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Posts by peterweg  

Joined: 16 Feb 2007 / Male ♂ 		Last Post: 19 Jun 2020
Threads: Total: 37 / In This Archive: 22
Posts: Total: 2305 / In This Archive: 1651 		From: London, Battersea, Krakow.
Speaks Polish?: no
Interests: Motorbikes, Skiing

Displayed posts: 1673 / page 42 of 56
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peterweg   
7 Nov 2011
Real Estate / Banks in Poland selling fewer mortgages in 2011, down 49% [285]

The shadow economy is well documented in Poland and is maybe 29% (World Bank) or 12% (GUS) but probably somewhere between. However these earnings do not have much effect on the housing market - they are concentrated at the bottom end where people are young and floating around (farm work, restaurant work, building work) and at the top end (drug dealers, pimps, bent politicians) where people would probably pay for their McMansions in cash.

For comparison its 15% in the UK and about 30% in Italy, although by definition its all an estimate. I'd question whether criminals can buy property for cash, you have to prove where the money came from.
peterweg   
7 Nov 2011
Food / Where to buy inexpensive coconut oil in Poland? [7]

Have you tried here?

kuchnieswiata.com.pl/ang/store.html

Could you use the coconut cream and fry out the oil? Thats the Thai method.

Coconut cream is also available in Alma. almamarket.pl

You can also try here, but its expensive, as is shipping.

spicesofindia.co.uk/acatalog/Oils-and-Ghee-Items-21-30.html

You should also accept that coconut oil is not cheap when its shipped to Europe and use alternatives.
peterweg   
7 Nov 2011
Real Estate / Banks in Poland selling fewer mortgages in 2011, down 49% [285]

3 x salary = 259,200pln,

Which is six time average earnings. and would buy you 37m2 at krakow's average price of 6.8K/m2. Polish interest rates are quite high arn't they? and 37m2 is just about enough for a couple to survive in but they will probably need a 40 year mortgage.

If they wanted to push the boat out and get what would be considered a starter home, say 70m with two bedrooms you are looking at 476K and 11x average earnings.

Sure, they are ways around all this, but theses are the definitions of affordability based on average numbers, average people with aver gage sized bodies.

There is no way living in Polands cities is affordable unless you are gifted money or property - which is why prices are falling even when wages are rising.

Living outside the cities, at present, is impossible if you want a job in the city due to terrible infrastructure. Once there are motorways that will change.
peterweg   
6 Nov 2011
Real Estate / Banks in Poland selling fewer mortgages in 2011, down 49% [285]

Most governments are stupid but they are not suicidal, they are certainly not going to impose a property tax of 50% or anywhere near it.

When governments give you a property tax of 50% (of the rental income/mortgage)

If you get 4% property tax and your yield is 8% then the government is basically taxing you at 50%.

You really should learn to read and think for a moment before commenting.

Prices now are about two and a half times more than when I bought but wages are also higher than they were ten years ago. I know plenty of people in Warsaw who have flats and mortgages: they manage to pay their mortgages every month, why can't other people?

That glosses over that fact that with prices 10 average earnings people need to take a 40 or 50 year mortgage to buy. How many times your wage did your apartment cost and how much deposit did you put down?
peterweg   
6 Nov 2011
Real Estate / Banks in Poland selling fewer mortgages in 2011, down 49% [285]

This from a man who braggs about owning a farm (with lots of land), a flat in Poland and another flat in London (worth 300,000 GBP and can be rented for 1,000GBP). I suppose you were not born at the right time, you won these things in a lucky bag. The word "hypocrite" springs to mind.

I don't own the flat. I've never owned property until two years ago. Even if I did, you missed the point, completely, again.

I could not buy that flat, in in thirty years, never-mind in ten. Nobody who is leaving school in the UK today will be able to buy property in ten years with simply hard work becuase the prices are ridiculous. The house price to average wage ration in Polish cities is ever worse than the UK.

Harry was lucky to buy when prices were affordable over ten years ago and calling 'young people of today' lazy becuase its now impossible indeed makes him a smug, lucky bastard. He constantly slags Milky off for being an unemployed layabout and therefore unable to buy a home.

