Poland's apartment prices continue to fall

Thats because of the Polish mentality...ask any Pole if he would purchase a property he would always say the price was too high.

A 'mere'??


an extra 25 private classes a week?? you'd be dead in a month.
Should we not be talking about the average Pole?? are you not being a bit overtly subjective
here...


Please show examples of this point that you keep making.


Big time and then the Polish government will have to actually govern, instead of exporting the surplus and claiming that unemployment is down and that the country has escaped the recession bla bla bla.


Who bought it?a dwarf?


like a bubble.


even 50 years or more,long wait.


Almost the entire east of the country.


Well logically, they wait until they can't afford to wait.

a retiree bought it.

inflated is not the same thing as a housing bubble- perhaps you are confused by this.

Yes, a mere: some of us very regularly work more than 9 hours in a day. Perhaps you should try it?


Now we're seeing exactly why it is that flats are so far out of the range that you can afford: you simply do not work hard enough. Sorry to tell you this Mark, sorry, I mean Milky, but 34 hours per week is slightly less than most people work.

I also love your maths skills. If lessons are 50zl each and a person wants an extra 4000zl per month in income, they do not actually need to work 25 lessons per week in order to earn that much. So perhaps the problem is not only that you're too lazy to be able to buy a flat, perhaps it is that you are too lazy and too stupid?

lesson are between 30 and 60 zloty,I'm so smart I took this into consideration. You call me Mark hahah, So are you still getting it hard to meet up with the opposite sex, I guess you're too old now anyway,need to do more than change your name eh,haha.


so, no class prep from you so...

One ‘hour’ in the Polish education system is actually 45 minutes. Fifteen minutes is usually more than enough time to prepare for a 45-minute less. Thirty minutes is certainly more than enough to prepare for a 90-minute lesson. Maths really is not your strong suit, but then do you actually have any strengths at all? It certainly seems not from your performance here.

I have medals Harry for the 100metre sprint under 12's and under 14's in the community games,AND I have no problems with getting women unlike you Harry..


must track that down.

And doubtless those are the two biggest achievements of your life, which is pretty damn sad really.


I'd imagine that any female creature you can get would be unlike me. And I'm sure that they are hugely impressed with the desirable residence which you take them back to: caravans are so fashionable at the moment, aren't they?

A female man?


Got silver in the three-legged race in the under 12 community games as well.

if prices are coming down i'd like to know how it is that apartment prices, on new builds in the area of wyspa slodowa, cost 7,000zl per sq metre.

First search - took about 20 seconds in Sobótka about 20 KM's south west of Wroclaw, a tad over 1500 PLN / m2 and thats not including the działki of 382 m2. Bargain i'd say. There are thousands of offers like this, im surprised a man of your obvious Nieruchomosci knowledge was not aware of this!!!!

Link??

If property is sitting unsold for years, either the asking price is too high or the there are no buyers. Do I believe prices in Warsaw are high, yes is the simple answer. we must also look at market shifts here. Let us take a family of four parents in their 30's, they are currently mortgaged with a 60 m2 flat in mokotow, they need more space for the growing family, can they step up to 100-150 m2 in Warsaw at 1.5 - 3 million PLN or do they buy a house on the outskirts and commute.. Most of the time the answer is go for the house as it is cheaper,although they will tell you it is for the children and it is green and a healthier climate, it all comes down to money.


I could show you a house that could not sell at 2 million PLN 8 years ago and the same house is on the market today for 5 million PL. In my opinion there is a bubble in house prices in Warsaw, both in Żoliborz and Pod Skocznia.

Small is beautiful when it comes to heating big houses or properties during Polish Winters!

simply because time is money, and waiting with an idle asset on your hands is just plain loss. I was living in
warsaw until recently and paying a tent of 27 000 pln per month (i know it is high). at the same time, i had a house built in warsaw which i was renting out for 24 000 pln. Lease came up recently and after several visits, i accepted to lower the rental price to 22,700 pln and signed in a new tenant. The owner of the house I lived in has refused to bulge from her 27 000 pln and guess what, after 8 months, she still has no tenant. So, who was right?

That's for sure.

The person who sold you the house in 2008.

Its right there numb nuts under linkage, you know the hyperlink link thingy..

You are both right Bullfrog: You because you wanted to find a tenant and get some income and did not mind lowering the rent and your former lanlord who prefers to have her house empty ,does not care about income ,rather than lower her rent.

She might have her reasons you know.
There are millions of people who own places everywhere in Paris in London in NY and if they have spent a lot of money decorating and refurbishing those places(Bulthaup Kitchens, Designer's furniture etc) and are attached to their places they want to find the tenant who can afford the price they want for it or just leave the place empty for months or years .

