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Posts by InWroclaw  

Joined: 10 Mar 2012 / Male ♂ 		Last Post: 7 Mar 2015
Threads: Total: 89 / In This Archive: 80
Posts: Total: 1910 / In This Archive: 1693 		From: Wroclaw
Speaks Polish?: No

Displayed posts: 1773 / page 51 of 60
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InWroclaw   
16 Jul 2012
Real Estate / Poland's apartment prices continue to fall [1844]

edited because it will just offend people and I don't want to

I don't know anything at all about this website, but it carries this story headline in English:

Upcoming tsunami on the property market

freepl.info/2613-upcoming-tsunami-property-market

Over one third of mortgages exceed credited properties value, and amount to over hundred billion zlotys in total- estimates Polish National Bank. It is worrying sign. Polish banks are unprepared - from both: from financial as well as from legal point of view - to face a situation when creditors stop paying installments and their properties' values do not cover the mortgage.

In booming times banks easily granted credits above the property market value, and the creditors used the exceeding amount to furnish the property and cover related legal costs. For banks property security was property itself in regard to prices' increase....

That's a hundred words, Harry ;o)
InWroclaw   
16 Jul 2012
Real Estate / Poland's apartment prices continue to fall [1844]

Well I got to 2 - 266 and 284 but there must be more, unfortunately I have work to do !

Rather than worry about what people did or didn't say or imply and spending your time searching that out, could you please see if you can find the link to the dropping prices article in GW? They seem to have substituted the 'feeling the pinch' story for one about investors in Polish property which does not have the figures you quoted. If the 'feeling the pinch' story has totally vanished, one has to ask why did they remove it?
InWroclaw   
16 Jul 2012
Real Estate / Poland's apartment prices continue to fall [1844]

Nobody picked up on yesterday's Gazeta Wyborcza article showing not only good data on falling asking prices.

Thank you for posting another tip off about newspapers indicating falling prices, it's appreciated! I couldn't find it, an article with a likely title led to a story about investors buying property in Poland

But this article, about developers "quickly slashing" their prices, I did find:

Google translation: The prices at which transactions are ultimately in the case of two-bedroom apartments are on the lower prices of offers to sell an average of 13.85 percent. - mówi Bernard Waszczyk z Open Finance . - Says Bernard Waszczyk of Open Finance . - Najmniejsze różnice zanotowaliśmy, podobnie jak w poprzednich miesiącach, w segmencie mieszkań trzypokojowych - 9,47 proc. - The smallest differences were recorded, as in previous months, three-bedroom apartments in the segment - 9.47 percent. Osoby przymierzające się do zakupu kawalerki albo dużego mieszkania, liczącego co najmniej cztery pokoje, także mogą liczyć, że wytargują średnio ok. 12-13 proc. People trying on the purchase of studio or a large apartment, which consists of at least four rooms, also may expect that wytargują average about 12-13 percent. - dodaje ten analityk. - Adds the analyst.

There is a link in the GW 'Economy' section translated to English as "Polish real estate market feeling the pinch"

In the first half of 2012 . The real estate market in Central and Eastern Europe concluded investment transactions totaling nearly 2.1 billion euros, of which Poland accounted for up to 854 million - announced advisory firm CBRE. The largest contract in the region was the sale of ING Real Estate Development Warsaw Golden Terraces shopping center . AXA Real Estate and CBRE Property Fund Central Europe paid for 475 million euros.

- but it loads the investors story described above if clicked.
InWroclaw   
15 Jul 2012
Life / Is it McPoland? [63]

or a certain very well-known pizza chain

Join the club. I never go there now, ever. I go to McD once every month or two and it's a convenient change. There is some very nice Polish "fast" food here in Wroclaw but also a growing alternative take away market of Vietnamese cuisine, Chinese cuisine, Indian cuisine etc. Some of them are quite good. My main concern is to avoid E621 which is found a lot in take aways of all kinds because it's a flavouring short cut.
InWroclaw   
15 Jul 2012
News / Could be in prison for 10 years for trying to bribe the Polish traffic police [39]

So your government are changing you into scared little slaves, not willing to take any risks,

Public roads are not for risks of any kind. Little Tomir or Agnes have a right to a future as they are transported to their school, free of the worry or actual danger of any risk from some berk who thinks it's cool to drive at speed away from a purpose-built racetrack just because Pan Policja is not in the rear view mirror.

