Has the Poland real estate bubble popped?

I'm considering purchasing a 1 bedroom apartment/flat for my mom in and around Wroclaw. 700 sq feet or so. I live in the US and am not familiar with what has happened in Poland real estate valuations. Has the housing bubble popped there? Are valuations attractive? It's certainly looking better from an exchange rate perspective with the dollar at ~3.5 to the zloty compared to 2 last summer.

I don't need financing and would be able to do a cash deal of up to poland 200,000 depending of course on the recent more favorable exchange rate holding but I don't know what I would be getting for that price.

Are there nice and acceptable properties in that range in Wroclaw for sale now? Or are we still 6 months to a year away from sounds of pop pop pop.

You need a website like this. Prices and pictures.

nieruchomosci-wroclaw.pl

You also can look for it on gratka.pl

here is another website for real estate in Wroclaw: centrum.wroc.pl

In relation to you query, has it popped, prices have definitely come down since the large increases of about 2 years ago. Unfortunately, due to the state of affairs in the world and in poland, it is anyones guess, if the prices have bottomed out.

I think the rear end of 2008 was punctuated by several pops of increasing magnitude and by all accounts there should be further considerable large belches as the whole overvalued mirage settles into something resembling reality once more. Thank goodness you are not one of the Saintly Fools who were pursuaded to buy over the past year or so - O the humanity!

Its interesting that this thread was posted a year ago and there was much speculation by forum members as to whether prices would collapse as according to Polsky (and all his alias's) or perhaps decline slowly. Well, there has not been a 50% drop as Polsky predicted and if the following artical is to be believed, the market has bottomed out.

Apartments prices in Poland gaining ground

9th February 2010

Polish developers are giving fewer and smaller discounts to clients after observing an increase in interest in real estate.

According to research conducted by real estate consultants Reas, by the end of 2009 the average price of real estate per square meter in Warsaw amounted to zł.7,800 – a rise of seven percent over the Q3 average. Poznań and the Tri-city area saw rises of six and three percent respectively.

The days when property buyers got double-digit percentage discounts at real-estate brokers are behind us, Reas says. According to Katarzyna Kuniewicz, an analyst with Reas, brokers now give discounts of two to four percent. (RG)

Source: Rzeczpospolita

From Warsaw Business Journal

Mark, keep buying tickets for the lotto, you may be able to afford tthat flat someday.

The bubble will burst for sure,,if not it will be the first,,,but when ??is the question.

There is no popping of an asset bubble, there is only deflation. It takes a couple of years until prices are back in line. It will decline back to affordable levels just as it rose, gradually.

So you are back to using this name Mark?.......well you are only a year out on your prediction so there is still plenty of time. I was wondering if you actually write letters to the Warsaw Business Journal to tell them what liars they are? You do read financial journals, don't you?

Definitely NOT yet. Prices went down about 20%, and they are expected to fall another 30% - 60% at least.

To buy now in Poland is the same with throwing your money off out the window into the sea...

Yes, and it is not the last word. They are predicting 10% drop this year.

Poland housing prices in 2013 will fall - so provides most of the experts involved in the real estate market. Some forecasts assume even a reduction in average prices by 10 percent . Despite this, the situation will be difficult not only for developers, but also for those who want to buy their own M. Because even though prices will continue to encourage customers , it is still not known when move announced by the government program for young apartment .

I would imagine with the economy in recession and predictions for 15 % unemployment in 2013, prices will drop more than 10% in many cities.