15 reasons why the Polish real estate market will crash soon

thanks for the award, I take it you mean the genius of the year award!!

It is sad that not only do you take your failures out on me but that you take them out on a people. I don't really mind either way as it does not effect anything except for my perception of you.


That is one of the worst backup examples I have ever read for someone being anti-Semitic.


Still no word back from Kalop on my offer.
I wonder where could he be???
;)

confirms my belief that no bacon for you this christmas, Sean you have a fixed mentality, try to think beyond the square. For the record I am not anti semitic, I have a lot of jewish friends and like their culture.

Of recent time a lot of people have posted talking nonsense, I suggest for no other reason than trying to stir the possum .

I have met people like you Bolek, people who blame their failures on others.
Unwilling to except what they have and make do with it, always counting other people's money, measuring people by their material wealth, always jealous and trying to be condescending.

Merry Christmas Bolek, may all the people you envy have an even better one!

And still no word from Mark?, I mean Kalop, must be that next post he becomes a member rather than remaining a guest but I am not worried, i am sure he'll just pop up again with a new name.

that's me to a tee Sean hmm I don't think so, good to see you have a good sense of humour.. well done, I like it.

We should have more humour in serious topics.. In the spirit of christmas, all the best mate, the next person I meet in Poland with a name of Sean I will shout him a pint or two.

I hope the bacon is forthcoming.

I've no problem with that :)

That sounds good. Just drop off some Budweiser Budvar at my school in Gliwice, bolek :)

Wasn't me...

BINGO!

Well at least he is consistent, if nothing else apart from a multi user, trolling, spammer.

Thats a realistic assumption i dont think the drop will be as drastic as 20% and it will only apply to apartments located in cities of 60,000 population or more.

I wanted to add my 2 cents about the house in Florida comment. One of my Polish students borrowed 300,000 PLN against his house in Poland (worth about 1.2 million) and bought a vacation house in Florida in a golf development. His father already lives in that area in Florida so he helped with the house search and now with security but it shows that it is possible. It was last year when the dollar was really cheap.

I, too, was considering packing it in and returning to the States as Mark is considering. To tell you the truth, I was looking less at the price % drop in Poland and more at the zloty/dollar exchange rate. I gave up on the idea because the job situation in the US in pretty poor at the moment. And now that there is proposed 22% VAT on English lessons (my key business service), I'm thinking about it again.

$100,000 will go a hell of a long way in Florida right now, all those foreclosures and a lame market with masses of over supply (Orlando area). Its no surprise at all, thousands of Brits invested in that are and many havent been able to keep up with repayments either, i was actually offered 20% commission on new developments there back in 2007, just shows how desperate some developers are. The properties built are of terrible quality take a few years and a couple of hurricanes and youll be lucky to have even the floor left. Even without hurricanes the best developments look very dreary after a few years. Condos are very, very cheap.

But i believe the poster in question commented that he could buy beach front property in Florida, beach front is the most expensive, the East coast is millions for apartments let alone villas and the West is catching up fast. Id like to see links to beach front property for the price of small Krakow apartments as he suggested.

It's proposed, but I think it won't happen. PASE seem to be organisnig a hell of a campaign against it, and crucially, Gazeta Wyborcza is against it too.

$84,900 or 233,760 PLN or £52,000

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Looks flimsy!

I dont really get it.... how many people here want to live in a village?

So prices in villages will remain constant while in large cities will collapse down big time.

I also fully agree with this.

I do. You stay in your rented, communist block. This will give you time to save up for your 800PLN m2, brand new apartment.

Thats the query and answer right there.

Do what I do. I spend part of the time in my apt in the city and the rest in my house in the village. Best of both worlds.

kowalski2007, also known as, Emil Kowalski, Claituslux, popw, popwasser, Polsky, Specialpolak, special-Polak, Mcduff, Michaelas, Tadeusz2007, spimowitzss, mbiernat etc, etc

Apartment price rise?

7th December 2009

Prices in the residential market are stabilizing and a growing number of Poles appear willing to sign mortgage contracts again. According to the Polish Bank Association (ZBP), if the new supply is restricted, prices could start rising again following several months of decline. A

According to a report by the ZBP, there are still slight price declines in Warsaw, Kraków and £ódź, but prices in Katowice and Białystok have stabilized, while those in Wrocław, Gdańsk and Poznań have risen.

From Warsaw Business Journal

Lies, lies and more damn lies!!!!...A crash, a crash, my kingdom for a crash (with apologies to William Shakespeare)

you didnt provide any link.

and banks know that people buy only if prices are rising, so they lie nicely in order to give out big mortgages and make lots of money...

they give 200 000 pln mortgage, the idiot who takes the mortgage, pays 650 000 pln in time to pay up his mortgage...

Yea .....exactly i would like to see some proof about that..sounds like 1oo% ******** spread by developer trying to squeze out the last bit of suase out of their scam property bubble.

I don,t care what my house is worth...i don,t care what other peoples houses are worth...

7th December 2009
From Warsaw Business Journal

What part of the above did you not understand?

Depends on the interest rate and early repayment scheme, but tell you what provide a better way of buying a property and im all ears. Would you suggest paying rent your entire life?

Thats the silliest thing you could have said.

I would suggest that 99.9% of what he says is stupid.

There are thousands of other ways. But you have a bad attitude, why in the world would I tell you?

However it is clearly insane to pay 650 000 pln in whole your life for a PROPERTY THAT IS OWNED BY THE BANK and not by you, until you finish all your payments !

I'm all ears too, how do you suggest buying a property if you don't have a large amount of capital behind you and you don't wish to continue throwing good money after bad (also known as renting?), nor do you wish to stay with someone else?

winning the Lottey, theft, selling organs, working very hard and saving, asking friends for an interest free loan, investing in Polish real estate from 2001, inheritance, become an MP.

Theres 8 please give a few of the other 992+.


Its the cost of borrowing money me old mate a concept which you obviously dont understand, what do you expect interest free loans? If you owned the property for five years and had equity of say 30%, you could sell and pocket 60,000 PLN, does that sound a little bit better? or plough that profit into your nest property thus bringing down the monthly repayments.

I'm glad that I invested in two farms, forest, and arable farmland back in 2001. Flats, at that time, 'were' an excellent investment, but now flat prices are hovering somewhere in the twilight zone. Just had my Polish real estate (over 10 hectares of mostly forest, including some arable farmland, two farms - one totally rebuilt, the other still vacant and in original form) assessed at approximately 1,200,000 PLN, and that's being conservative. Can't complain about that when you consider my original investment back then.

Again, to those on this forum, please don't equate the term "Polish Real Estate" with only 'flats'. If you include forests, arable farm land, and small to mid-sized farms in the equation, then it paints a totally different picture.