peterweg
14 Mar 2013
Real Estate / Poland's apartment prices continue to fall [1844]
Poland property: have we seen the bottom?
Spot the obvious anomaly, wages have risen about 25% since 2006.
Poland property: have we seen the bottom?
It's hard to get consumers to ramp up spending when residential property prices are slumping - the wealth effect drags down spending, as economies ranging from Spain and Ireland to the US have found in recent years.
Poland has been hit by the same phenomenon - one of the many reasons that retail spending has slumped, helping drag down the country's economic performance. Polish residential real estate prices have been steadily falling for five years - but that trend may now be changing.
Poland has been hit by the same phenomenon - one of the many reasons that retail spending has slumped, helping drag down the country's economic performance. Polish residential real estate prices have been steadily falling for five years - but that trend may now be changing.
prices per square metre are about where they were in 2006
the average monthly salary could buy 0.34 of a square metre of property; now the average salary buys 0.54 square metres, the highest level since 2006.
Spot the obvious anomaly, wages have risen about 25% since 2006.