Return PolishForums LIVE
  PolishForums Archive :
Archives - 2005-2009 / Real Estate  % width 258

15 reasons why the Polish real estate market will crash soon


bolek 6 | 330  
6 Dec 2009 /  #151
BOLEK!!!!! well done my friend

thanks for the award, I take it you mean the genius of the year award!!
SeanBM 35 | 5,808  
6 Dec 2009 /  #152
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.

I don't think people would find somebody saying something like the Irish influence in Poland would be offensive, and in fact there is a Irish influence in Poland ie Irish bars and Guinness beer..

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

I also own 2 properties in Krakow, and yes, prices are going down with speed :(

Still no word back from Kalop on my offer.
I wonder where could he be???
;)
bolek 6 | 330  
7 Dec 2009 /  #153
That is one of the worst backup examples I have ever read for someone being anti-Semitic.

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 .
SeanBM 35 | 5,808  
7 Dec 2009 /  #154
confirms my belief that no bacon for you this christmas,

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.
bolek 6 | 330  
7 Dec 2009 /  #155
I have met people like you Bolek, people who blame their failures on others..

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.
SeanBM 35 | 5,808  
7 Dec 2009 /  #156
the next person I meet in Poland with a name of Sean I will shout him a pint or two.

I've no problem with that :)
Seanus 15 | 19,706  
7 Dec 2009 /  #157
That sounds good. Just drop off some Budweiser Budvar at my school in Gliwice, bolek :)
The real Kalop  
7 Dec 2009 /  #158
Wasn't me...
SeanBM 35 | 5,808  
7 Dec 2009 /  #159
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.

BINGO!

Well at least he is consistent, if nothing else apart from a multi user, trolling, spammer.
Wroclaw Boy  
7 Dec 2009 /  #160
I live in Poland, I own property in Poland, I understand economics, I didnt miss the boat (bought two places in 2001 and 2002).

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.
ChrisPoland 2 | 123  
7 Dec 2009 /  #161
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.
Wroclaw Boy  
7 Dec 2009 /  #162
$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.
delphiandomine 88 | 18,455  
7 Dec 2009 /  #163
And now that there is proposed 22% VAT on English lessons (my key business service), I'm thinking about it again.

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.
Wroclaw Boy  
7 Dec 2009 /  #164
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

$84,900 or 233,760 PLN or £52,000



Popw  
8 Dec 2009 /  #166
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 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.
Avalon 4 | 1,068  
8 Dec 2009 /  #167
Popw

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

I do. You stay in your rented, communist block. This will give you time to save up for your 800PLN m2, brand new apartment.
Wroclaw Boy  
8 Dec 2009 /  #168
I dont really get it.... how many people here want to live in a village?

Thats the query and answer right there.
ChrisPoland 2 | 123  
8 Dec 2009 /  #169
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.
Avalon 4 | 1,068  
8 Dec 2009 /  #170
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)
Popw  
8 Dec 2009 /  #171
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...
rinty  
8 Dec 2009 /  #172
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.
wildrover 98 | 4,451  
8 Dec 2009 /  #173
I don,t care what my house is worth...i don,t care what other peoples houses are worth...
Avalon 4 | 1,068  
8 Dec 2009 /  #174
Popw

you didnt provide any link.

7th December 2009
From Warsaw Business Journal


What part of the above did you not understand?
Wroclaw Boy  
9 Dec 2009 /  #175
they give 200 000 pln mortgage, the idiot who takes the mortgage, pays 650 000 pln in time to pay up his mortgage...

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.
Avalon 4 | 1,068  
9 Dec 2009 /  #176
Wroclaw Boy

Thats the silliest thing you could have said.

I would suggest that 99.9% of what he says is stupid.
Popw  
9 Dec 2009 /  #177
they give 200 000 pln mortgage, the idiot who takes the mortgage, pays 650 000 pln in time to pay up his mortgage...

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 !
delphiandomine 88 | 18,455  
9 Dec 2009 /  #178
There are thousands of other ways. But you have a bad attitude, why in the world would I tell you?

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?
Wroclaw Boy  
9 Dec 2009 /  #179
There are thousands of other ways. But you have a bad attitude, why in the world would I tell you?

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+.

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 !

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.
scorpio 20 | 188  
9 Dec 2009 /  #180
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.

Archives - 2005-2009 / Real Estate / 15 reasons why the Polish real estate market will crash soonArchived