Buying an apartment in Poland or renting is better?

I am medicine student going into my second year in Bydgoszcz. I was tossing around the idea of buying an apartment, instead of renting, and then perhaps renting it out to new students afterwards. I know the real estate market is not going too well right now, but is it expected to fall even more? Your opinions are greatly appreciated.

Regards,

Fredrik

Here's the report for July

ober-haus.pl

prices will go down for good while longer.

The graph you are referring to actually does not seem to suggest that. Rather that they are reaching plateau. From what I remember from technical analysis after that they can go either way.

Remember - that situation on Polish market changed after accession to EU, which created increase in property price (given the time lag it takes to earn some money...)

I think that to have real comparison you have to look at specific standards and prices on European market. A nice, modern 2/3 bedroom apartment (let's say 75 sqm) will probably will probably cost similar in most European cities (OK, there might be certain level of differences between Paris, London and Warsaw, but the differences will be smaller when you look i.e at Berlin, Budapest, Prague and Warsaw). People that can afford more, will go for better standard, that's why properties in western countries are generally bigger. People that can afford less, will go for lower standard or smaller place. OK, this is going to create movement on the market, but long terms prices will equalize. The issue is - you can't look at historical prices and expect that prices will go down to the previous level. This will never happen. Property market changed in last 10 years and there is no going back, unless something very drastic happens.

The way I interpret this graph? I think prices might go down a bit more (not much) then stay there for a little while and start going up.

The voice of reason. Now expect to get rebuked by Milky because you do not agree with his long time predictions.

God milky you are so boring.
All you ever post are these hopeful little statements that one day property prices will come down.
So you missed the boat.
Get over it.

And yet he in a way may be right ... Imagine a realbig crisis coming down onto Europe and the US, then prices of all assets, including property, are destined to slide down ...

What about the 1930s in America and in Europe? Does anyone know how far did the property prices slump down as a result of the Great Depression?

I hope you don't mind me standing up and applauding that post.

This would be called a "standing ovation". But about the property prices slump in the 1930s? Did it happen or not?

Recently I was watching an American documentary in which it was shown that two or three days before the arrival of the Black Thursday on Wall Street, leading US economists were convincing everyone who wanted to listen that the economy was under full control and that the "American dream" was in a better shape than ever before! Is it going to happen again?

What goes up, must come down, you stupid Bill !

only answering a question. Don't shoot the messenger. The graph speaks for itself.

Well, they're a little difficult to trust (despite their motto!!) when they can't even be bothered to issue a report written in proper English..

Too many economic issues point towards more decreases IMO, especially in the over 60 m2 range.

I'm noticing one trend - the prices are coming down for "luxury" developments, while prices are stable in older developments. Not a surprise, really.