The BEST Guide to POLAND
Unanswered  |  Archives 
 
 
User: Guest

Home / Real Estate  % width posts: 342

The current property boom in Poland is a bubble


MoOli 9 | 484
20 Jan 2013 #121
sorry, but it is important. There is a huge difference between a steady decline and a bubble bursting. And that is basic economics.

How simple can you explain them in english the differnce in price decline and bubble esp if they english teachers............
pawian 170 | 11,338
20 Jan 2013 #122
Do not turn down English teachers so easily. :):):)

You did at school and today you don`t know that one should use capital letters for countries, languages and nationalities. :):):):):)
Zibi - | 336
20 Jan 2013 #123
explain them

LOL, what a construction.... poor english indeed here!
MoOli 9 | 484
20 Jan 2013 #124
You did at school and today you don`t know that one should use capital letters for countries, languages and nationalities. :):):):):)

Totally OFF TOPIC.But agree that real estate prices are declining :))))))This aint a inglush tiching TOPIC!
peterweg 37 | 2,321
20 Jan 2013 #125
But what people are posting here, with no real estate knowledge or experience,

Apparently with your 'real estate knowledge' you feel entitled to deny reality and propagate ********.

Which is par for the course for a industry whose survival depends on lying.

It doesn't follow the rules of the rest of the world...

Yes, the old jokes.. "Its different this time", "but, but, but my house is special"
pawian 170 | 11,338
20 Jan 2013 #126
and many people also need to understand that Polish real estate is an enigma. It doesn't follow the rules of the rest of the world....otherwise it would have exploded by now.

Almost nothing in Poland follows the rules of the rest of the world. We are one and only.

Totally

Don`t be silly. You brought English teachers into this thread, not me.
Btw, do you have any education at all? Your English is alarmingly bad for a native speaker.

LOL, what a construction....

Yes, I didn`t notice it at first but really, the guy drops amazing errors.
peterweg 37 | 2,321
20 Jan 2013 #127
Btw, do you have any education at all? Your English is alarmingly bad for a native speaker.

He's from India I believe. In theory they speak English, but not like the English or Americans.
poland_
20 Jan 2013 #128
Which is par for the course for a industry whose survival depends on lying.

All industries bend the truth its call marketing.The worst is public relations that is 90% bull...t. and spin.
pawian 170 | 11,338
20 Jan 2013 #129
In Ireland, a house or apartment now costs 14 × an ordinary adult yearly wage to own

Another interesting thing. How many yearly salaries does a flat cost in Poland now???

I am sure it is less than 14.
peterweg 37 | 2,321
20 Jan 2013 #130
I am sure it is less than 14.

There is a report about it somewhere, but its over 14 in some cities
pawian 170 | 11,338
20 Jan 2013 #131
but its over 14 in some cities

Yes, true, but in towns and countryside it must be less.

BTW, did they take brutto or net earnings when talking about Ireland? Which is more popular system of counting it?
pip 10 | 1,661
20 Jan 2013 #132
pip: But what people are posting here, with no real estate knowledge or experience,

Apparently with your 'real estate knowledge' you feel entitled to deny reality and propagate ********.

Which is par for the course for a industry whose survival depends on lying.

oh please. do your research and you can see for yourself. I have never denied that prices were going down. NEVER. Go back and look at everything I have posted. I have said from day one that there will be a steady decline, which is what is happening. NOT A BUBBLE----which is not happening.

And what industry doesn't depend on lies? Politics? Medicine? Sales? tell me, please.
Grzegorz_ 51 | 6,163
20 Jan 2013 #133
Yes, the old jokes.. "Its different this time", "but, but, but my house is special"

The market here is indeed slightly different than in some other countries but that's not any magic... It's a matter of law... In Poland If you have 300k debt on a flat worth 200k, It's your problem, not the bank's.

Yes, true, but in towns and countryside it must be less.

Yes but in some towns someone making 3k a month is "rich".
milky 13 | 1,657
20 Jan 2013 #134
There is a huge difference between a steady decline and a bubble bursting

hahhahahahahhaah

I am sure it is less than 14.

For a family home- 3 bedrooms, between 14-20 times the most common wage in Poland.

And what industry doesn't depend on lies? Politics? Medicine? Sales? tell me, please.

well!at least she admits it.
Looks like the bandits/lobbyist failed with their bribing, as the Home grant has been basically cancelled; probably due to pressure from the IMF to cut on spending. Prices will go down much quicker now.
InWroclaw 89 | 1,915
20 Jan 2013 #135
Question is, if the NBP keeps cutting interest rates, will that start to support property prices again?

