Forex Market in Poland

Hello,

I'm new to this forum but I'm just curious to find out how big the Forex market is in Poland. With recent Polish GDP figures coming out stronger than expected and an optimistic economy, I'm wondering how many people take an interest and/or are active in this market.

Please let me know and hopefully we can get a good conversation going.

Best regards,

Justin

Lets hope you are NOT trying to offer financial services from the BVI without being Licensed in Pl are you?

Hello ThinkForexJB,

You can use the search box, top right of the screen to search key words.

E.G. POLISH ZLOTY AND BRITISH POUND (updated 2010)

Not trying to offer any services - just trying to get a conversation about Forex going on these forums. We can even get more specific and talk about the Zloty's outlook based on recent GDP figures. USD/PLN is down about 1% today. Thoughts?

Cheers!

Edit: Thanks Sean for the tip! I was unaware of the search box at the top. I will check out that thread as well.

The ECB pledging to buy up bonds.

Merged: Poland: clamping down on forex loans

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Polish borrowers are about to lose one of the last vestiges of the long-gone real estate boom - the ability to borrow lots of money in a foreign currency.

The Polish Financial Supervision Authority (KNF) is preparing to throttle what little remains of forex lending later this year, limiting such loans only to people actually earning euros or Swiss francs.

Forex loans were enormously popular before the economic crisis in late 2008 ended a boom that began when Poland joined the EU in 2004. From 2006-2011, about 60 per cent of all new mortgages were denominated in foreign currency, largely Swiss francs, which were much more attractive than higher interest zloty loans.

for 190,000 mortgages over the last few years.

All that means more glum news for a battered real estate sector.

It's no bad thing. The Financial Times referred to the Polish habit of getting Swiss Franc and Euro mortgages as "an act of collective madness", and rightly so.

about time! it was obvious this would and has caused massive problems from early on, i started a thread on here back in 2008.

Already posted https://polishforums.com/real-estate/poland-apartment-prices-continue-fall-50431/55/

As the article states, the practice was largely stopped in 2009. But the amount of debt hasn't fallen very much since.

Link??

Why not read your own link and the articles it links to.


65% to 56% isn't that much of a reduction

No mention of the 1-3 million new homes that are still needed, no mention of the 1 million homes that are on the market and not fit to live in. Keep on with your dreams, keep on with your 3% per month falls in value, keep on with your 4% inflationary drops. Milky, if this was true, after 4 years, you still, still, cannot afford to buy. Otherwise, you would not be whining on this forum. In 4 years time, according to your predictions, they will be paying you to take new flats off of their hands.

Go forth and multiply, come back in 4 years and tell me I am wrong. You say you have a wife and kids, to me, if you cannot put a roof over their heads, you are not much of a man. ( even though you list on your profile that you are a female, púrn star)

Unfortunately real estate prices (in Warsaw at least) are still somewhat inflated - a lot of vendors aren't in that much of a hurry to sell and a lot of loans are guaranteed by family members etc. Forex loans were a disaster and the credit bubble (Millenium Bnk were much to blame here) has ossified the market since.

Milky sometimes perhaps exaggerates the situation, however there's a lot of truth in what he says.

What truth Jon?, read his posts for the last 4 years, when will this man be satisfied?. Its obvious that he got hurt in Ireland, many did, but he is the only Irishman I have heard who is ******** all the time. Even on Christmas day, he had to have a dig at Poland. The man is obsessive about running Poland down. You seem to stick up for Poland, if he hates it that much, why doesn't he just FO back to Ireland? he has already stated that he can get more on the dole there than he can earn in Poland.

He states that he lives in Poland. Most people would struggle to live for 4 years without earning any money. If he had money then why does he keep going on about the price of property?, it does not make sense. Surely, if you were going to stay here for 4 years +, you would not rent? The money spent on rent would more than negate anything you could save on discount over 4 years.

Maybe he doesnt have the 25% deposit to get a mortgage, the guys obviously been moaning much becuase he cant afford property.

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