Poland's apartment prices continue to fall

So!! what's the latest with house prices in 2012? anyone got a link?

Only this preliminary report


media.reas.pl/en/pr/207547/preliminary-monitoring-results-for-the-primary-residential-market-in-the-first-quarter-of-2012?rss=true

That's even higher than I thought.

average fall through out the country for March was just 0.4%

Spring bounce?

yea maybe..

Anyone got the prices for April or a detailed report on the first quarter.

Try checking the site link I posted. Its there

media.reas.pl/en/pr/211720/residential-market-in-poland-in-q1-2012?rss=true

Construction has fallen off a cliff, according to the chart on page 1. However its says in the text that there is an increase...

Thanks Peter W

Some developer in Wroclaw wants about 6500zl a m2, so much for prices coming down, very disappointed. They did say negotiable but it's a lot per m2 compared to what I think is fair money. They only have 2 left unsold apparently, there were at least 30 for sale. i2 I think it is.

The 4700 zł m2 development I saw advertised - they have not even started building it yet

Denial denial denial.that's all i can say. They'll come down,don't worry.

If you say so Milky.........yawns!!!!!!


I have been keeping my eye on two proposed new projects in my local area. Both have been advertised with pictures of artists impressions of what they will look like when completed. Having checked with the court, neither of the developers have applied for planning or building regs. The banks are not lending for spec developments, hence, no building work is taking place and unless the developers can show the banks that they have at least 25% of pre-build orders, I do not think these projects will proceed in the current financial climate.

If this is a general trend throughout Poland, there will be massive unemployment in the construction industry. The large cities will cope as there are many people and companies moving there. The smaller towns will struggle with only minor works and the odd, privately built houses and local authority contracts which may not amount to much if there is a cutback on government spending.

There is still a demand for new build in this area as the housing stock is old. The only solution I can see for the situation to improve is for the banks to look at their lending criteria. Instead of trying to lend out small amounts of money to people at extortionate rates of interest (so say, spreading the risk with little exposure) they are going to have to do a rethink of the long term investments for the sake of the clients and the small business's that add a lot to the Polish economy.

I myself am in the position of having a small project ready to build eight new flats and the only thing holding me back is whether the banks will lend the money to the people who will want to buy them. The inability of the EU leaders to sort out the problems with the Euro have brought nothing but a fear which has lasted for the past two years and still continues. You may ask how this affects Poland when there has been no collapse of the banking system here, well, until the ECB states that the banks have enough money and do not need further recapitalisation, none of the banks want assets on their books, only liquidity.

Austerity or growth, this is the battle that is being fought in Europe at the moment.

The government should not interfere with the market and respond to the lobbying of developers to introduce another scam grant.
The market should be allowed to re-correct itself.

Its pissing into the wind.

It would be a logical move for the developers;maybe they will succeed,nothing surprises me in Poland.

Thank you for the post Avalon, I appreciate that information. I do agree with Milky, that the government should not interfere, but I sincerely wish you Avalon much success with your project.

I'd say there is some serious lobbying going on from the brown envelope brigades.

And you this how, exactly?

And you know this how, exactly?

Where do you think the money for social housing comes from?. By building houses for low income families, the government is responsible for the upkeep of the property. For far less money they can help these families to buy their first property at no cost to the taxpayer as they would be repaid through the mortgage.

I don't know "exactly" just a hunch.

botanical gardens project has prices at 4,300zl. i guess that will be for walls, windows and a front door.

we are shopping for a bachelor apartment in Warsaw to rent out. The prices for this category have not fallen. Even a small place in a run down building is more expensive than a new build. The prices so far have been from 7,000 pln per m2 to 15,000.

Is this a misprint, in relation to rent and property prices per meter squared?? Rent so low and prices so high, maybe down to absolute lack of development.

numbeo.com/cost-of-living/city_result.jsp?country=Poland&city=Bialystok

So, you're not going to build anything yourself? You're going to buy what you don't need in order to make money off of someone else's need to live under a roof?

I guess you're in that group of people who don't care how they make money, as long as they make it.

that is the stupidest thing I have ever heard. We are planning to buy an old flat, renovate it and rent it out. I can't change the system. I am a firm believer in the "wealthy barber". In Powisle there is a massive student population. They need to live somewhere. How is being a landlord one of the great evils of the world? perhaps we should just buy a flat and let people live in it for free--actually, better yet, we can pay them to live there.

We are not slum lords. We have a rental property in the north of Poland. It is actually on booking.- if you want to see the reviews and how we treat people.

Making money = paying tax and contributing to the economy. Sitting on your ass and claiming benefits = not contributing to the economy.

So we isolate Pip's case- she finds her small flat and buys it.

1.The seller gets a cash injection to buy a larger flat or purchase goods. - Contribution
2.Pip pays her legal and professional fees- Contribution.
3.Pip renovates her flat or finishes off work - Contribution
4.Pip rents out her flat and pays tax on income- Contribution

Don't quite get your theory F4

If you believe whatever one does is fine as long as one pays taxes on it then, no, you wouldn't get my "theory."

Take care.

we do everything legal and everything by the book and according to building codes and guidelines. we also rent at fair market value. what is to "get"? there is no highway robbery and no cheating the system. This is an investment property. Surely I am not the only person to have one? We also pay taxes on everything and claim everything. There are loads of people in Poland that cheat the system. I would rather sleep at night than make a few extra bucks.

pip...why would I waste my time trying to convince you that whatever you do is anything other than awesome?
People, ime almost always seem to justify their actions. You have done so with the most childish ones (imo): other people do it too; there are people who do worse things; it's legal so it's okay.

Whatever. You're not going to think in any other perspective than the one which feeds your ego the most so don't let me get in the way of that.

You hit the nail on the head there.
Don't waste your energy arguing with her. She is a wall.

Sorry but I absolutely do not understand what you are talking about. No wall, no stupidity, no ego, nothing. I don't understand why it is such a bad thing to want to buy an income property? what is wrong with this? I don't get what your logic is.

So you don't like me. I don't care. Is what I do awesome? I don't know- I have a shop, people buy my sh*t, they like it--I don't walk around thinking that I am awesome. I will leave that to the Americans. I live my subtle Canadian lifestyle.

Please explain to me why buying a property and making an income from it is such a bad thing?

Where my shop is- it is in a pre war building that is falling apart. my landlord will not fix anything up and she is a millionaire. she owns loads of property all over Warsaw that look like squatters houses- but they are in prime areas and would fetch a good price. We plan to renovate, to rent as an income---I don't get why this is bad yet it is ok for my landlord.

Why is it that you have decided that this is one of the evils of the world?

for fecks sake I see child poverty, the raping of our wildlife and its habitats, poor treatment of animals and people far worse than somebody wanting to buy a 25 m2 flat to renovate and rent out to a bunch of students.

Perhaps instead of deciding who is evil and good on this forum based on their incomes your purpose would be better served by donating to an orphanage or animal home. This is what we do --if you need a list of orphanages or animal shelters I can get those for you.

How dare either of you decide what is right or wrong- as I am sure both of you work for free or donate your incomes to those less fortunate than you.

Foreigner4, I suppose you are one of the people that don't drink, don't smoke, eat only what you catch and what grows in your garden? If you are, far enough, you can preach how you live. But if you are not, bear in mind that through drinking you promote development of drinking industry, therefore alcoholism, if you buy your meat in shop you promote abuse of animals (ever been to farm where animals are bred for meat?) You also contribute to huge waste of food (as supermarkets and food chains prefer to chuck away food rather than give it out for free - and goverment does not make it easies anyway as such hand outs would generate tax). So how is renting apartment to someone worse than all the above?