Well, the best advice I can give to someone leaving school in the UK today would be; get a university degree with a loan and either a) bum about doing low paying jobs, travel the world have fun, or b) emigrate and never return to the UK.

The very worst option is to try and become a wage slave, save for 20 years for a deposit so you can just about own a house when you retire, (which will be worth pretty much what it originally cost in real terms). You have to be mad to commit yourself to a life of paying for my generations (the boomers) comfortable retirement.

This refers to the UK, but people like Harry are the same all over. They have to realise that there are other options, like.. leaving. When governments give you a property tax of 50% (of the rental income/mortgage), its not tenants who end up paying and when you combine this you end up with falling house prices.

School leavers today should memorise the words 'Go F*** yourself' for use against anyone who suggests a career, mortgage and indefinite servitude. Become a bum, loot and rob from the rich bastards with houses, they owe you. When they die you can inherit the house and become unproductive property owner.

must be a shytehole at that price..;)

Shitholes go for 250K in London, £300k gets you a 40m2 flat in Battersea.
peterweg   
4 Nov 2011
Real Estate / Banks in Poland selling fewer mortgages in 2011, down 49% [285]

And if one rents, there is simply no way at all that the landlord will pass that property tax on to his tenants, is there.

You live in your property, so you pay it. And there is a limit what a tenant or owner can pay, so it reduces the valuation and returns of property.

The subject being discussed is a "property tax", how the hell has this got anything to do with income tax?.

Its taxation, as I said I prefer income tax over property tax.

Work hard so you can earn decent money and you can pay for your flat in under ten years: I did.

I'm not special. I just worked hard to get where I am now. If other people simply can't be bothered to do the same, I don't want to hear them whining about their lot.

No, you were lucky to have bought before prices skyrocked. No matter how hard they work, buying a flat in under ten, twenty or thirty years is impossible for an average couple with todays prices at 10x average earnings.

You are not 'hard working' but a lucky, smug git who was gifted a opportunity by virtue of being born at the right time. Fair enough but poking fun at the younger generation who cannot afford to buy is nasty.
peterweg   
4 Nov 2011
Real Estate / Banks in Poland selling fewer mortgages in 2011, down 49% [285]

Surely you mean "community charge", are you getting confused again?

No you are confused, why would I say community charge? Property/wealth tax is really an alternative to income tax. With income tax at least you have an income to pay the tax.

Here is a more detailed explanation of the cut back in credit in Poland

ftalphaville.ft.com/blog/2011/11/04/727401/honey-i-shrunk-emerging-europe

Work hard so you can earn decent money and you can pay for your flat in under ten years: I did.

You bought when prices were very low didn't you?

Yes Mark, renting is such a good idea: because after 20 to 30 years you have nothing; while if you buy, after 10 to 30 years you have a valuable asset. I wish I had carried on renting instead of buying my own flat.

With a property tax you basically don't own the property in 20 or 30 years or a hundred, its will weigh you down for ever with effectively a perpetual mortgage.

But its easy to make cheap snipes at the poor isn't it?
peterweg   
4 Nov 2011
Law / The Age Old Question: Am I a Polish Citizen? (now American) [11]

Looks like you need to find his military records before you apply.

Whats the situation with all the Poles who settled in the UK after the war? Don't think my dad ever became nationalised in the UK. Am I a citizen?
peterweg   
4 Nov 2011
Real Estate / Banks in Poland selling fewer mortgages in 2011, down 49% [285]

This is not possible.

Why is it not possible? For instance, spain has a wealth tax, you pay a percentage of your worldwide holdings. In the US you pay about 2.5% in Florida (Highest rate is 4% in New Hampshire) per year on the value of the property. Similar in Canada, I believe.

