Real Estate / The current property boom in Poland is a bubble [342]

i have to agree...the prices have gone up too quickly and the wages just don't come close to matching what they are asking for these days.

i hear a lot of talk but see little action if you know what i mean.

i think some people are just hoping to get lucky.

there are other complication with polish real estate....from what i have heard you have to own something for 5 years in order to not have to pay 22% VAT tax....which is quite high and pretty much can drain whatever profit you could make. it's not conductive to a healthy buy/sell market. (if you know more about avoiding this tax i would like to know)

hopefully people in poland will wise up and realize that a gradual increase is more realistic and healthier for the economy. otherwise people will be waiting years or be stuck in unatractive loans.

"it ranks 7th in terms of investment attractiveness" <--- curious where you got this info from

Real Estate / The current property boom in Poland is a bubble [342]

a decreasing population is not necessarily a bad thing. it can make up for the unemployment in a country which has actually been happening recently with all the emigration to the uk from poland. unempoloyment rates just a couple of years ago were about 20% in poland....now it's around 11%.

speculation can be a good thing, but it has to be reasonable. real estate investment is a relatively new concept in poland so the people need to keep their "money making dreams" in check otherwise the market won't grow in a healthy and gradual way.

i read somewhere the demand will continure for the next 10-12 years in poland before the supply will catch up. now this doesn't seem to make sense with many poles leaving the country. however...we have to look at the quality of what was here before. i take it to mean that the demand is for a western standard of quality housing. people just don't want to live the rest of their lives in an old soviet era housing developments (not all, but many are in a situation like this).

will young poles return to poland after making money abroad? that's a good question.

how will taxes effect property investment? i have heard in poland that if you sell within 5 years you have to pay 22% VAT. i have also read that a new EU building materials tax is coming in to effect in january 2008. are tax shelters available (i.e. reinvestment)? tax laws need to be tailored to investment needs if real estate is to grow into a healthy market.

the coming of the euro.....the funding for the euro cup. there are many positive signs for the short and middle term, but like i said...poland has to be careful of moving too quickly. growth needs to be kept in check by keeping prices at a realistic growth rate.

Real Estate / The current property boom in Poland is a bubble [342]

irish...that is the same as in the usa as well (which has a healthy market in general)....but in poland it is done with contracts generally (sometimes not for various reasons) for up to a year usually. i believe it's a similar situation to germany where one has three months notice (either way) before moving out, but don't quote me on that. my landlord and i haven't had a contact in awhile so can't check the details for you. someone on here must be renting on a contact in poland though.

deise....this might help to give some idea:

h t t p://w w w.apartament.net.pl/?s=3&mact=7&wynajem=1&szukam=mieszkania&cena=0

or

h t t p://w w w.laskowski.com.pl/roferta_lista.php3

(remove spaces)

look it up on google: "nieruchomosci poznan" and then mieszkanie > wynajem
some sites have english.

to answer your other question....everyone is trying to make a buck these days on real estate in poland. as far as it being a "real estate bubble".....i've talked about it before in this thread....but you can check the exact meaning of the term on google or wiki.

as far as the japanese.....some invested in hawaii and are doing very well these days. the key was having a stable market.

people from many countries (including poland) invest in places all over the world and make money. it's part of the global economy which recognizes borders less and less.

the key is a stable market that caters to investors needs.