Poland's apartment prices continue to fall

strange i thought i could take 100, try again ive deleted some.

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But don't sweat it with the mailbox WB, as I've nothing much in the way of news on that, perhaps it's going a bit south in patches, is how it seems to me at the moment.

I just sold an apartment in the centre of Krakow which I bought five years ago, no problem.

Where was it and how much did it sell for, out of interest?

Hi Sean,

It seems that the developers agree with you, 27% more starts than last year. They must be crazy, don't they know that there is a property bubble and the prices are going to crash by 60%, obviously not.

wbj.pl/article-59567-housing-starts-completions-show-strong-growth.html

Since when have developers been a good judge of the state of the housing market? The world is littered with the decaying hulks of over extended and overconfident developers.

The World? I thought the topic was Poland?. Off on one of your know it all trips?

You didn't disagree with me.

No point. If you want to go on about China or Dubai. I only know the market in Poland. I am not an expert on the rest of the world.

he didn't

I did not need to Milky. Harry had already answered, but please feel free to twist it to your own agenda.

The world includes Poland and property development has the same fundamental principle world wide.

One of those is the property developers like to claim 'but its different here/this time'. It isn't, ever.

It absolutely is.

Come now pip, it is obvious to all that the situation which will be faced by property developers in North Korea when communism falls will be precisely the same as that faced by those in Dubai next year.

Let's keep the focus on Poland

Fair enough: pip, it is obvious to all that the situation which were faced by property developers in Poland when communism fell were precisely the same as that faced by those in Warsaw this year and in 1982. Saying "It's different this time" would clearly be totally wrong.

exactly..
Prices going down every month.

" Prices going down every month."
But the source which you quoted from shows that in most Polish cities they are not.

Which is why you quoted from the source but didn't link to it.

it was in the centre of Krakow and I got my money back and rent for the last few years.
I'm stuck with a garage though... but it comes in handy from time to time.


Things are slower but no where near the armageddon some would have you believe on here.

Anyway, some people will be bitter, there's no cure I can type.

absolutely. And nobody is arguing this- but once again- there is no bubble or crash.

pip a nations capital property market in no way reflects whats happening throughout the country, a mate of mine bought an apartment in central London in 2007 for £460k, he recently had it valued at £1.3m. Your knowledge of the current situation is limited to Warsaw only.

Highly unusual - most London properties are at best 20% above what they sold for in 2007. Are you sure the agent didn't value it at .3m rather than 1.3m ? Seriously.

no, it is limited to Poland and Canada. I know nothing about the UK market but I am not stupid enough to compare them. Poland is a real estate enigma.

Unusual or not it happened, its not most property. It did have a lease issue which he resolved.

He did ask me to guess the value and i said £800k, i wasnt that surprised at the £1.3m to be honest.

Asking prices aren't selling prices, as the estate agents used to tell me when I moaned mine was cheaper than rival homes and yet still unsold! (London 1990s)

I said the agent valued it at £1.3m, the agent that will be selling it - agents (in the UK) if anything undervalue to secure a quick turn over. Prior to the valuation my mate said he would have snapped somebodys arm of at £1m.

Frankly some of those posh central London town houses you can just look at and say £3m and not be surprised if theyre actually £6m. It is madness, people pay and so they sell at those prices.

Thats laughable - bullshit.

Must be a very recent trend, usually they overvalue in the hope of securing the business, as the vendor wants to hear the highest figure rather than the realistic one. Later, the asking prices drop to achieve a sale. Have a look at Property Bee or Property Snake to see what really happens to properties before they sell - the initial asking prices often bear no resemblance. That said, where there is still demand, possibly some of the hot spots in C London, the above sheer drops may not be evident as yet

cant be funnier than this surely....


Its one trick agents can pull, but its a very dangerous game.


Evident yet! the ass fell out of the market in 2008 - 4 years ago.

Yup, bullshit or plain wrong. You don't get property tripling in value from the peak of the market in 2007. Even in PCL prices haven't risen more than a few tens of percent over the peak.