UK is for upgrades, the money for Poland is to produce a step change and with it there will be a step change in property prices. Is the UK planning to build 2,000 km of brand new motorway over the next 5 years? .... no. Is it building 5 new international airports? No.

One more point - 70 bn Euro goes alot further in Poland than the UK. I know we spend billions on upgrades but in Poland a billion builds more. Can't knock the UK, I live here, but Poland is a step change, not an upgrade.
eleanoroconner   
8 Jan 2008
Real Estate / Poland property boom over???? [54]

Or within an hours drive of Warsaw for that matter! 200 sqm. I don't believe it. Not a chance

Very much so but you are right, this does not include the legals. The house is shagged and it will cost the same again to sort it out and there is currently only a gravel access road but that is exactly the kind of pants infrastructure to buy in - it won't always be that way.......

Legals - I pay about 6,000 PLN for mine - I think your getting ripped off!
eleanoroconner   
7 Jan 2008
Real Estate / Poland property boom over???? [54]

Most of this thread talks about Property as if it were stocks and shares. When it comes to Poland future prices will also be determined by improved infrastructure. Will it happen. Yes - in the next 5 years 37 bn Euros will go into roads, rail and air from the EU plus the same again from the Polish government and private enterprise. This year the government is planning to build over 1,000 km of motorway and express roads.

This type of investment will help the economy grow and with it property prices. I don't see anything of this scale about to happen anywhere in Western or Central Europe so for my money when it comes to Bricks and Mortar Poland is still the place!

And the US - same as when endowment mortgages were mis-sold in the UK. Everyone said it would all come crashing down and that was over a decade ago. America is not as important as it used to me - Europe can manage on its own.

Is Germany cheaper - well actually parts of East Glasgow are cheaper than places in Warsaw so maybe I should make a sweeping statement that it is cheaper to buy in the UK than Poland. These broadbrush comparisons are crazy. I am looking at a 200 sqm house within an hours drive of Warsaw for 30,000 GBP at the moment - I don't think I would even find a burnt out insurance job within the commuting belt of London for that!
eleanoroconner   
4 Jan 2008
Real Estate / Buying a new development in Lodz - advice wanted [14]

See the thread "property in Lodz - anyone any experience" with lots of ramblings about this loft development including mine!! Totally overpriced from an investment point of view in my books unless you just want a lux pad for yourself in which case who cares! The average price of a residencial property in Lodz is currently about 4,500 PLN per sqm.
eleanoroconner   
4 Jan 2008
Real Estate / Poland property boom over???? [54]

very good money

Very, very good money - just don't buy in the centre of Krakow or Warsaw but look as you would in any country for areas with potential. North East Warsaw is a pile of pants at the moment but in a few years prices will have tripled and the usual doom sayers will be kicking themselves!
eleanoroconner   
4 Jan 2008
Real Estate / Does anyone know of a property 'fit-out' company in Wroclaw Area [10]

Got to agree with Johan123. I have used Mamdom on one fit out so far and went like a dream - will b using them for both ones I have completing this year.

There are loads of units - esp Lodz and Warsaw - being completed this year so my advice is to fit out premium - parquet, not laminate flooring, etc. I believe this year tenants will be spoilt for choice!!
eleanoroconner   
14 Dec 2007
Real Estate / Deals available from Polish property developers [40]

Thanks telefonitika, yes I believe it was Ms. O'Conner ;)

Very formal. Yes Mamdom have been good for me both for mortgages and solicitors as well as some of their new build stuff.

There are plenty of developers offering 10/90 or 20/80 deals but check the paperwork very carefully. In one case I found you had to pay an extra 800 PLN per sqm to take advantage of it and in another case the final price was to rise by 1% per month with the interest payeable with the completion payment!

Next year is going to be a great time to buy. There are a large number of developments in Warsaw completing and quite a few foreign buyers who, as someone said, were hoping to make a quick buck.

I believe prices will dip in 2008 because of this - only temporarily as long term demand and supply are clearly going to cause prices to rise. Cheesy though it is I have to say we have "a window of opportunity"!!
eleanoroconner   
10 Dec 2007
Law / Temporary residence card to obtain a mortgage in Poland? [17]

Wise words from Steve 25.

