/ House prices in Poland to drop more or rise again?
ash1972 - You see.. when you start making comparisons like that then you will begin to dig your own grave in this argument. I read somewhere that poland had the highest capital growth over any other part of Europe in the year of 2007. Krakow, doubled/tripled (i'm always a bit dubious about statistics) in as many years recently. There is 100% no doubt that this has been driven by pure investor speculation.. (some might say these are the fundamentals of a speculative bubble) I'm guessing you yourself bought these 2 properties in warsaw for the purpose of investment and based on stories of past/future capital growth in real estate in poland?
I have no doubt that in the long term (10 years) you will have a good investment on your hands. But right now you would have to have rocks in your head to buy real estate for investment purposes in poland unless you get an absolute bargain. The title of this thread demostrates the uncertainty of things at the moment. and you only have to read a couple of other threads here to know that there are people in trouble.
The developed world has seen some good times over the past decade, and there has been a lot of people with a lot of money and a great deal of optimism. It is a reality that this has all changed, at least for the moment.
Again.. I'm sorry if i sound all doom and gloom. But you can't avoid the facts. All you can do in times like these is to be extremely conservative with your money and investments and be prepared for whatever happens. Don't buy unless you get a bloody bargain.. and don't sell unless you really have to. If you are highly leveraged, then do whatever you can to pile money on to your loan (aim for being leveraged at about 65% or better).. if you borrowed in a differnt currency then talk to your bank to try and get your loan converted to zloty. Its not the end of the world.. it's just an economic downturn. Be sensible, hope for the best, but prepare for the worst and you will be right.