I have italian friends who have a house in Florence Italy which has not been rented for 2 years now because she says the rent they want is too high for the local market but they don't want to lower it because their property is luxurious, the value of their fitted kitchen itself would be worth several years of rent. He does not care for he is the president of an international company in France, so they target specific tenants with specific profiles.

Now if your choice was to have a tenant for your house at any cost then your choice was right but i know of a Polish owner in Kazimierz Krakow who still has his flat for rent on the market after a year( through a Real Estate agent) and who has been turning down lower offers from potential tenants.The place is a bit over 2000 zl so over 10 times lower than yours but still he does not mind waiting,does not have any morgage and his yearly czynsz slighly over 1 month rent.

I think it can also be a question of scale, leaving without tenants a place worth 24 0000 zl per month empty is not the same as leaving emptya place worth 2000 zl a month !

At 24.000 a month I would want champagne flowing out of the taps. You could have the best suite in the Intercontinental for that and be right in the middle of town ! How big is this place ?

Well, alot of the place over here are just glorified birdcages, and still, they try to sell or rent them for extortionist prices; even though they bought them for a fraction of the price. That's capitalism I guess and it's their choice.

520 sq meters


Please read the post before answering: no one sold me any house in 2008, I had one built.


I can understand landlords who decide to leave the house empty because they don't need the income, that is a matter of choice. But then, why is she putting the house on the market at all? If you put it on the market in the first place, it is because you need or would like the income, isn't it? And in this case, refusing to move a few% and risk not having a tenant is not a rational decision (potential tenants do not come by the bucketload at this end of the market). In my ex landlords' case, it is quite simple: if she had accepted to take on a tenant at say 25,500 instead of 27,000 (so same discount as the one I accepted), she would have made an extra gross rent of 204 kPLN (=25500*8 months). Even if she received today an offer by a tenant for the full 27,000 PLN/month, she will need ...136 months (=204000/1500) so ...11 years to recoup the lost income..Hardly rational , is it??

If all landlords follow this logic then it looks better to rent for 100 zl than for nothing ! Would you have rented your place for 100 zl a month?

In your case i fully agree that at this end of the market there are not so many potential tenants and that by refusing to reduce by a few PLNs her property 'rent, in your eyes she lost an opportunity to rent her place but since we are talking about luxurious property , imagine you make a slightly lower offer than the asking price to rent a flat on 40 Bond Street NY from a landlord called Ian Schrager, do you think he would accept even to reduce the rent by 5 $ even if his apartments are on the rental market ?

Nope, Monsieur because he targets people who can afford his places.And of course he can afford to do without a few thousands of $.
As S Fitzgerald said ,the rich are different.

The thread has gone of topic,this was the last related post...(above)

Polish apartment prices continue to fall

Its always destined to go off topic when the examples you use are usually either UK, Irish or American.

The free-market economy, have to keep it in context, as it's an international system. This very recent post is about Polish though..

nuwireinvestor.com/articles/real-estate-sales-up-prices-down-in-poland-57720.aspx

Watching ads over the years I have noticed that Poles don't lower prices when flats go unrented. They will be listed and empty for a year or more at the same price and sometimes a higher price. I never understood that. It's as if it is a pride thing or something. They could be making money if they were realistic but instead they insist on losing money and sticking to their price.

Very true, part of the Polish thing, these same people when purchasing properties love a bargain, I've heard one insult the owner by saying his property was worth half the price..In fairness though the Poles are very inexperienced in real estate transactions, they are also cautious and like all of us love money. I think things will change a lot very soon when people will not be able to repay their loans etc.

Not sure that it's a Polish thing. In my hometown in Ireland for example, there is a real fancy place along the river and almost half the apartment there are empty, this past few years. Once the landlords drop the rent by about 30%, people move in. However,landlords are letting their places remain empty in the hope of a miracle recovery. It's understandable as they may have their pension dependent on these properties or they themselves may have purchased other properties or property in the 2000-07 period(so they to are in the sh1t). So it's not a Polish thing, it's just people in despair and denial,they thought they were rich there for a while ; and 'now' they simply don't want to or can't afford to burst the illusion. Time and reality will burst it for them.

In the Western world, people bargain when the price seems too high for them , Anglo saxons take it for granted that the prices are always over inflated but if the price is correct and reflects the market price ,why bargain?

I think that every buyer/tenant has a budget in mind or in his/her pocket and should stick to it and very seller/landlord should also stick to his offer.

( In the Middle East it is different and part of their tradition to discuss for prices for hours and hours)
having said that, A Polish seller or landlord will go down in price if he /she is desperate!

No doubt about that.