Real Estate /
The current property boom in Poland is a bubble [342]
we are actually neither. and we bought in 2009/2010.
I actually 75% disagree on that as some places are still selling for same or MORE,all mine were bought before 2008 and are commercial never paid over 6800pln a sq metre,was offered till 11000,and some the offer is still there(mainly cuz the neighbour wants to expand) and some are down to 9000.Practically in Poland one can hang around with even vacant property longer as the real estate taxes are negligible and chenze is affordable.Any way the crisis has just started and it will with my 20 yrs in real estate,it will level off in around 2015 and boom/bubble will start and will be at its peak in 2020,it infact is time to buy in the USA where the banks are choking(EG.last 4/5 years i stopped getting even 1 letter for credit card offer from 10/12 letters and now i get 4/6 letters with credit card offers).
I am looking for commercial places in Nowe Bemowo now where with my research I found the price range was vast from 4700 pln to 8200 pln depending on location,size,renter,condition,work needed etc.So far 13 years coming to Poland and buying I figure there is no hard and fast rule in prices just an approximate,and location.About residentials I dont pay much attention but I think same rule applies and most Poles and new investors tend to buy flats as investments and go through the hassle of renting to students after students and pay no taxes,thus more hard work and illegality,thats why so many flats to choose from,whereas commercials are usually sold to known peoples and rented by companies before some are even built.Lately fresh point(there smaller version Zabka) and carefour express is looking badly to open places 75 to 155 sq metre ones.
Property prices will go down more thats for sure but they will hit right back ofcourse in that decade and a half period of time,and if even if you bought it in bad time,so what live in it and will shoot up guranteed eventually.
