The BEST Guide to POLAND
Unanswered  |  Archives 
 
 
User: Guest

Home / Real Estate  % width posts: 1,844

Poland's apartment prices continue to fall


Wroclaw 44 | 5,389
9 Jun 2011  #61
"here you are", have a look, I have them written on my arse.

that wasn't very polite, was it ?

The prices In the cities will continue to fall until they reflect the wages of the Polish workers in Poland and its cities.

are wages not going up ?

Westerners invested blindly in Polish , Hungarian property etc.

developers don't sell according to nationality. they just sell. one can't blame them for taking advantage.

new flats these days are the walk in type. meaning no corridor/hall. they also have kitchen-livingroom combined, which gives a greater usable floor area. the flats are still small, cost less to build, and most importantly, not dropping in price. at least here in wroclaw.

the only thing that will bring prices down is the banks when they stop offering credit, because clients can't afford the repayments. no sign of that here in wroclaw.
Englishpoznan 4 | 102
9 Jun 2011  #62
No, It will not. The prices In the cities will continue to fall until they reflect the wages of the Polish workers in Poland and its cities

You my son are living in a dream world! I have read your tosh on this forum for so long now you are like a broken record and not one thing you have predicted has ever come true. In ten years time you will still be claiming that there is this big bubble and you still won't own a property, sorry to say but you are really boring mate.
milky 13 | 1,657
9 Jun 2011  #63
are wages not going up ?

In the West??hell no.

one can't blame them for taking advantage.

I agree

not dropping in price.

yes they are..How much are the Golden members paying for those lies??
Warsaw's average apartment price is down 10% from the peak of Q2 2008, but in Wroclaw prices are 30% down, in Poznan 25% down, and in the Tri-City of Gdansk, Sopot and Gdynia, prices are 22% below their peaks.

globalpropertyguide.com/Europe/Poland/Price-History

sorry to say but you are really boring mate.

Sorry, am I suppose to make you happy??
Englishpoznan 4 | 102
9 Jun 2011  #64
No, did I say you were?

Just out of interest how much are you hoping/claiming the property prices are going to fall within the next few years? And do you think you will be able to afford to buy when they hit this level that only you seem to believe in? Have you ever owned property anywhere?
delphiandomine 85 | 17,823
10 Jun 2011  #65
in Poznan 25% down

More lies.

Poznan is about 8-10% down from the all-time high for older blocks (for example, Rataje/Jezyce/Piatkowo). The newer blocks haven't budged at all - in fact, they seem to still be rising.

globalpropertyguide.com/Europe/Poland/Price-History

That link is nearly a year out of date and shows that house prices climbed massively and only fell back a short way.

Mark, buying a property in Poland is the same as everywhere else. You work, along with your partner, and then you can afford a house. Simple.
alexw68
10 Jun 2011  #66
Poznan is about 8-10% down from the all-time high for older blocks

Exactly - all these figures are broad-brush and make no distinction on the basis of property type. Wielka plyta has been on the way down since around 2005, not because of a collapse in the market, but because there's better property available. If in a given month the majority of sales are in wielka plyta, of course prices will appear to go down.

See statistics 101 - sampling error.

PS agree that prices have gone down - but 25%? Nah, sorry.
Avalon 4 | 1,068
10 Jun 2011  #67
Mark does not state facts, just wishes.
poland_
10 Jun 2011  #68
That link is nearly a year out of date and shows that house prices climbed massively and only fell back a short way.

There are sources out there, suggesting a further weakening of the market.

poland-vacations.com/174/2011-0169/poland-estates-en.html
Harry
10 Jun 2011  #69
It's more that the market has refocused. A couple of years back people were building stupidly expensive stuff and it was flying out as fast as they could knock it up but now developers are focusing more on affordable properties and smaller sizes. I'd expect to see below inflation growth in prices in most cities this year but number of sales going up by a larger percentage than the increase in price.
Avalon 4 | 1,068
10 Jun 2011  #70
There are sources out there, suggesting a further weakening of the market.

Just read the link you posted but cannot say that just because there is less demand for properties already on the market, that this is a reason for a decline in prices. 95% of the properties advertised are rubbish, overpriced and would find it difficult to sell at even cheap prices.

