Poland's apartment prices continue to fall

so why the huge drop in asking prices if everybody is so relatively well off and middle class?

The slowdown Pip was always predicted to happen after Euro2012, 2013 more precisely.

the prices were already inflated - 2008 prices. Now they are coming down slowly to more manageable asking prices--because the market is saturated and people are able to be more selective with their purchase.

Developers are having to throw in some add ons in order to make the sale--free parking spot- perhaps a bigger flat for the size of a smaller one. There is a developer close to me that will give a mini cooper with the purchase of a house.

a decline in price doesn't make it a bubble.


Ok, I will watch and wait to see what happens.

buyers that can afford to mortgage hundreds of thousands of PLN, along with coming up with the down payment. I think this forum continues to forget how much better you all earn compared to probably 90% of the country.

for people with cash, yes, it's great for them to see the prices dropping, but for the millions of poles that live in a tiny apartment or old run down house they never had to pay for and never would have been able to afford, eventually them or their children will have to buy something....and that's when the prices will need serious adjusting. the bare minimum for a family of 4 in Poland is 50 sq. meters (which is still absolutely awful) and there will have to be affordable housing for those that make crap Polish wages, which will bring the price of 50 sq. meter apartments down for everyone.

the property "bubble" in Poland will be when commie buildings are no longer inhabitable. people gotta live somewhere.

You ever heard of the word ' leverage'...

50 sq metres is only small to westerners that have different spacial needs. That is really a two bedroom apartment--and families have been living in these long before communism and not only in Poland.

Are you sure ? I havent seen that yet ! I know obviously Provident are doing good business here but I didnt know the payday loan thing has started in Poland. Bad sign if it has.

As for whether 50 sqm is big or small then try doing your marital duties in the bedroom with the kids sleeping in the lounge/kids bedroom and then all wake up to share your 10sqm kitchen and 6 sqm bathroom. Lived like this for a few months and it soon gets tiresome.

I think he's living in the UK and getting confused with Poland for some reason. I certainly haven't seen moneylenders opening in closed shops - sure, there are plenty of those small "agencja" places that pay your bills for you, but that's it.


I think you're still clouded by the fact that you were misled into believing that nurses and policemen are middle class in Poland.

When you learn who actually is middle class and who isn't, then we can talk.

2 parents, 2 children. Somebody's sleeping on the couch. Everyone should have "larger" spacial needs.


make your point.

Why?

It's not exactly abnormal for children to share a room in Europe if they're of the same sex. If they're of different sex, then most parents simply work harder and get a bigger place. Not rocket science.

Yeah, those millions of Poles living in little apartments in communist blocks, they all should have a good sit down with Delphiandomine. Let them all know they just need to work harder and go buy that big house in the hills.

"I mean guys.....it's not rocket science!"

If they choose to enter low-paid, working class professions, why should they get more in life?

And again - you fail to realise that this sort of thing is normal in Europe as a whole. It's not unique to Poland - ask yourself what "2 up 2 down" means, and why it holds a significant part of British culture.

Delpiandomine... wrong again. In the UK you'll be hard pushed to find any 2 up 2 down left. In fact those that are usually have a whopping great extension on the back. Then again a 2 up 2 down (with extension) gives a kitchen, dining room, living room, 2 bedrooms, a bathroom (about 70-80sq/m) and a back garden... a bit more then the old communist blocks 32sq/m.

I wont explain the housing ladder to you again as you fail to grasp even the simplest of explanations.

but your point about the housing ladder simply doesn't apply to everyone. And certainly not in Poland.

Still trying desperately to prove that the UK is far superior, are we?

Anyone who knows anything about the UK knows that 2 up 2 down properties in the North of England in ex-coal towns tend to be thoroughly miserable.


It doesn't apply at all in Poland, a country where mortgages were pretty uncommon until what, the start of the century?

I'm still wondering where these "money-lending" shops are that he talks about.

Pip - I'm convinced he's actually talking about the UK, because his rantings don't seem to have any relation to reality here. Do you see many 32sqm flats around? I don't...

How doesn't it apply to everyone?... it affects everyone. OH i forgot Poland is unique!


Of course there are no 32sq/m apartments!!!! none at all!!! As for the money lending shops take a google maps walk through the centre of Gdynia. There are about 7-8 that i can thuink of that have sprung up over the last 2 years.,,,

You'd be hard pushed to find 32sq/m apartments in the uk as we don't buy by size, we buy in the uk by rooms. Also in the UK a higher amaount of people live in houses.