To get a mortgage where there is no commission to pay (which is what I did) fill out the form at:
mamdom.com/polishmortgages.php

and for a solicitor:
mamdom.com/polishsolicitors.php

I have bought three properties in Poland and don't know anything about this "residency cards" but I left all the paperwork to those who know what their doing. They asked me for this and that, I gave it to them, and I purchased. Much easier than trying to do it yourself!
eleanoroconner   
27 Nov 2007
Real Estate / VAT on new flats in Poland to rise to 22%? [10]

"For off plan properties the sale falls under the VAT category of Construction and Repair Services Relating to Housing. Until the end of 2007 VAT on new properties was paid at the reduced rate of 7% and remains so on residential properties smaller than one hundred and fifty square meters and single family houses less than three hundred square metres. For apartments or houses larger than this VAT is due at the standard rate of 22%. Be aware that not all developers include VAT on their price lists so always double check. Garage spaces, even when sold with a residential property, have a VAT rate of 22%."

From the book Buying Property in PolandIt also says VAT is 22% for commercial properties but no VAT on the secondary market.

Won't effect most people!
eleanoroconner   
27 Nov 2007
Real Estate / property in Lodz - anyone any experience [102]

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:

buyingpropertyinpoland.mamdom.com

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:
primepropertypoland.com
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........?
eleanoroconner   
15 Nov 2007
Real Estate / How do I look for property in the Sopot area? [45]

For airport info on Sopot try here (its actually going to be in Gdynia)
.mamdom.com/article.php?a_id=88

If you are investing serious amounts I would also highly recommend you buy this report:
.pmrpublications.com/index.php?id_rap=3127
eleanoroconner   
13 Nov 2007
Real Estate / property in Lodz - anyone any experience [102]

Nothing wrong with Lodz - going to be connected to Warsaw by motorway soon and attracting business like there is no tomorrow. I am not convinced by the lofts. According to Oferty.net the average price for residential property in the city is 4,811 PLN and these lofts are a long way above that. Can't see much capital gain in them at the moment as they are still ahead of their time.
eleanoroconner   
13 Nov 2007
Real Estate / How do I look for property in the Sopot area? [45]

Any thoughts would be appreciated. We are thinking of getting raw land and then building, but how easy is that for a non-Polish speaker? My grandparents, my father, and now my aunt are all in the cemetary in Sopot, so this is for sentimental reasons, as well as financial ones. I have never seen so much growth spurt as I noticed between 2005 and now, or the amount of building going on everywhere!

Helen - in my books you should apply for Polish citizenship. Google "Mamdom" and then click Go Buy The Book for more info. Then you can buy whatever you want. Alternatively fill out the form on the site for a solicitor who will help you organize the paperwork. Sopot is a favorite of mine because of a planned airport there but if you want to retire go for Mazuri!

If you are on a budget try also:

mamdom.com/listoffersforsale-szczyc-polishland.htm

There's land here to be bought on a credit card!!!!

Sorry I added a link in the last post by mistake - probably going to get told off for that!!
eleanoroconner   
13 Nov 2007
Real Estate / Can I buy a small farm in Poland? [49]

Babylon - I am not a solicitor! Just someone who knows what other people have told me and what I have read. If you seriously need advice - and this goes for everybody - don't ask strangers on the web, get qualified legal advice. For the three purchases I have carried out so far I found my solicitors at:

mamdom.com/polishsolicitors.php
From here I have used two different solicitors but feel very comfortable with them both and ultimately if they have got it wrong, they are the ones I will sue!!!
eleanoroconner   
12 Nov 2007
Real Estate / I'm not Polish - can I buy a house in Poland ? [49]

Benek - see the big picture, don't be so narrow minded. 40% of the city of London is owned by non-British citizens and it has made the city very wealthy. Perhaps one day 40% of Warsaw will be owned by non-Poles but in the great scheme of things it will benefit the country as a whole.

I hear plenty about Poles buying in Bulgaria and Spain at the moment ... perhaps they should not be allowed ..... ?
eleanoroconner   
8 Nov 2007
Real Estate / I'm not Polish - can I buy a house in Poland ? [49]

What a lot of rambling! Anyone outside the EU can buy Polish real estate if they get a permit. The posts on this thread are all over the place. Google 'Mamdom', click Property Guide on the left menu and then How to Buy which explains the permit system. At least someone on the web has done their homework.....
eleanoroconner   
8 Nov 2007
Real Estate / Am I able to buy property in poland? [4]

Brian - if you want to get Polish citizenship it should be straightforward. I know people who have only one great grandfather or grandmother who was Polish but still got citizenship. Talk to the Polish consulate in London and see if you have any paperwork such as the birth certificate of your father. If not you might have to get a solicitor in Poland to track it down for you.
eleanoroconner   
8 Nov 2007
Real Estate / Can I buy a small farm in Poland? [49]

Yes there are ways round the permit system - Google Mamdom, click on the side link "Property Guide" and then "How to Buy Polish Property". Thats the official version but I bought the book this website was selling last week and the get arounds are all in there ..... I know plenty of farmers from Cornwall and Devon who have already bought in Poland because the soil is much better for organic food.