Real Estate /
IS IT A GOOD TIME TO INVEST IN POLISH REAL ESTATE? [83]
:-) But I wonder, how someone on the other side of the globe, or even in another country, or even in another city can correctly choose correct
jwojcie good question and a simple answer, if there is anything you learn from this forum it is this, you buy in areas where the rich and elite type reside, generally buying rubbish and doing it up, a lot of ethnic groups only buy in certain areas, ie the Jew, Chinese (hong kong)
These areas then attract people who specifically want to live in a certain area thus pushing up prices..I think you have missed out in getting prize real estate in Poland as it has already been snapped up by bargain hunters and a lot of the older homes have been given back to its previous Jewish owners. The second consideration is buying near public transport, shops, schools, beach or mountain views.
With the current global situation,
nobody knows the future of the Polish Real Estate market, I personally believe it will not go down due to a under supply of housing and accommodation, it will go up in sort after pockets in the downtown areas but little movement in the country areas, mainly because of lack of employment and interest to outside investors.
One other thing to watch is government debt and now talk of reduction of funding to the medical system, if the government is in debt it will mean increase in
taxes which will be paid for by people already struggling to make ends meet.
There was a lot of money flowing into Poland from the UK/US/ Ireland, this has stopped due to the economic climate.
It may be a good time to look at all offers if you are interested in buying and be very fussy