Existing net wealth/worth taxes

France: A progressive rate from 0 to 1.8% of net assets. In 2006 out of €287 billion "general government" receipts, €3.68 billion was collected as wealth tax. See Solidarity tax on wealth.
Switzerland: A progressive wealth tax with a maximum of around 1.5% may be levied on net assets.[2] The exact amount varies between cantons.
Liechtenstein
Netherlands: Interest income is taxed like a wealth tax, i.e. a fixed 30% out of an assumed yield of 4% is a rate of 1.2%. See Income tax in the Netherlands.
Norway: Up to 0.7% (municipal) and 0.4% (national) a total of 1,1% levied on net assets exceeding NOK. 700,000.
India: Wealth tax is 1% on wealth exceeding Rs 30,00,000. However, non-residents returning to India are given exemption for seven years.

secure.wikimedia.org/wikipedia/en/wiki/Wealth_tax#Property_tax

10% is impossible though, I doubt anyone in Poland could afford that.
peterweg   
4 Nov 2011
Real Estate / Banks in Poland selling fewer mortgages in 2011, down 49% [285]

In Which case, what is being built at the moment may be the last for some time. But, how long can the banks survive on clients monthy fees for their accounts?

For ever, they can just jack it up as its a captive market.
peterweg   
3 Nov 2011
UK, Ireland / Moving cost from UK to Poland (Gdansk) - Anyone heard of IMove International? [16]

rail.dbschenker.pl/site/shared/en/file__attachements/information__material/stinnes/dbschenker__rail__polskafreight__rates.pdf

It seems to indicate that 2000km costs something north of 550PLN per tonne. Based on coal, that is.

Thanks guys.... and I don't want to put any coles in the fire but I am acutally really excited about moving to Poland. So, no negative feelings here!

Please tell us what they quote, would be useful to know.
peterweg   
3 Nov 2011
UK, Ireland / What do you like about living in Britain? [134]

the problem is that Poland doesn't even seem to understand the concept of ready meals.

Why should they? its pointless. I can slap a Chinese/india/Thai meal together in ten minutes and it will be tens times better than chilled crap.
peterweg   
3 Nov 2011
UK, Ireland / Is moving to UK now a good idea? - antipolish prejudice of the Brits [231]

My dad blamed hated Hitler and Stalin, but the UK? no, he was well aware how powerless Britain was (he told me how Stalin and Roosevelt mocked Churchill). It seems to be forgotten that after the war the UK was bankrupt and on the point of starvation. It handed over its wealth and what remain of the Empire to the US. His choice of staying in the UK was a good one for him and our family and I don't think any of the Poles who actually fought form the British will agree that the UK really owes Poland financial repayments. Respect and gratitude, certainly.
peterweg   
3 Nov 2011
Life / Electric rate (Tauron charges per kilowatt hour) in Krakow [9]

Could you give me the numbers, becuase neither my wife or I can understand our bill.

edit, ah, there are multiple tariffs. That website doesn't show the numbers if you access it from a mobile device. I hate it when website developers decide to check your browser and give you a different website becuase you are using a Tablet.
peterweg   
2 Nov 2011
News / First Rail Freight Service On High Speed One between London and Wroclaw every week [5]

First Rail Freight Service On High Speed One To Be Launched By DB Schenker

Trading links between Poland and the UK are to be strengthened during November with the introduction of regular European sized rail freight services by DB Schenker Rail.

One train per week will operate between Wroclaw, in Poland, and Barking, London, in the UK. Demand from customers has been high resulting in strong orders for the new service being received from the automotive, retail and food sectors. The first train will depart Poland on the evening of 08 November arriving into the UK in the early hours of 11 November. The train will leave the UK the same day to transport goods to Poland on the return journey.

rail.co/2011/10/25/first-rail-freight-service-on-high-speed-1-to-be-launched-by-db-schenker-rail-in-november/

The first train will depart Poland on the evening of 08 November arriving into the UK in the early hours of 11 November. The train will leave the UK the same day to transport goods to Poland on the return journey.

