Poland's apartment prices continue to fall

How many out of how many?


You missed the boat already mate, its long gone.

Ah, so you actually expect no return to 2005/6 or earlier prices after all. Therefore the growth is not unsubstantiated growth as you termed it before and I misunderstood your gist - you actually think prices will level out here or rise. Otherwise you're contradicting yourself big time aren't you.

Fcuk dude, you're trying to catch me out on the definition of unsubstantiated?

How many new mercs out of how many were being driven by young ladies?

You shouldn't use words or terms that you don't know the definition of, dude.

Polands EU accession caused unsubstantiated growth in property prices, you know something i dont?


How many mercs out of how many, were driven by young females? That you witnessed of course, and hurry up. Third time asking.....dont make sweeping generalizations without sufficient data to back it up. In this case im willing to take a rough estimate, so lets hear it.

Unsubstantiated growth - I'm not Einstein but to me that suggests castles in the air, etc etc. If you do not believe prices will fall, then the growth is substantiated by virtue of the fact that prices do not regress to 2005 or earlier levels (if that turns out to be the case, although we know prices have already dropped somewhat in some regions here in Poland).

wordwebonline.com/en/UNSUBSTANTIATED

"You have already missed the boat" and "unsubstantiated growth" -
to my mind they mean (respectively)
"Prices will remain high" and "price growth is based on nothing proven"
- that's contradicting yourself.

Dobranoc.

Your link is ridiculous, it doesn't show the definition of unsubstantiated at all.
Unsubstantiated:
dictionary.reverso.net/english-cobuild/unsubstantiated


^That's a definition edit ^

Still waiting to hear about those ladies driving new mercs.


How many out of how many? i saw hardly any new Mercs being driven by young ladies in all the time i lived in Wroclaw.

BUT!!! they were living abroad earning up to 10 time more. Not from indigenous economy. If that was the case prices would still be at 2004 levels.

globalpropertyguide.com/Europe/Poland/Price-History

read it to the end. learn something.

article-59705-polish-housing-market-faces-slowdown.h tml

Crash.....

Thanks for that post and link, interesting, and perhaps a reason to remain hopeful.

Lots of people up to their neck in debt. Doesn't mean they are wealthy, could mean a lot of bank owned cars. Mind you you need a job to get a loan.

But perhaps just a temp role once in a blue moon will suffice, as my Merc driving neighbour proves?

in slow motion

Is it? very noticeable, significant, falls in Krakow this year.

for the love of Pete. A crash is not in slow motion. All of your so called expertise is a joke based on what is actually happening.

agreed, in some places the crash is very noticeable.

Does that mean certain posters here will soon be able to afford to buy a flat?

By the way, you're still losing that bet of yours about prices going down by 20+% over a year.

I hope nobody takes advice from Milky. He knows nothing.

Yea there's no bubble.

there isn't. there is a leveling of prices after the inflated prices of 2007 to 2010. why is this so difficult for you to understand? You don't work in the real estate industry. You don't deal with those who do. You don't buy real estate but you have decided that you are an expert?

I have posted numerous links written by people that know real estate but nobody has ever commented on them. "but they are written by those that are in the industry- they are trying to sell us something." with this logic then we shouldn't believe anyone who earns a living off their expertise.

There is no bubble. Flats and houses are still selling and builders are still building. this is not a difficult concept. It is reality in Poland.

Time to panic?

Right now in Canada we are at the Chicken Little stage. The real estate industry and the banks say there is no bubble. Our finance minister, Jim Flaherty, has warned repeatedly about high debt levels, but even he is on the record saying there's no bubble.

I don't want you to listen to them. I want you to listen to the Economist, Canadian Business, the Wall Street Journal - each of which have sounded scary warnings. Macleans magazine went a step farther with a screaming headline saying it was "Time to Panic."

cbc.ca/news/business/story/2012/04/16/f-vp-pittis.html

yea Poland's different.

And that's why you still cannot afford to buy.

Ok- but Canada is not Poland. And I know for a fact that houses in major Canadian cities are still selling--I have friends who are agents in Vancouver and Ottawa- excellent markets. I don't think Canada will have the same crisis as the U.S. based on the fact that our banking system is different and it is much harder to get mortgaged.

Yes, everything is fine, sales are down 23%.

yea thing are just fine PIP.
Pip is like God,she knows everything.

I know feck more than you do with regards to real estate in this country. Once again for all those with learning disabilities. The prices have dropped the 23% and are leveling off. The prices were inflated during the boom build in 2007 to 2009 so now they are dropping to more realistic prices. not bubble. not crash. a drop to what the prices should have been had they not been over valued during 2007 -2009. It is quite simple really.

With regards to the sales dropping- also a result of the mass purchases of 2007-2009. Poles tend to buy a home and live in it forever- and then they give it to a relative. The housing ladder doesn't apply here.

Homes are still selling- there is still residential construction--this can't be disputed.

Corrected for you.

PIP youve lived in Poland for what 10 years and are relatively successfull by your own admission, why didnt you buy in Warsaw pre 2006?

if you had done that it wouldnt really matter whether bubble, no bubble, correction or whatever - you'd be sitting on atleast 40% capital gains even in the worse case scenario.