Real Estate / Residential real estate values go down in Poland [455]

every once in a while you can finds something positive (in terms of the lending, all though some on this forum would say only a 5% decrease in 2012 is optomistic thinking):

Bank BGŻ has said it plans to increase mortgage lending by 20-25 percent in 2012. The bank said this increase was compared to the final quarter of 2011, when mortgage lending hit its 2011 peak.

Some of the darker scenarios have projected a fall of 30 percent in mortgage lending in 2012 and of course some banks will tighten their lending practises.

BGŻ deputy president Wojciech Sass told pb.pl that the bank grants about PLN 70-80 million worth of mortgages monthly and will increase this to PLN 100 million this year.

Prices of residential property are seen falling by around 5 percent this year after a 5 percent nationwide decline in 2011.

Weak demand for residential property has been widely muted on the back of tighter credit restrictions, amongst other factors, after a new Financial Supervision Authority recommendation that came into force this month further restricting banks’ lending procedures.(jh)

Real Estate / Residential real estate values go down in Poland [455]

Returning to the topic of small apartments:

ca.news.yahoo/video/canews-22424922/micro-apartments-27643164.html

In Vancouver Canada new 20 to 30 m2 apartments were put on the market for rent at $850/month (about PLN 2,800) and went quickly. Looks like Poland does not have a monopoly on these small apartments.

Real Estate / Residential real estate values go down in Poland [455]

Is there really disagreement on if cleaning up and improving an apartment you are trying to sell is a good idea? (call it staging if you want). This is not dishonest, it's just smart (you may even decide you like the apartment you are trying to sell when you are done staging it).

Maybe I need to stop 'staging' my apartment on a regular basis and just let the dirt build up.

Reality is it is difficult to sell an apartment - any thing you can do helps.

When I viewed my apartment is was a very hot period (summer of 2010) and the display apartment had central air which probably influenced my decision too much (immeadiate feeling of comfort in the apartment).

Back to the topic, apartment prices are falling, how far remains to be seen. Additionally I think we are already seeing a lot more price differences between the different locations of apartments.

Real Estate / Residential real estate values go down in Poland [455]


Very negative, and honest article, but if google translator is doing its job, I undestand that the risk is 25% that there would be a drop by up to more than 30% (headline itself doesn't reconcile to the body if the translation is good 30% vs >30%)

Analysts admit PKO BP, however, that there is a risk that within two years, prices could fall by up to more than 30 percent.! The probability of this scenario - as a result of "relapse recession in the global economy" - is, however, "less than 25 percent.." Let us add that the trouble wpadłoby then many existing borrowers. Growth franc exchange rate has meant that now, even 150-200 thousand. of them have flat burdened with debt, which exceeds its value. These borrowers had lost their jobs, they could not save, sell house - obtained in this way, the money would not be sufficient to repay the loan. Changes in market prices real estate analysts, PKO BP monitor with particular attention, because almost every fifth dollar of all granted loans in our country mortgage from the bank. Bankers are concerned primarily large

Real Estate / Residential real estate values go down in Poland [455]


I wouldn't go so far as 'pick your number' - however they are getting a high selling price - however you will see their sales are slow (although this is compared to the days when things were sold before they were even built, which isn't normal in the rest of the world). I'm not sure exactly where you are thinking of, for example:

Grzybowska 4 - prices PLN 11,800 to PLN 30,000 - about 70 of 240 left for sale
Twarda/Metropolotin - will be interesting, selling from Feb 2012 - prices up to PLN 20,000
Zlote 44 - average price of PLN 30,000 - about 75 of 200+ sold I believe
Platinum towers - bit of a disaster, I think they converted 200 of the apartments into hotel rooms
Opera 2- no idea what they have sold, they don't even advertise, prices up to PLN 50,000/m2 - anyone know the sales success for this project?

I think the safest place in Mokotow, anywhere from the center up to Racławicka metro station.

Warsaw has some similarities to Toronto (in terms of the metro layout) - my understanding is that all the real estate along the metro demands high prices whereas the real estate not along the metro lines goes for significantly less.

Personally (for myself) I would never buy anything not on the metro lines. It costs more but the premium you will recover (of course it will also go down with the market) - reality is I rarely take the metro - but I like to be able to when I want/need to.

Life / Exam for Drivers License in Poland; English? [99]

Do you already have a licence and if so, from what country? If it is from the EU I believe it is a simple swap of your licence.

If it is another country there may have to be an agreement between the two countries (but I'm not sure)

I purchased the practice CD in English from the same place you take the written test (but I don't know the address/name - did it 3 years ago and I think it was only PLN 15)

When you do the actual test it will be the questions from the computer CD but they are printed.

Additionally you have to bring a sworn translator with you when you do the written test.

You will also have to have sworn translation of your current licence and forfeit your current licence when you get your Polish licence.

If you don't have a licence you'll have to take the road test too.

Lastly I understand they are to increase the number of possible questions from 400 to 1500 in the NEAR future - so right it now - it took me a while to learn the 400 questions (some questions are simple and some are strange/unusual)