Also, just checked the prices of houses here in my part of Wroc. The prices do not look cheap to me -- GBP150K for a 140m2 house? How's that cheap, for Poland? Not 100% sure, but I think the prices are actually north of the last time I checked a year ago! I couldn't swear to it but I seem to remember better value last time.
Grzegorz_ 51 | 6,163
20 Jan 2013 #136
Question is, if the NBP keeps cutting interest rates, will that start to support property prices again?

No, the primary problem these days are not the prices or costs of loans but unemployment and lack of confidence on the labour market... people will not be taking mortgages If they know once they lose a job, It will be extremely difficult to find a new one.
milky 13 | 1,657
20 Jan 2013 #137
It will be extremely difficult to find a new one.

Yes, and with the Bulgarians and Romanians entering the UK market it will reduce chances of Poles getting work there and quadrupling their wages, all the signs are pointing to further prices drops and to a much lager extent than before,

The prices do not look cheap to me -- GBP150K for a 140m2 house?

The prices of houses in Poland are outrageous, unless they are in sh1te and in the middle of nowhere with zero chance of finding a job with livable wages.

I couldn't swear to it but I seem to remember better value last time.

The asking prices may be similar but the actual prices are significantly lower (17-20 %). Now with the scam grant gone offer 40% less.
pip 10 | 1,661
20 Jan 2013 #138
pip: There is a huge difference between a steady decline and a bubble bursting
hahhahahahahhaah

clearly you are a fecking idiot if you don't know the difference. Do you own a flat? do you own anything? are you in real estate?

don't bother answering, I already know that you don't and you aren't.

so everybody, please listen to what? and English teacher in a secondary city of Poland as opposed to somebody with real estate knowledge and experience.

And this is why we own property and are not in debt and you do not.
InWroclaw 89 | 1,915
20 Jan 2013 #139
No, the primary problem these days are not the prices or costs of loans but unemployment and lack of confidence on the labour market... people will not be taking mortgages If they know once they lose a job, It will be extremely difficult to find a new one.

When a central bank cuts rates, its plan is to stimulate growth and jobs, and so reduce the chances of unemployment by allowing firms to borrow at a reduced rate and keep in business/not go bust. That increases the chances of a person keeping their job. As mortgage rates drop, it tempts people into mortgages. Now, of course, the theory doesn't always turn into the reality, but that's the risk when interest rates are cut. In plain terms, Pan Punterski says: "Oh, my employer is borrowing cheaply and continuing to operate. My job is safe. Oh look, I can get a mortgage cheaper than a month ago, I'll buy!"

The asking prices may be similar but the actual prices are significantly lower (17-20 %). Now with the scam grant gone offer 40% less.

Could you explain about that grant again, please? What discount did that grant give a buyer? Was it called Family xyz something? Is it now gone but coming back in 2014 instead of this summer? Even if I offered 20% less than the asking price, they still seem expensive, unless GBP (I am from the UK) strengthens significantly. I think you're from Eire and your euro is still strong -v- Zł. My lot in the UK are stuffed thanks to Wizard Mervyn and his magic printing press which at times impacts negatively on GBP -v- Zł.
peterweg 37 | 2,321
20 Jan 2013 #140
Poland as opposed to somebody with real estate knowledge and experience.

Nobody is going to listen to you, after all you have just admitted you lie to promote property.

You think having a husband in property means your opinion has higher value than a normal human who couldn't care less about your obsession with 'bubbles'?

Your 'real estate knowledge' come from having a vested interest in lying about the state of the property market.

Prices are collapsing in Poland, any idiot can see that.

10x average earning is a property bubble, never mind 20x So yes, the bubble has burst and it will deflate at the rate it wants to - not by your ridiculous definition.
InWroclaw 89 | 1,915
20 Jan 2013 #141
10x average earning is a property bubble, never mind 20x So yes, the bubble has burst and it will deflate at the rate it wants to - not by your ridiculous definition.

I wish it would hurry up, I ain't getting any younger waiting around. Checking the prices of houses round here this weekend has seriously dented my confidence in any market weakness. However, of course there are yellowed for sale banners dangling from many houses and flats, but if the vendors are reducing the prices then I can't detect much change so far. And if I look to the prestige area of Biskupin, I see prices that are higher than some of the very best streets in my UK (southern) home town.
pip 10 | 1,661
20 Jan 2013 #142
I am not lying to promote anything. I am not in real estate. In Poland people lie, in the rest of the world their are laws against it.

no, me having a husband in real estate gives me perspective of what actually goes on in the market. not what is written in a biased article.

my real estate knowledge comes from having a husband involved in real estate as well as owning and selling various properties in Poland.

