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

15 reasons why the Polish real estate market will crash soon


SeanBM 35 | 5,808  
15 Dec 2009 /  #211
popw,

I don't know if we will hear from him in his popw form, as he might then be forced to become a member of these forums.

He might have one or two posts left before this happens but following his Modus operandi, he is more likely to reject your post using the opinion of yet another new alias with no backup.

Do you enjoy being thought of as a moron?

I suppose the question is now, do we enjoy entertaining the moron? :)
Avalon 4 | 1,068  
15 Dec 2009 /  #212
SeanBM

Every time he updates the thread, it gives us an excuse to print the facts/truth and makes him look even more stupid. I am retired, I have all the time in the world.
Popw  
15 Dec 2009 /  #213
OMG... the only one looking extremely idiot is Avalon, a disgust for human race... a greedy developer who has nothing else to do all day than to posy idiotic racist insults and idiotic statements on and on
Avalon 4 | 1,068  
15 Dec 2009 /  #214
Racist?, are you black as well as stupid?
f stop 25 | 2,513  
15 Dec 2009 /  #215
It's interesting to see how angry everyone is getting at anyone that predicts a crash.
Avalon 4 | 1,068  
15 Dec 2009 /  #216
f stop

It's interesting to see how angry everyone is getting at anyone that predicts a crash.

Who is getting angry?.......there is only one person (using about 20 different names) who is predicting a crash. This person has not offered one shred of proof or facts. The information he has provided to back up his claim is from 2007-2008 and about 18 months old.

If you agree with him then you are welcome to join in the discussion and perhaps you may like to enlighten the people who are actually involved with property or have an interest in it.

By the way, this person has gone from 1500 PLN m2 to 6000 PLn m2 in the space of 3 weeks, are you suggesting he is of a sound mind?
f stop 25 | 2,513  
15 Dec 2009 /  #217
I also believe that the prices of real estate will fall, signifficantly, in next 3-5 years. I was reluctant to say anything because I didn't want a fight, or waste time with endless googling for the numbers and statistics... I know you guys can burry me with your facts, while I mostly have just a gut feeling and PTSD (post traumatic stress disorder). The prices went up too fast, too much, and I don't think the economy is as good as all the Polish publications I'm getting would like me to believe.

I weathered my own real estate crash pretty well here, in both Florida and in Caribbean where I own properties, probably because I am not that couragious, but I remember people calling me a fool for not taking all my equity out and reinvesting. When I would ask them what will happen if the prices go down, they would get mad, even though they could not themselves believe how much people were willing to pay.

Now, that is just my opinion, and as much as I would like to look for something to buy in Poland right now, I'll just wait a couple of years.
shabba  
15 Dec 2009 /  #218
It's interesting to see how angry everyone is getting at anyone that predicts a crash.

haha, thats of course a fair statement :)

but surely you can imagine how you would feel having spent lots of money on something that just plumited in value?

wheres your caribbean property if i may ask?
Avalon 4 | 1,068  
15 Dec 2009 /  #219
f stop

I weathered my own real estate crash pretty well here, in both Florida and in Caribbean where I own properties

And which part of Poland are these in?
f stop 25 | 2,513  
15 Dec 2009 /  #220
In Florida, the whole housing bubble was a crazy ride. At one time, the value of my house quadrupled, and even though I wished I sold, the reality is that I would have turned around and invested in something even more expensive and be in deep sht now. As it is, the house is still worth twice what I paid for it 10 years ago, but only because it is close to the beach.

The Caribbean property (a little lot with million dollar views) is on Eleuthera. It gives us the excuse to visit every year (the best island in the world, IMHO), prestige of island property owners and an incentive (I hoped) for my son to learn how to build a freaking hut. Ha!

