Real Estate /
Poland's apartment prices continue to fall [1844]
Thanks Monitor
It's true that some of the new developments seem to have sold most of their units, but have a few hanging on typically which they knock out for 10 or 20% off. Some estates have had maybe 4 or 5% unsold units since 2010 or earlier.
I can well believe cash buyers are buying.
I don't understand the valuations here, but no doubt there is a lot of optimism for Wroclaw's future already baked into the prices! With so many people moving into the city in the hope of gaining a better (or any) job, it looks like it will just get busier and busier here. And believe me, it's already annoyingly overcrowded. People and cars everywhere from early morning like ants. I used to live in London and it seems more congested and chaotic and competitive here than my busy London suburb ever did. It's much busier than 4 or 5 years back.
Is some law coming into force from January, meaning that buyers will need to find more of their own money for a deposit or down-payment?I ask because I stumbled upon this in a newsletter, in Polish, which seems to say exactly that when I try to translate it.
Can I ask this again as no one answered?
Having checked flats and houses today, I recognise most of the houses from months ago, perhaps 8 months ago. As for the flats, many familiar photos, and the dates of original listing and updates show last year and early this year as the listed date.
The IMF has today said low interest rates, or rather ultra low interest rates for this prolonged period, are doing great harm.
theguardian.com/business/2014/oct/08/imf-low-interest-rates-financial-crisis-threat-speculation
I couldn't agree more. It's making a
malconomy or that's what I'd call it.