The service will be the first regular rail freight service to use therail route, the only European sized railway in the UK. As a result, the train will be loaded with European sized curtain sided swap bodies. The significantly larger haulage capacity available from these swap bodies, with an internal height of three meters, means two standard pallets can be transported stacked on top of each other. This provides an efficient and economic means of transporting the maximum amount of product per train.

logisticsweek.com/rail/2011/10/first-rail-freight-service-on-high-speed-one-to-be-launched-by-db-schenker/
peterweg   
31 Oct 2011
Real Estate / Banks in Poland selling fewer mortgages in 2011, down 49% [285]

People can slow down the deflation by arguing against the tide, in order to sell off their growing surplus,quite obvious, actually.

Don't be ridiculous, nobody changes their mind after reading this sort of crap one way or another. Property prices are predictable, they go up and down consistently over long time periods, when they stop falling or rising, you will know.

Its not like the stock market which is governed by a galloping herd with the IQ of a peanut.

The "tide" of "one" ?, thats made my day.

The tide is falling prices, so he is right.
peterweg   
31 Oct 2011
Real Estate / Banks in Poland selling fewer mortgages in 2011, down 49% [285]

Poland has a population which is 2/3rds that of the UK, but, it has a much older/poorer quality, housing stock. Whilst I disagree with Paxman on much of the artical, his comments on housing and affordability are unfortunately, very truthful.

Poland is quite different from the UK, UK has an older population who will want to trade down over time. Poland population die younger. It also sufferers from emigration not immigration. In Poland much of the older generation seems to have been given housing which they now own and there fore have savings to invest and assets to borrow against. You are also right that Poland, more than most other countries needs more stock.

However, these are longer (medium?) term trends, for now prices are not going up. The world banking crisis/Great Depression II is more of an influence.

^ "since 2007?" That seems to confuse the issue more than anything if the talk is about the trend this year...

Look at the trend on the chart yourself, its down everywhere, there is no debate on that.
peterweg   
30 Oct 2011
Real Estate / Banks in Poland selling fewer mortgages in 2011, down 49% [285]

any recent numbers to add to either camp's case?

Yes, in Pip's link.

media.reas.pl/file/mediakit/351422/22/reas-residential-market-in-poland-q3-2011.pdf

Since 2007:

Page 2 , Dwelling 'delivered' down around 50%. Stock of new unsold apartments up 500% to 50K
Page 3, Falls per m2 vary wildly -
Wroclaw down 26%.
Warsaw down 11.2%.
Krakow down 8.6%

The perception of a bubble and a crash would depend on exactly which region you are looking at.
peterweg   
28 Oct 2011
Real Estate / Banks in Poland selling fewer mortgages in 2011, down 49% [285]

that should be good reading.

I'd say . The crash is buildings delivered is startling. -50% from peak?

- Falls in Krakow are competitively less than other areas on a price per m2 basis. Wroclaw.. wow.
peterweg   
26 Oct 2011
Life / Lightbulbs in Poland: what was once 1zl now costs... [10]

Enegry-save bulbs need to big energy to start and to get warm enough to operate cost-effective as far as I know.

its only going to be an issue if you switch on and off for a few seconds. Big energy is relative; still not as much as a normal lightbulb operating

Based on the amount of energy consumed turning on the bulb, they were able calculated how long the bulb would have to be turned off in order to make it worth the energy savings, i.e. "It's best to turn off the bulb if you are leaving the room for":

Incandescent: 0.36 seconds
CFL: 0.015 seconds
Halogen: .51 seconds
LED: 1.28 seconds
Fluorescent: 23.3 seconds

In other words, its almost always best to turn the bulb off. Even the 23 seconds for the fluorescent lights isn't very long, and the rest of the times are pretty much blinks of an eye.

peterweg   
26 Oct 2011
Life / Lightbulbs in Poland: what was once 1zl now costs... [10]

thanks to the eu lightbulbs have gone down in wattage and up in price.

The cost of a light bulb is not the purchase price but the cost of using it over its life time. The Eu have banned inefficent lightbulbs that cost several times as much and last 1/5 the time.

I used them tasting the Europe and I think it is diversion. To read less (yes I have heard that it gives the same light as regular old ones, I am not that suggestible) ;) Anyway it is mostly Union dominated by Germans and Germans like sparen.

Ah, such wonderful logic. What are you trying to say.