There are a few, but not that many. Studio flats in the UK aren't bigger, anyway.

Show us. I don't know Gdynia, except where my friend lives.


Indeed. And plenty of tax money goes to subsidise those living in houses, too. None of that nonsense in Poland.

That's because plenty of UK tax payers money is subsidising Poles!! How many Polish kids living in Poland are supported by the UK tax payer? (50,000??) As usuall the British Tax payer pays for all of the scum of the earth!

I think you'll find that any money paid to Poles is a drop in the water compared to the massive amount of bloodsucking British leeches in the system.

For what it's worth, it's well documented that the Poles have actually done a lot to improve urban wastelands.

So nett contribution of 1.9b euro...the UK government just gave the eu 1.5billion pounds yesterday!!! ... Poland in 2009 took nearly 7 and the figure has risen since then.

The British government has only take more from the EU that it gave once...in 1975. Which was coincidentally the year of the EU referendum. The EU costs the UK around 118 billion each year (including trade deficit) the EU couldn't exist without the UK... it could without Poland!

telegraph.co.uk/news/worldnews/europe/6198708/EU-costs-Britain-118bn-a-year.html

Let me know your source for the UK begging to joining the EU... because by my recollection it wasn't called the EU back then (of course a Pole wouldn't know this) It was called the 'common market'.. Entry was vetoed by the French in 1962 and 1967 but on the 3rd occasion the UK joined. In fact the UK refused entry at the inception of the common market but changed it's mind after the Suez conflict. However, the French vetoed the UK member ship as it said that the UK had too close ties with the US and would be detrimental. It was French anti-Americanism (scared of US food imports hampering French production - they still hang on the the CAP today) that stopped the UK joining and nothing else.

So before you spout off about UK history get your facts straight or read it from a non polish source!!

1.9 billion Euros!!! you make me laugh! Ever considered a role in comedy?

The choice Polish people make has nothing to do with the point I was making.


This has nothing to do with Europe as a whole. YOU fail to recognize that we're talking about Polish reality and that's it.

Like I said dude, make your point.


EXACTLY. The mortgage thing is new and the Polish economy is not ready for it to become "the norm".

Good to see this thread re-open. People may disagree but the topic must always be discussed. Long live democracy,for all that's left of it.

The "Polish reality" of your inlaws and relatives has nothing to do with the reality for many Poles. That's where you keep going wrong.


But it is the norm already. It wasn't before - but nowadays? Quite normal.

It will only increase as people sell off Babcia's flat to pay for the downpayment on a house.

come on lads stick to topic

Not sure if this is accurate, but MoM broadly up 0.39%
tabelaofert.pl/real-estate-prices?locale=en

I hope Poland is doing a Britain '05 number on us - prices of housing were already hideously high, we all thought "bubble" - and yet prices rose until 2007, and in some areas have risen since 2007. All of which makes the property prices in the UK during 2005 now look like bargains for much of the South and South-East of Britain (and of course especially London).

IF that is happening in Poland, it will make the current apartment prices in the cities seem like shared ownership prices.

I hope to be wrong. I hope to be very wrong!
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I'd ignore that website, its a real estate web site (biased) and its shows asking prices. To put that in context Rightmove in the Uk has average asking prices of £246k.

Whereas average selling price is £165k. Thats a lot of bullshit.

so Polish or half Polish kids in the UK are the 'scum of the earth'?
Thanks alot. I bet your wife will be happy when she gives birth to the scum of the earth. If she hasn't divorced you by then.

He hasn't got a Polish wife and he doesn't live in Poland, he just another pig ignorant troll with nothing better to do than whine about how Poles are stealing his life.

If they get influenced by some of the rather ill-mannered locals [in the UK] they could become just the same. The young Polish children I have met in Wroc have mostly been very well-mannered and greet me respectfully, so any rude Polish children in England will be more the product of the local environment there and/or their parents slipping into the same ways. Most of the Poles I met in the UK since '04 were fine, btw.


But above you stated you think prices will start to rise from next year or 2014? If so, then do you think it will soar like some of the UK did until '07?

Polands property market is driven by speculators who live here and are asset rich and debt free. The UK was driven by low interest rates used as stimulation after the dot com boom crashed.

If interest rates come down and lending criteria eases in Poland prices will rocket. However, Jan Vincent-Rostowski is no fool and should prevent that happening otherwise Poland will end up like Ireland.

so ... maybe, maybe not.