Can anyone tell me how much rent I should expect for a fully furnished 1 bed apartment (54m2) in Białołęka, Warsaw should be - I have been quoted 1500PLN and it doesn't come near my mortgage of 1900PLN plus all the management fees on top of that!
Am I best to sell - what would the value be? (estimated)
Your competition is here: dom.gratka.pl/mieszkania-do-wynajecia/lista/,warszawa,bia%B3o%B 3%EAka,2,50,60,2,dz,lp,mo,md,s.html
Those are just the asking rents, so they just reflect the hopes of other owners. The latest Szybko report (Q1 2008) says that the average rent for a 2-room (1 bed) apartment in Białołęka was 1571zl. The average selling price for a 2 room was 7367zl/m2. So all thinge being equal, about 400,000zl for your apartment.
Of course all of these numbers are market averages and do not reflect your exact situation. The market is very sluggish right now and you may have difficulty offloading your apartment for the next 12 -18 months.
Of particular concern is the latest REAS / Gazeta report which advises that prices for new off-plan apartments on the primary market in Warsaw are actually 10 - 20% cheaper than those completed in 2006 - 2007 and now placed on the secondary market by speculators attempting to cash out.