salaries are expected to be stagnant for a good while to come.
Are they? I haven't read that, salaries have been rising slowly but quite steadily for the past four years or so.
Alright, according to your link, in Wroclaw it's 51 m2 for 306,000, seems about right (we won't even add in the 7% tax, or fees).
I believe it also takes into account that both parents work.
foreign buyers and of course a limited amount of Poles returning and cashed up
Poles sending money back to Poland has had a much greater effect than foreigners buying residential property here.
In the last five years, Polish immigrants gained 125 billion euro and transferred almost 21 billion euro to Poland.
Greedy land lords are no greedier in Poland than any where else in the world.
True and one of the contributing factors for relative stability here in Poland i.e. not a crash and recession. Is due to the banks not lending money like they were in Ireland (for example).
The stories of how the banks were throwing mortgages at people in Ireland to buy property because it was assumed that if they bought property they were investing and it would only go up in value, further inflating the bubble.
I used to criticise how inflexible the banks are here, now I see how it helped the country.
Here the banks now throw small loans at people. I am not an economist but I think this is good for the economy, if people have money they spend , circulating the money. I am not suggesting this is why the banks are doing it but I think it is a side effect of the bank's policies.
And just on a side note, there is a phenomenal amount of road works here in Krakow, and around the country, at the moment. E.U. funds being used and employing thousands of people.
It breaks down to paying 30% of your income to rent, or 70% to buy...
Are you comparing renting and buying the same place?
It is cheaper to rent but not close to that much, based on a flat in the centre of Krakow.
I have crisp $100 bill in my wallet right now, I wouldn't mind being a slum lord in Columbus.
How much rent will you charge? :X