Prices are not collapsing. They are declining steadily. big difference. particularly to investors and buyers.

it is not my ridiculous definition. it is a definition that has been posted here, time and time again by wikipedia. not by me. If it deflates at a slow rate then it is, by definition, not a bubble. a bubble pops. hence the name bubble. so if once the market hits its peak price then slowly declines it is not a bubble. which is what it is doing now.

Poland is not experiencing a bubble.
It is experiencing a slow and steady decline which is a world of difference for buyers, developers and sellers. Not to mention a saturated market as compared to the market when prices were at their peak.

but then again, if you had real knowledge about the market then you would know this. just because you believe something, doesn't make it true, but keep going with the bubble theory- it looks like this bubble bursting theory has been going on for years......

I wish it would hurry up, I ain't getting any younger waiting around. Checking the prices of houses round here this weekend has seriously dented my confidence in any market weakness. However, of course there are yellowed for sale banners dangling from many houses and flats, but if the vendors are reducing the prices then I can't detect much change so far. And if I look to the prestige area of Biskupin, I see prices that are higher than some of the very best streets in my UK (southern) home town.

exactly, if it were a bubble then the prices would be a lot lower- a lot faster.
In Warsaw, I have seen some flats for 4100 pln m2. I am willing to bet they will go as low as 3800, maybe even 3500 in some areas. Praga could see 3200. And that will be as low as it will go.
gumishu 11 | 5,181
20 Jan 2013 #143
Prices are not collapsing. They are declining steadily. big difference. particularly to investors and buyers.

and the buyers are waiting what comes next unless they are desperate to buy which renders the situation for sellers not to be envied (they need to steadily lower prices)
pip 10 | 1,661
20 Jan 2013 #144
as buyers in Poland, it is a good time to buy. The market is saturated and sellers are having to lower their prices and offer bonuses. Only in areas that has little or no opportunity for development will the prices stay the same. Something like Powisle in Warsaw. The prices are still from 7,000 to 10,000 m2 for a flat--even in an old block.
gumishu 11 | 5,181
20 Jan 2013 #145
as buyers in Poland, it is a good time to buy

it is a good time to wait until the prices fall down even more which is sure to happen - otherwise you will buy an overpriced piece of real estate - the sellers will get even more desperate in time no worries
milky 13 | 1,657
21 Jan 2013 #146
Bubble denial is slowly becoming less popular among the "it's different here brigade".
InWroclaw 89 | 1,915
21 Jan 2013 #147
As Milky and Peterweg plus maybe others have me on Ignore, I'll ask again to the whole forum:
peterweg 37 | 2,321
21 Jan 2013 #148
As Milky and Peterweg plus maybe others have me on Ignore,

Not ignoring you, I don't know the answer. Other than I earn too much and I'm not a first time buyer so its of no use to me.

Your best option is to keep waiting and consider buying out of town, where it can be much cheaper.

Or buy where foreigners are banned from buying without the permit.
InWroclaw 89 | 1,915
21 Jan 2013 #149
Your best option is to keep waiting and consider buying out of town,

Thanks for posting, good to hear from you.

I don't want to buy out of town, I would feel lonely and cut off.

In the near term, I need to get another rental and as usual I have an eye for property at the right price in the right street -- one I picked out on Gumtree got 399 page views in just over 24 hours and has of course let to someone else. Anything decent (to rent) at a fair price or with fair monthly service charges seems to fly off the shelf. My main incentive for wanting a new rental is the hope I'll then get my PESEL at long last but also to get away from considerable noise nuisance issues.
MoOli 9 | 484
22 Jan 2013 #150
Did you consider a commercial then a residential?lots of properties yield 8 to even 10% of your investment and less hassle dealing with them renters?plus the silent property rise in 15 yrs or more is 10% also.While residentials dont have ROI over 5%?

Or buy where foreigners are banned from buying without the permit.

lol! thats not the case anymore dude.Poles also have more or compatable money to beat you if you implying that they have more money to raise prices.


Home / Real Estate / The current property boom in Poland is a bubble
BoldItalic [quote]
 
To post as Guest, enter a temporary username or login and post as a member.