The summer, especially August, is pure hell both in Florida and on Eleuthera, that's why I started looking around for something with the cooler weather for summer months. Plus, I'm getting somewhat nostalgic for Poland. I guess I have to make the trip there again soon, that will probably cure me. I don't think I can move back permanently since I hate cold weather, but maybe spending summers there is a possibility.
wildrover 98 | 4,451  
15 Dec 2009 /  #221
Can i just say.... i don,t give a toss what anyones house is worth....including mine...
andrewwright 8 | 65  
15 Dec 2009 /  #222
Can someone please put the (15 reasons why the polish real estate market will crash soon)
down in 1 to 15 for me so i dont have to keep reading through,:-)
Avalon 4 | 1,068  
15 Dec 2009 /  #223
The only person who can give you the 15 reasons posts under the following names:-

Emil Kowalski, Claituslux, popw, popwasser, Polsky, Specialpolak, special-Polak, Mcduff, Michaelas, Tadeausz2007, spimowitzss, mbiernat, kalop etc, etc

If you can get a sensible answer out of him, let the rest of us know.
wildrover 98 | 4,451  
15 Dec 2009 /  #224
Can someone please put the (15 reasons why the polish real estate market will crash soon)

1.. the weather in Russia

2..the price of fish in iceland

3...the height of the zloty

4...the number of Tibetan people in Gdansk

5...the cost of soap powder in UK

6...the price of dodgy women on Polish roadsides

7...the number of people with too much time on their hands

8...the lack of interest in Heinz beans by Polish people

9...the silly shoes the president of Brazil wears

10...the cost of a ticket to a sex show in Berlin

11...the funny smell coming from my socks

12...my friend Magda,s strange fetish for carrier bags

13...peverted habbits of carp fish

14...Polish roads

15...a funny noise coming from the back of my car on wednesdays

hope this helps...?
f stop 25 | 2,513  
15 Dec 2009 /  #225
I don't have 15 reasons , but here is one: I can imagine a scenario where the masses decide that that buying a house or a piece of land is not a good idea (call me paranoid), then the market will crash. I think it's that fickle. It doesn't matter how good of a deal you got if nobody's buying.
Avalon 4 | 1,068  
16 Dec 2009 /  #226
So you admit to buying your own properties but you think everyone else should rent?

That sounds like a very serious, well thought out idea. A very American concept.
f stop 25 | 2,513  
16 Dec 2009 /  #227
What? Rent? What are you talking about? I just gave one possible scenario for market crashing.
Oh nevermind.
Avalon 4 | 1,068  
16 Dec 2009 /  #228
f stop

"the masses decide that that buying a house or a piece of land is not a good idea"

In case my comment confused you, I will ask the question a different way.

Where are the masses going to live if they do not buy property or land?

Not a hard question really.
SeanBM 35 | 5,808  
16 Dec 2009 /  #229
I also believe that the prices of real estate will fall, signifficantly, in next 3-5 years. I was reluctant to say anything because I didn't want a fight, or waste time with endless googling for the numbers and statistics...

Okay, fair enough, you have an opinion.
Have you ever bought or sold any real estate in Poland?
In other words, do you know anything about the Polish real estate market?

The reason I get annoyed on these threads is not because someone is predicting a crash, everyone is entitled to their opinion, but what gets on my nerves is this spamming obsessed fanatic who misleads people by screaming crash using goodness knows how many user names. That and only that is annoying, the abuse of these forums.

taking all my equity out and reinvesting.

I do not recommend that to anyone, ever. Spreading it too thinly is too weak for any continuously fluctuating market.

Where are the masses going to live if they do not buy property or land?

I have a flat to let that they can pay my mortgage in :)
f stop 25 | 2,513  
16 Dec 2009 /  #230
Avalon
with your condescending tone, you can just go and talk to yourself.
Not a hard concept, really.

SeanBM
No, I have not done any selling or buying in Poland, but my father and slew of first cousins are active in the Polish real estate market. Unfortunately, all their advice seems to be "I should have waited" - mostly to sell, but lately to buy.
SeanBM 35 | 5,808  
16 Dec 2009 /  #231
all their advice seems to be "I should have waited" - mostly to sell, but lately to buy.

I would say this, the days of buying an apartment here and sitting on it for a few years and making a bundle are gone.

I personally think it is a long term investment, 20/30 years you are looking at now and only if you have a personal interest in Poland.

