Really? keep telling yourself that nobody is buying them cos they are crap... FGS polish people are used to living in Blocks, delapidated properties and concrete boxes. A shiny new apartment (even badly designed) has to be an improvement for millions of them?
Hardly an improvement if your 25 year investment looks barely fit to last. I've seen examples of nice new apartments falling to bits with large cracks in the wall/etc after 18 months - do you think any Pole in their right mind is going to buy such a thing?
Do I really need to show you the drop in prices in Poland over the last year? Take a walk outside and see the for sale signs and empty apartments
The drop in prices can actually be attributed to the toughening of the mortgage criteria and the drying up of CHF loans. Nothing to do with the market as such, but rather a change in mortgage conditions.
affordable to who? the people working in the local government offices?, the girls in beidronka?, the hotel and restaurant workers, shop workers, people working in factories making cheap plastic goods or polish doors and windows?... who are these people with the money? you sound like Peterweg!
I think it's pretty obvious that you don't have a grip on how Poland actually works. Let's see -
Local government offices? It's as secure a job as it gets. A couple working for the local government would easily have an income of around 4000zl after tax - which is more than enough to get a mortgage on a 2-3 bedroom property in the vast majority of places. No problem there.
Biedronka? They're pretty much the lowest of the low. What gives them the right to own property, given that they didn't educate themselves, didn't do anything for it and don't do anything particularly difficult?
Hotel and restaurant workers? Again, in what country do such menial workers expect to buy property?
What country in Europe actually lets such people buy property?
In Poland, just like everywhere else - it's the middle classes that buy property. The working classes in the UK only managed because of the right-to-buy - if ti wasn't for that, most of them would still be renting from the State.
The other imposing physical problem is that they are still occupied by residents as before the changes.
Indeed. Poland is riddled with people who live in large flats by virtue of being well connected during Communism. Look in Wroclaw - the centre is hurting terribly because of such people.
We don't even talk about how flats lie empty because they inherited Babcia's flat and they think it's worth much more than it is. I lost track of how many flats I looked at that were exactly like that - Babcia had died, the flat needed total renovation and they still wanted 25-30% more than the rest.
But - to all the usual suspects - why do you think that the Biedronka worker has a right to buy a flat?