What is more important, safety or freedom??! Answer me that!

If a person becomes a road casualty, they won't be around to fight for, or enjoy, any freedom.

as for the A127 in Essex, that is a fecker of a road and has that limit for a good reason.

It sure is.
InWroclaw   
15 Jul 2012
News / Could be in prison for 10 years for trying to bribe the Polish traffic police [39]

So, Britan has no freedom whasoever. Are you proud of it?

Freedom for pedestrians and cyclists not to be run over by idiots who think they're at Silverstone, yes I am.

Think yourself lucky you're not getting 15kph limits, the UK is to get 20mph limits implemented more widely..

English councils are to be given more freedom to introduce 20mph speed limits under proposals to improve road safety.

They would also be given more power to use variable speed limits outside schools under draft guidance issued by the Department for Transport (DfT).

bbc.co.uk/news/uk-18840110
InWroclaw   
15 Jul 2012
News / Could be in prison for 10 years for trying to bribe the Polish traffic police [39]

The problem being, the speed limits are ridicules. It should be at least doubled. Then I'd be willing at least to consider it. As it is now, when seeing 50kmh limit on two lane road, I just mutter "They got to be kidding" and ignore it.

In Britain, you'll find a 30mph limit (slightly lower than 50 km ph) on many two-lane roads ("dual carriageways") in built up areas, Where the lamp posts are close together, you are also supposed to know it means 30mph. Such roads are often covered by speed cameras and more recently average speed cameras which measure your vehicle speed between extended distances so you cannot just slow down for the speed camera (foto radar). In Essex, there is now a stretch of about 15 miles with a top speed of 50mph on a dual carriageway (the A127). It could be more than 15 miles, I'm not sure. It has average speed cameras all along it, reading registration plates. That then becomes 30mph as it nears the built up areas and you have cameras all along.

If anything, because of the poor state of Polish roads in some cities and towns, the speed limits should be reduced. 40 km ph around Wroclaw's side streets would be fast enough all things considered. On the main arteries that are straight and pedestrians and hazards are easier to perceive, perhaps keep the 50 km ph.
InWroclaw   
15 Jul 2012
News / Could be in prison for 10 years for trying to bribe the Polish traffic police [39]

wroclaw.gazeta.pl/wroclaw/1,35771,12130236,Myslal__ze_za_sto_zlotych_policjanci_nie_zauwaza.html

The driver was driving too fast. It's alleged the 40-year-old offered the police 100 zł to release him. He was arrested and taken into custody. He faces up to 10 years in prison.

The roads here in Wroclaw suffer from many a dodgy driver. If those same motorists come over to the UK, they'll have to change their driving style considerably around our towns and cities.
InWroclaw   
13 Jul 2012
Real Estate / Poland's apartment prices continue to fall [1844]

I think you will find that these are "civil engineering" firms.

... I haven't a comprehensive list of who is who, but PBG (as mentioned in the article above*) do have a residential construction division ...

...
Sports facilities
high-rise buildings
Flats
Houses
Shopping
Salons ...

*"Poland could support insolvent builder PBG via PLN 385 million"
InWroclaw   
13 Jul 2012
Real Estate / Poland's apartment prices continue to fall [1844]

I hope they don't cut them at all, autumn is no good either.

By coincidence on what I was saying above regarding summer lulls - Gazeta Wyborca Wroc is saying prices have fallen. This is an online translation of a small extract of the article. Not sure if we're allowed to post in excess of this length from a copyright source and machine translating is not something I like to rely on.

In recent weeks, the real estate market attracted only a very attractive offers. An increasing number of apartments on offer and continually declining demand create huge competition between owners wishing to sell their property.

from W ostatnich tygodniach rynek nieruchomości przyciągał jedynie bardzo atrakcyjnymi ofertami. Coraz więcej mieszkań w ofercie i nieustannie malejący popyt tworzą ogromną konkurencję między właścicielami chcącymi sprzedać swoje nieruchomości.