You have indicated a preference for Polish summers, so in that case I would suggest a student rental, near the universities with good transport services, the students usually leave during the summers, allowing you to stay.

Don't expect great returns as the market plods along. Although you'd have to think about how students would treat the place, try to get students in their final year, they are more serious and party less (hopefully).

One of the things that needs to change here in Poland (and all other ex-communist countries from what I can tell), is the state in which you buy a new property.

I am not sure if you are aware that newbuilds are unfinished, grey shells. That means, no paint on the walls or ceiling, no flooring, no Kitchen and depending on the development, no doors, nothing in the bathrooms, no lights, nothing...

You have to finish everything yourself or get a company to do it for you.
It still has not sunk in to the mass mentality here that if a developer buys 300 toilets and has them fitted, it is cheaper than the for the individual buyer.

I think this should change, even if it doesn't, it should ;)
As this obviously adds time and money to the apartment and is generally a pain in the rear.
f stop 25 | 2,513  
16 Dec 2009 /  #232
SeanBM
That is some very helpful advice. I really appreciate it.
Student flat! Genious!
I plan to travel to Poland this summer, bringing my son with me. Student, as well, albeit a part-timer. He doesn't speak a lick of Polish, but I have a feeling he'll fall in love with Polish girls.
SeanBM 35 | 5,808  
16 Dec 2009 /  #233
I have a feeling he'll fall in love with Polish girls.

That is for certain :)
You must teach him "Kocham cie" :)
f stop 25 | 2,513  
16 Dec 2009 /  #234
SeanBM
Kocham cię I think he knows already. :)

So, what cities have established, sizable universities where students have difficulties renting flats? Just from reading this forum, I think I'll skip Warsaw (even though that's my town) and Krakow for now.

My aunt has an apartment in Kielce, that I just realized she constantly rents to students! Now I'll have something to talk about with her.

Any other cities you can suggest I could start researching already?
Harry  
16 Dec 2009 /  #235
Any other cities you can suggest I could start researching already?

Torun has a big student population and is a nice place. Gdansk is another place well worth thinking about too.
f stop 25 | 2,513  
16 Dec 2009 /  #236
Toruń
Gdańsk
Got it. Thanks!

another stupid question: what are the cultural and economic differences between eastern and western Poland, if any? Few friends visited couple of months ago, and I don't know what were they trying to say. One lives in the west side, and even though he conceded that Germans were clean, focused and ambitious, there was something he was clearly unhappy (or maybe apologetic) about. I don't think it was the WWII bs, he is too young for that. I wish I paid attention. When I was in Poland I didn't pay attention to that stuff then either, I was a Warsaw snob. I don't want to insult anyone here, but I really want to know what the general differences are, if any.

Snap.. is this a hijack?
Ewa112  
17 Dec 2009 /  #237
fstop, Poland is freezing COLD 8 months per year. Minus 30 and minus 35 degrees Celsius
are commonplace here in Krakow for example.

Prices in Krakow real estate still surpass those of Berlin and Wien which is insane.

Wait a while, you will buy at HALF price everything you want
delphiandomine 88 | 18,455  
17 Dec 2009 /  #238
fstop, Poland is freezing COLD 8 months per year. Minus 30 and minus 35 degrees Celsius
are commonplace here in Krakow for example.

Another username, Mark?

-30 is not commonplace at all - in fact, seeing -10 is quite rare. Summer tempatures stay above 20c for several months.
derek trotter 10 | 203  
17 Dec 2009 /  #239
It looks like some of you guys will lose money in Poland. This thread is so hot nearly as one about Jews. You wish not to but you can't change reality, definetly not without magic wand. Prices will drop down.
Avalon 4 | 1,068  
17 Dec 2009 /  #240
I bow to your superior knowledge, perhaps you should write to this company and warn them that they are making a huge mistake as there will obviously be no demand for these properties. They are clearly wrong to attemp a project such as in the present climate and ought to have done their homework first. Perhaps you should advise them by suggesting that they wait until the other 3,000.000. apartments/homes are sold which already lie empty and waiting for buyers.

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