When I first came to Poland in 2002, I was going to build my own house (being a builder for 30 years it would be easy) but continually got messed around when trying to buy a decent plot of land, I would agree a price for the land, get planning permission and then the landowner wanted more money because his friends and family thought it was worth more. (This happened a couple of times and wasted months of my time)

Anyway, after 2 years of this crap, I started looking for a house to buy as I was not getting any younger. I started looking in earnest for a place for a further two years but could not find anything that I liked, then I found out a new baby was on the way and really panicked, had to look further out of the town than I had before but managed to find my semi-perfect house by accident, there was a "For Sale" sign on the gate. The couple who lived in/built the house had spent 3 years in the UK when they graduated from university, so, the build was more or less of an English design and quality.

When somebody buys a flat/apartment, they know that all the rest of the building is roughly the same, quality wise. An individual house is something different, it has to feel right, it has to meet the criteria for growing kids and for when you get older and cannot manage the stairs etc. A house is a long term project, even the way you landscape the gardens is a statement of your own personality and is carried out over many years. I know in my heart that if I had bought any of the houses that I had previously viewed, I would have ended up demolishing them and starting from scratch as I would never have been happy.

Sorry this was a bit long but wanted you to know from a personal experience how hard it is to find the right place.
poland_
10 Jun 2011  #71
This happened a couple of times and wasted months of my time)

Avalon, I have had my fair share of wasted time, while in the process of buying property in Poland, so I understand you entirely,
Just as an odd on to your house hunting account in PL. The house can always be restructured to suit your needs 95%, although the plot is what it is, of course you can landscape and plant trees, location is still location though.

there was a "For Sale" sign on the gate.

This is my practice as well, walk around an area and spot the for sale signs and contact sellers direct. If I was a freshman in PL, in this day and age, purely because of the availability/glut in certain areas, I would consider renting for six months, research and identify. There is quite a bit of crud out there, especially houses built in the 90's(cheap materials)

It's more that the market has refocused

Absolutely, so this is the reason the banks have adjusted their lending policy.

Very good points.
OP peterweg 36 | 2,315
16 Jun 2011  #72
I'd expect to see below inflation growth in prices in most cities this year

In other words, falling real prices.
Harry
16 Jun 2011  #73
Yes, falling real prices in general but not falling prices in general.

However, with that said some sectors will be seeing growth and others will see falling prices. The mid-market (5,000zl/sqm in cities like Szczecin) mid-size market is where I'd expect to see above interest growth and the market for large-size luxury flats is going to see further falls.

Frankly, if you're looking to invest right now, keep your money in the bank: you can get 7% with no risk at all.
poland_
16 Jun 2011  #74
market for large-size luxury flats is going to see further falls.

According to a developer, I have known for many years in Warsaw, they have just completed on a plot in Mokotow in a fantastic location and they will start to offer to the general public in 3 months if they have not sold out already. They will build 18 apartments 100-200 m2 (according to him that is what the market requires) price will be 20-28,000 PLN per m2. Also look at Residence Opera phase 2 ( dom deveopments) apartments 100- 180 m2 sold out. Bonifraterska 8, 14 apartments, sold out. The market for apartments of 120=-300 m2 is very strong in the center, Mokotow and Zoliborz, because of the high prices of houses.

Warsaw is very different to the rest of Poland.
OP peterweg 36 | 2,315
17 Jun 2011  #75
Frankly, if you're looking to invest right now, keep your money in the bank: you can get 7% with no risk at all.

Its an excellent interest rate, UK savers should take note, and the Zloty looks strong.
alexw68
17 Jun 2011  #76
Gonna get stronger now the central bank has no alternative but to raise interest rates again on latest inflation figures. (Not in the near term, because that's a bad sign, but it'll correct). Fill yer boots!
milky 13 | 1,657
18 Jun 2011  #77
How much would this house be in Poland??????????
daft.ie/searchsale.daft?id=563833
similar price Poland
rew1.com/en/Sale-House/semi-detached_house/Poland/Lublin_voivodeship/Lublin/1396896
average industrial wage Ireland 35000 Euro
Poland 7000 Euro
Minimum wage Poland 2 euro
and hour
Ireland 8 euro
hahahah
Avalon 4 | 1,068
18 Jun 2011  #78
Quote

How much would this house be in Poland??????????

Mark, anyone can use stupid examples.

dailymail.co.uk/news/article-2004295/Quaint-700k-thatched-cottages-sit-afford-them.html

average industrial wage Ireland 35000 Euro

You really are a fool.
milky 13 | 1,657
18 Jun 2011  #79
sorry Thatcherite,wake up from your economic wet dream and smell the truth..
ronanlyons.com/2009/02/04/public-sector-pay-in-ireland-the-e50000-question-its-not-that-difficult/

anyone can use stupid examples.

