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foreign currency property - issues faced when buying a property in Poland


rt3d 10 | 46
29 Sep 2010  #1
What are the issues faced when buying a property in Poland?
With foreign currency.. is this feature proof and does this affect the value of the property
E,g CHF

Thanks
Wroclaw Boy
29 Sep 2010  #2
Thats not a clear cut question my man.

The price is the price usually in PLN if another currency it would most commonly be the Euro, CHF is usually used for mortgages not prices of property. Does one have a CHF mortgage?
OP rt3d 10 | 46
29 Sep 2010  #3
What are the issues faced when buying a property in a foreign currency.. are these currency feature proof based on the value of the property

when considering the exchange rates over the time period of the mortgages.

E,g CHF or would the value of the property decline to PLN

Thanks
Plastic Pole52 - | 67
29 Sep 2010  #4
I don't understand.Seriously what is your question dude?
Wroclaw Boy
29 Sep 2010  #5
What are the issues faced when buying a property in a foreign currency

exchange rate fluctuations on mortgage repayments.

are these currency feature proof based on the value of the property

No, the lender shoulders the risk, your repayments fluctuate with the exchange rate.
OP rt3d 10 | 46
29 Sep 2010  #6
Starting October, more than 13 percent is expected to increase the price limit for eligible housing program to His Family in Warsaw, Poland. There is nothing to justify such a step change .

Price limits in the government program on His family are calculated from the average of the last two readings of the half- year conversion factor replacement cost per square meter of usable floor space of residential buildings. To find the limit for the area , just average rate multiplied by 1.4 .

Plastic Pole52 - | 67
29 Sep 2010  #7
It says that developers are scaming the goverment by reporting (rigged) inflated costs of square meter in the new constructions.This makes it easier for them to sell more expensive apartaments since more of them qualify for the govermental program "Rodzina na swoim" where the tax payers cover half of the interests on the mortgage for 8 years.It keeps prices of apartaments high and causes rents to go up since the rents also depend on the average cost of square meter.They (the developers) are about to being sued.


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