Source and more...
wroclaw.gazeta.pl/wroclaw/1,95327,12124445,Latem_ceny_zakupu_i_wynajmu_mieszkan_sa_nizsze.html#ixzz20W8Jo8r6

It also mentions (if the online translator is correct) prices down 10-15% on negotiation for sales, and 20% down for rentals.
InWroclaw   
13 Jul 2012
Real Estate / Poland's apartment prices continue to fall [1844]

I'm just wondering that if indeed the outlook is accurately forecast as negative in a town or city, that does usually lead to a slump in property prices if unemployment climbs. Anecdotally, people have told me there are few jobs. Without knowing their qualifications etc, I can't say if that's just their viewpoint or fact. I can say there's b*gger-all for me but that's because I have no in-demand quals and don't speak Polish, so the silence was deafening when I made enquiries with employers. It does at the moment look a bit like the prices are going south - but the caveat is whether that's just a summer lull and also might depend on whether the NBP cut rates.

I also read that the gov of Poland were wondering if they should rescue some of the construction sector that's troubled (I'm not sure what sort of construction they're talking about). Interesting crossroads now!!!
InWroclaw   
13 Jul 2012
Real Estate / Poland's apartment prices continue to fall [1844]

And here they might, if Wroc gets downgraded -

Fitch Ratings Agency changed the outlook of Wroclaw ratings from stable to negative. This is warning light for the city - if the financial indicators of the capital of Lower Silesia will not change, the rating may be lowered next year. Changing the rating outlook is for Wroclaw very bad news. The ratings are an assessment of creditworthiness of cities, states and financial institutions.

InWroclaw   
13 Jul 2012
Real Estate / Poland's apartment prices continue to fall [1844]

This seems cheap. Pip, it looks as if you are right about prices for some areas of Warsaw - 5000PLN/m2 unless I am misunderstanding it. Seems realistic in price if not far from Warsaw and not shared ownership.

asbud.com/inwestycja/twoje-osiedle-bialoleka/prezentacja/prezentacja

I'm almost tempted to say bye bye to Wroclaw if the prices are that low in Warsaw.
InWroclaw   
12 Jul 2012
Real Estate / Poland's apartment prices continue to fall [1844]

Is there a Disneyland in London? I thought they may only have this sh$t in Paris (except America, of course).

Not as far as I know!

With all the discussion about sources I'm surprized nobody else picked up the Rzeczpospolita article from Tuesday showing year on year falls in the secondary market of 10% in Poznan, 8% in Lodz and Warsaw and 6% in Wroclaw.

Thanks for posting that info, I didn't know because I can't read Polish very well, and don't keep an eye on the Polish press (the online translate services aren't brilliant Polish->English).
InWroclaw   
11 Jul 2012
Real Estate / Poland's apartment prices continue to fall [1844]

why is it so difficult for people to understand that the price is falling to reach the levels of what they should have been in the first place. it is not a fecking crash.

But if that happened that would make it a crash by any conventional measure or definition, It's just that some people may be unwilling to call it a crash for their own personal reasons. Once a price reaches a level and drops by that sort of percentage, it's a crash, regardless of how with hindsight the price was "inflated" unreasonably.

If Milky thinks we'll drop to late 2006 levels, I'd appreciate anyone with better maths than me to tell me what the sq m price was in Wroclaw at that time for the middle part of the market.
InWroclaw   
11 Jul 2012
Real Estate / Poland's apartment prices continue to fall [1844]

a mate of mine bought an apartment in central London in 2007 for £460k, he recently had it valued at £1.3m. Your knowledge of the current situation is limited to Warsaw only.

As I said, now here it is from the horse's mouth -

Agents under fire for 'over-valuing' properties

Agents have come under fire for over-valuing properties in order to gain instructions.

Philip Selway (pictured), managing partner of The Buying Solution, said: "It is clear that international and UK buyers are looking carefully at their position following the recent Stamp Duty announcements and perhaps drawing breath.

"This, together with funding issues (lending is scarce and the time taken to arrange finance is, in some cases, prohibitive), means that there may just be a degree of caution entering the market."

Source estateagenttoday.

Back to Poland, and Wrocław. Am seeing a slight increase in banners hanging on balconies or windows saying flats are for sale. Could be a seasonal slowing or could be evidence prices will give way somewhat. Caveat is that Wroc seems very busy and buzzing, and the NBP may cut interest rates - when the Bank of England did that, the 2005 prices which I thought was a bubble, just went further north. That's my honest take on things - I am not currently viewing properties to buy so have only a weak feel for the market at present. On the rental side, prices seem to be dropping a bit, some landlords doing deals like 500 for July and resume normal rent in August, etc. There are some landlords still asking top money, it's not a universal drop.
InWroclaw   
11 Jul 2012
UK, Ireland / UK passports if resident in Poland [19]

This means you are unable to prove your identity to Polish police when requested to do so and failing to be able to do that means you can be locked up until your identity (and immigration status) can be established (which is impossible given that you have no passport).