Ok, you use one so, Mr ........., to prove me wrong!!
Harry
18 Jun 2011  #80
Thing is Mark, we work and work hard, that is why a comfortable life in our own home is not just a dream for us. Why not try working sometime?
scottie1113 7 | 898
18 Jun 2011  #81
You all seem to know who Milky is, but I don't. Can you enlighten me?
poland_
18 Jun 2011  #82
As for people talking about real estate in Poland on PF, there are the usual suspects with their own views of the market (I am one of them)good or bad. On the issue of Milky v Mark Biernet, I have to say that Milky comes across as an Irish fella and: linkedin.com/pub/mark-biernat/6/400/465 states he is from the states. So I am missing something here...
milky 13 | 1,657
20 Jun 2011  #83
No you are not, the guys are snarking.
OP peterweg 36 | 2,315
20 Jun 2011  #84
You all seem to know who Milky is, but I don't. Can you enlighten me?

Basically he's pointing out that Polish house prices are vastly over inflated compared to wages, which is true. He's fighting a losing battle against the predictable Vested Interest's who use the 'its different this time', 'special case', 'jealousy' arguments with a large dose of person insults to hide their fears/hopes.
milky 13 | 1,657
20 Jun 2011  #85
large dose of person insults

big time..creating a distraction from the real issue. They will attack any minute now lol
guesswho 4 | 1,293
20 Jun 2011  #86
Polish apartment prices continue to fall

hey WB, do you know if Americans can buy properties in Poland? I have a bet going here and I'm trying to win $50.00. (I hope I'm right :-)
BritinPoland 6 | 121
20 Jun 2011  #87
Over on this forum, the bulls have gone very quiet lately housepricecrash.co.uk

I am seeing quite a few for sale banners and signs outside older apartments in Poland, as well as big signs outside the new blocks.

And as an outsider admittedly, still have observed the price per square meter in the cities here seems well out of step with average salaries, leading me to suspect high multiple mortgages are being loaned, high deposit values from families (or Bank of Mum & Dad as it's called in the UK) are being given, or foreign money is buying. High multiples and bad mortgage debts have huge dangers - some of you PMd me to say that Polish banks are very careful. If they turn out to not have been so careful, will the Polish central bank do a Mervyn King and slash rates to 0.5% and say to hell with inflation as they have in Britain, pretty much? I just wonder if Poland really is doing so well or is living in lala land like Eire was.

Blue touch paper lit I suppose, but had to get it off my chest.
milky 13 | 1,657
24 Jun 2011  #88
globalpost.com/dispatch/poland/110204/poland-economy-public-debt

From this article:

Poland's lucky streak has ended as it grapples with rising public debt and a stubbornly high budget deficit - while continuing to borrow money abroad.

OK

a Polish factory worker still makes about a fifth that of his German counterpart for essentially the same work.
OK

Real estate prices have settled down. The average price of apartments dropped by about 10 percent in 2009, a reaction to the collapse of real estate markets in western Europe and to the fact that average prices for a square meter of living space had soared above $3,000, putting housing out of reach for many average earners. However, since then the price falls have stopped, and buyers are beginning to return, helped by a government program aimed at helping poorer families buy their first apartment.

Is this 'government program' (Government/Developer scam)not just collusion with developers and their hyper inflated prices? Why not allow prices to settle naturally? and should the government be spending money to help developers?

"We're starting to see some life come back into the market. The crisis is definitely over for the sector," said Kazimierz Kirejczyk, head of the Reas property consultancy.

LOL....
youtube.com/watch?v=M_AZBQEvhYc&feature=related
Harry
24 Jun 2011  #89
Is this 'government program' (Government/Developer scam)not just collusion with developers and their hyper inflated prices?

No: it is cheaper to help people to house themselves than it is to provide housing for them.

Why not allow prices to settle naturally?

Prices are settling naturally: the scheme which you mention above is for the low-end of the market (i.e. the one which has seen growth all the way through the crisis).

Naturally, the prices are still out of your reach, but that is more a comment on you and your refusal to get a real job than about the price of property in Poland.
milky 13 | 1,657
24 Jun 2011  #90
No: it is cheaper to help people to house themselves than it is to provide housing for them.

It's funny how the hard core advocates of the free-market economy, deplore(ideologically) religiously, any governmental interference with the markets; unless it's 'interference', that benits "them".


Home / Real Estate / Poland's apartment prices continue to fall
BoldItalic [quote]
 
To post as Guest, enter a temporary username or login and post as a member.