Demand for apartments low in Poland's main cities

That's what I want. I live in it. Unfortunately, it's in Gdansk in Old Town and the owner hasn't yet decided if she wants to sell it or not. She knows I want it, and I'm I'm first on her list. It's only a question of price.

don't act desperate with her!! she is going to highball you for sure!! we have a family situation with my husbands house in Sopot. it has been divided into three and the crazy aunt sold her piece- now my father in law wants to buy back the third and the current owner asked for twice its market value. now there is a court battle.

yes,quite reliable ,I reckon. Why? you prefer Mandom.... I think you might eh..

Look Mark, you've made you prediction and I've offered you odds of ten to one against your prediction coming true. Now put your money where your mouth is. Put up or shut up.

You wouldn't know it in Wrocław! There's so much building going on.

I'm not, and she's in no hurry. I've been living here for 3 1/2 years. It's all good.

there is loads of building going on everywhere- there are still homes being sold but they are getting closer to market value instead of the inflated prices of 07, 08. However, there is no bubble. it is a leveling of prices because of a saturated market.

Milky would like to know why the developers are still building if the prices are going to fall by 50%?

there are more and more people with more money. i don't think prices are going to come down much, if at all. housing in wroclaw doesn't seem to to be getting any cheaper. (it's around 7,000zl per sq/m on new build apartments near me).

Would you mind holding the money if Mark does decide to accept my offer of a ten to one bet?

he won't do it.

i just wonder about half-sold blocks. current owners bought at the high rate, but half the block is still empty.

are developers going to reduce the price of the remaining apartments by 20% ?

i doubt it as it would cause financial havoc.

Wroclaw

one strategy may be to keep the price the same but add sweeteners (free parking spot, finish the apartment, free kitchen) - effectively the prior buyers may be a 'little' less upset

A very good suggestion but they will not do this until its absolutely necessary.

Hey!!! are you agreeing with Harry that I am an American called Mark??? Are you not suppose to be a moderator.??

Please stick to topic....

Demand for apartments low in Poland's main cities.

but that is not what it is. the market is saturated. People are still buying- just not the same way they did in 07, 08. If the market is saturated than buyers have more choice.

According to today's Gazeta Wyborcza.

Asking price in Wroclaw in September was 6746, actual selling price was 6367. So its already 10% lower than what you believed. That's of course what Pip would refer to as a levelling out.

You are the one claiming that prices will go down "+20% this year". You claim that that is your bet: so make the bet.

Seeing as you won't take odds of ten to one, I'll now give you twenty to one (i.e. if you win you get 1,000zl but if I win I get only 50zl) that not even one city in Poland will see falls of more than 20% in all price per sq. m bands and all flat size bands this year. Come on, money where your mouth is.


Demand is still high. The problem is that people can't borrow the money that they need to buy the properties they want.


You mean that it is usually possible to negotiate prices when buying property? Well who 'da thunk it?!


You're assuming that he lives where the average prices are and not in one of the nicer bits or in the city centre. I wish that prices in the neighbourhood I want to buy in were the Warsaw average!

He has already said that he does not gamble and yet you continue to behave like a kid in a playground. But the terms you have set on your bet are ridiculuous - if there are 5 price bands or 5 size bands and 4 of them fall by 50% but one by only 19% then you win. And in any case data would not be available.

So how about a more reasonable bet - that in 6 of the 7 towns on the front of todays property section of GW the average selling price falls by 20% by October 2012 ? Still happy to offer those 10-1 odds ? money where your mouth is and all that.

He said "Prices will go down +20% this year, is my bet." But when given the opportunity to place his bet and do so at very favourable odds, suddenly he gets all shy.

Which cities are those? And how are you planning to adjust for the fact that the focus has switched to lower cost developments (which will obviously drive the average selling price down).

for those who keep at it with the "bubble" crap. fyi, my information comes from a Wroclaw builder and residential expert who spoke at a real estate conference in the north of Poland last month.

warsaw, krakow, gdansk, lodz, katowice, poznan, wroclaw

I'm not planning to adjust it. Thats the bet I'm offering. If there was demand for higher price units then they would be the ones being built.


so no vested interests then ?

I live in Warsaw and have never met the man- nor have I ever been to Wroclaw. my husband was also speaking but he is in commercial. no vested interest.

I dont mean your vested interests, I mean the builders vested interest ! :)

So you are offering one to ten (i.e. my hundred wins me ten) that average residential sale prices will go down by more than 20% in at least six of Warsaw, Krakow, Gdansk, Lodz, Katowice, Poznan and Wroclaw? Assuming that:

a) you mean inside city limits only;
b) we are talking only about multi-appartment properties;
c) we are talking sale prices, not asking prices;
d) we are talking PLN prices only;
e) your data is from a reliable source,
I'll put a hundred zloty down on that bet (and would love to lose it too).

Two questions: what source are you proposing to use and is it Gdansk or Tri-City?

when i said 7,000 i meant 7,000. the picture tells it all. (photo by wroclaw)

• 
  September - 7,000zl
  

Nice photoshop skills!

it's the real deal. the picture was cropped and nothing more.

actually, it's on the north side of the river... about 100m from university bridge... opposite Park Plaza Hotel.

just looking at this place- it seems to me that it would be mostly small apartments for sale.-50 m2 and less. nothing like 100 m2 and above. This size apartments are still selling and will continue to sell.

I saw an advert for 4500pln/m2 in Krakow the other day.

metaphorical speech, In Ireland we say this several times a day,does that mean we are racing down to the bookies every hour.


This whole reply to cms sounds like you are going chickensh1t.
'ah but but but only if you agree to bla bla' .......hahahahah