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


just to be clear- I am of the opinion that the prices are decreasing but will then level out- I don't think they are going to crash like a bubble bursting. But I have never denied that prices were dropping.

Life / Hey, Nice Airport Wrocław! Or! Day #1 for an American Ex-Pat in Poland. [128]

no worries. I went through this too.

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

this is why I have said from the beginning that residential agents in this country are a joke. but, chicanery happens in every field- not exclusive to real estate.

Edited by a mod

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

Milky, just keep doing what you are doing- which seems to be nothing. We, on the other hand, will continue to buy property using the knowledge we have, and most importantly, we will continue to be successful at it which ultimately contributes to the well being and security of our family.

But for those who read on here who are interested in buying property in Poland- Do not listen to Milky. He has no idea what he is talking about. Has even tried to prove me wrong with articles my husband has contributed to.

Knowing Polish real estate is more than sitting behind a computer reading articles. Try working in the field, you might get a better understanding of what actually goes on here.

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


wreckless?? Investing in property in Poland is not wreckless- you just have to know the market. And we do. so we are quite successful at it.

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

my maternal grandparents immigrated from Liverpool and my paternal grandparents immigrated from Ireland and Scotland.

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

seriously? Love the Irish, but they don't exactly have the best reputation with money.

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

no, they do this because it is a stubborn Polish mentality.

I am being driven to alcoholism by my in laws because of this. You can't change how the vast majority think.

Life / Where, Oh Where Do Poles Get Their Dogs? [18]


We are an owner of one of these dogs. They don't dock the tails anymore. Thankfully.
This is our kennel. The dogs are amazing. renmil.com

but, our next dog will be a rescue- If I didn't work I would adopt one in a second.

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


and this is more common than not. It is a Polish phenom, I don't get it.

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


and that is part of the problem because they simply refuse to "get" the way real estate works. My in-laws are a text book example of this.

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

yes, but there are a lot of extra factors that you are not taking into consideration.

Poland is not a typical market much like the rest of the world.

Language / "No tak"; The Oddest Phrase In Polish For This American [75]

It has a few meanings.

it is a phrase in agreement or emphasis but not always and depending on how many used at one time.

no
no, no
no,no,no

all have different meanings.
I kid you not.

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

I disagree.

Most of these "first in" builders were foreign so they either used USD or Euro.

Language / Shortened Polish male names [7]

It is probably Bartosz that he wants you to use. (Bartosh)

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

yes, they fell, but when you consider the fact they were grossly over priced- it is not much of a fall. It is a drop to normal prices.

Why does nobody see this??

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


yes, but I never denied they didn't. Here is the fact. After the fall of communism- developers came to Poland and started building. The first ones in made serious money- they had a corner on the market- and they were able to charge as much as they wanted. And people bought them- because there were no better options.

Fast forward to where we are now. The market is saturated. Buyers have more power than in the 90's. They are able to negotiate prices or get bonuses when purchasing property.

Because of the saturation in the market--the prices are dropping, but people are still buying. Not at the same speed as in previous years but people are still buying and developers are still building. This is not a bubble.

Someone here had the nerve to say that commercial, residential and industrial real estate are completely separate and should never be compared.
Once again, ad nauseum, they are all connected. The companies that rent commercial or industrial space in Poland effect residential because they hire locally. They pay well for Polish standards so employees are spending their money. Including buying flats to get out of their sh1thole blocks.

I think what is really frustrating about this whole post is that some know-it-all jackass keeps posting that the sky is falling when it actually isn't.

Slowdown/downturn--yes, nobody has ever denied this.
Bubble--not by a long shot.
Another thing is nobody is considering the Polish mentality of hanging on to property till death. Selling up is not done here. People buy houses and live in them for the rest of their lives.

In North America we upgrade when we have the money. Starting small until we can afford bigger.
So this is another reason why the market has slowed. People already live in their retirement home because they will not sell up.

I will never agree that there is a property bubble. Because there isn't. I also think it is fecking hil air ee ous that these links that the previous posters have put on here are actually filled with information in part written by my husband.

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


absolutely, I have never said it didn't. But it wouldn't make sense for my husband to lie to himself when purchasing property, does it.


He really does think this. But then again he has the numbers to back it up. He is at a place in his career where developers are requesting his services instead of having to go to the developers.

you really have no idea about real estate do you. I will let you in on a little secret. REAS is a two tier company.- they are nothing. They do warehouse appraisals in Opole. In Poland, all the big name real estate firms have an alliance, something called the Warsaw reasearch forum (WRF), they plug in information and statistics about the market. And all of them are able to access it. REAS has literally stollen and copied all of that information. PWC goes to them because they have access to all information and they are cheaper. So what you have read by REAS is not written by them, it has been written by my husband (also known as the god of real estate) and his colleagues.