So, what does a person do if they don't carry their passport everywhere or it's with the UK Govt for renewal etc? I spoke to some police here yesterday about an unrelated issue, had they have found me 'a bit shifty-like' and wanted my ID, how would I prove it to them when all I'm carrying is a credit card and bus pass?

Being forced to carry ID is not something I'm comfortable with, frankly, for lots of reasons.

I wonder if Constable Polski would have accompanied me to the flat to retrieve my passport?
But if it were in Dusseldorf or lost with a courier, then what?
InWroclaw   
10 Jul 2012
Real Estate / Poland's apartment prices continue to fall [1844]

4800 to 5500.

Very cheap for Warsaw surely? That's approx the current price in parts of Wroclaw. although cheaper can be found on occasion.
InWroclaw   
9 Jul 2012
Life / Wroclaw Stadium and the Queen gig. [20]

Queen = John Deacon, Brian May, Freddie Mercury, Roger Taylor. And while many commentators do not notice John's absence or treat it mariginally, for me as an amateur bass player he was as essential to the band as Freddie.

+1

Nice little earner though, not surprised BM and RT couldn't resist it. Massive audience there = mega bunce.
InWroclaw   
9 Jul 2012
Life / Wroclaw Stadium and the Queen gig. [20]

Apart from Bohemian Rhapsody and maybe one or two other tracks that were not too bad, the fact Freddie Mercury was not singing was woefully obvious. It sounded sad and eerily empty without FM. Also sans Deacon did it no favours. Unfashionable though this opinion may be, it is closer to the truth than the hype you may read elsewhere. BM are RT are great guys, don't get me wrong, but it's not Queen without FM, it's like a tribute band.
InWroclaw   
8 Jul 2012
Real Estate / Poland's apartment prices continue to fall [1844]

Might be cutting interest rates, says NBP thenews.pl/1/12/Artykul/104900,Lower-growth-and-inflation-could-mean-cut-in-borrowing-rate
InWroclaw   
7 Jul 2012
Real Estate / Poland's apartment prices continue to fall [1844]

That worked so well for the vendors in Eire didn't it!

Who wants to see a farmhouse that was first offered for sale at about half a million euro and is now on sale at eighty million euro? Take a look...........

Address .................................................New Price Old Price Change Percent Date
Link Kilnagospagh, Skibbereen, West Cork 150000 175000 -25000 -14.2 09/04/11
Link Kilnagospagh, Skibbereen, West Cork 175000 220000 -45000 -20.4 02/06/10
Link Kilnagospagh, Skibbereen, West Cork 220000 280000 -60000 -21.4 20/10/09
Link Kilnagospagh, Skibbereen, West Cork 280000 435000 -155000 -35.63 21/10/08
Link Kilnagospagh, Skibbereen, West Cork 435000 475000 -40000 -8.42 19/09/08
- - Current Price Initial Price Change Percent -
- - 150000 475000 -325000 -68.4 -

source:
housepricecrash.co.uk/forum/index.php?showtopic=180363&st=0
InWroclaw   
7 Jul 2012
Life / Moving to Wroclaw from New York City [8]

Plenty of that last night even in the storm rain, up and down the streets shouting and swearing at each other, I thought I was back in the UK for a moment.
InWroclaw   
7 Jul 2012
Real Estate / Poland's apartment prices continue to fall [1844]

If you are implying that I am a botoxed blonde that has just married for money

Botox didn't cross my mind, wasn't implying what you suggest at all. I should stop smiling to myself now and giggling like an immature schoolboy, this is a serious thread and Milky will rightly tell me off in a minute as will a moderator!!

I shall say no more for now ;o)
InWroclaw   
7 Jul 2012
Real Estate / Poland's apartment prices continue to fall [1844]

we didn't know where we wanted to live in Warsaw and selling a house in this country is a clusterf***.

Not my beeswax I know, but I have a feeling you're blonde and a bit of a babe ;o)