So perhaps you should stick to the stuff you know, because it is quite clear you know nothing about real estate in Poland.

so once again....the prices are dropping because the market is saturated. They are leveling off and will probably stay here for quite some time until the demographics of the country changes. There is no bubble.

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


you wouldn't believe it anyway. And that is my point. My husband knows and has worked with each and every one of these guys that wrote this article, except the lady- but yet you believe them --they work in residential real estate and for developers- do you not think they could have embellished the information depending on who pays them? This sort of thing actually goes on a lot in this market. And yet, you slag off my husband but yet you believe these guys. Perhaps if you knew them you might change your mind. Particularly when they drive up with their new flashy cars and start bragging about how much money they made last year.

I don't work for a developer, my husband doesn't work for a developer but he actually does know what is going on in the market- and nobody in residential is paying him to. We are trying to purchase a rental flat based on the existing market and experience. And commercial, residential and industrial real estate is all connected.

Granted, Warsaw is different than the rest of Poland- but it is not completely opposite to the rest of the country.

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

for your reading pleasure: wbj.pl/realestatenews-62143-premium-residences-still-selling-well-in-warsaw.html

USA, Canada / Polish Magazines in Canada [8]

There is a Polish bookstore on Rideau St. You could call there. I have been to the Baltyk on Sherwood and they had them- perhaps the ladies behind the counter could help you out. There is also the Deli on Richmond st. It is worth calling all the Polish shops and asking them- if you go to the church Sw. Jacka, you could put up a note in the basement asking for magazines.

Or if you have an ipad- maybe you can download the electronic version?

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

REAS is an advisory company specializing in issues relating to the residential market. Since 1997, we have been cooperating with developers, banks, investors and other entities operating in the housing sector. In 2007, REAS became a partner of Jones Lang LaSalle, the global leader in advisory services in the commercial real estate market.

Are you fcking kidding me? Jones Lang LaSalle. Good Grief. You do know they are brokers and my husband knows each and every person who wrote this. "cooperating with developers, banks and investors." open your eyes.

Life / Rising cost of food across the globe. How much is a weekly shop in Poland now in 2013. [53]

right now blueberries and strawberries from Spain are 8 and 10 pln in the shops. The open air markets don't have them. Last week end I was at the farmers market and bought 3 leeks for 4 pln. In the shops they are way more than that. Apples are .99 per kilo in the market- in the shops I think they are at 1.99 a kilo.

If you shop the open air markets that are literally everywhere- the foods are cheaper than in the shops but the selection is limited to what is seasonal.

Life / Rising cost of food across the globe. How much is a weekly shop in Poland now in 2013. [53]

what exactly do you consider staples?

Life / Rising cost of food across the globe. How much is a weekly shop in Poland now in 2013. [53]

I do my groceries at Simply. It is not a big box store but a smaller one owned by Auchan. We are a family of four- I do the groceries once a week and I spend about 375 pln.

But, I don't buy and prepared foods or anything in a box. I buy all whole foods.

Is the British pound at 1:5 right now? So your bill is like 500 pln? what are you buying?

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

stupid, sad and hilarious all at the same time.

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


it is actually you that has no knowledge on the subject. what do you do exactly? English teacher. That makes you practically an expert in real estate in Poland.

so yes, my commercial real estate husband who works in a firm that has a division in residential has less knowledge than you do.

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


There are people in my husbands office that work in residential. He knows exactly what is going on even though he doesn't work there. He is not an English teacher giving his two cents about real estate in Poland.

whatever you say. Keep telling everybody the sky is falling and we will keep buying properties.
I am cool with that.
Yes, commercial is booming and will continue to do so for some time. But what you are not factoring in is the companies that rent space in Poland also hire locally. So people start making decent money and then they buy new flats. Let's face it, nobody wants to live in a communist block- they want out, even if it means going to a smaller place in a new building. This keeps the residential market out of a bubble. The market at this moment is saturated so people have more selection and the prices are decreasing. Even developers of houses are offering bonuses. I know of one that was offering a car and another that was offering full fit out.

What I don't understand is why you guys continue to deny these facts. People are still buying properties.

Rental agents in Poland are a joke. If you go back on any real estate thread that I have written you will see that I have always said just that.

Their fees are stupid. A full months rent from the landlord and renter for opening a door? please.
They are such poor quality because they have never been regulated. Since the fall of communism residential agents have made their own rules. They are an unprofessional joke.

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

my husband is a commercial real estate agent. He moves corporations and companies into office buildings. He leases office space.

still not a developer.

I understand perfectly what a bubble is and we are not in one. I guess if you keep saying that there is one...like for more than two year.....maybe it will come true.

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

so an interior designer is basically a developer. No wonder you don't know what the feck a property bubble is.