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How the Poland property market became a HUGE bubble

InWroclaw 89 | 1,915
28 Oct 2013 #31
Personally, not met anyone whose wages are up 20%. In fact, temp contracts are the order of the day, and one large financial co has made all manner of cuts incl business travel.

As for prices rising, not here, not so far anyway. Which is unsurprising, as wages are massively out of kilter with the prices already. The market might get a boost from foreign money, though, that I wouldn't rule out.

Anecdote I know, but posting anyway.

On another thread, Harry warned a poster in the summer of 2013 that property hadn't stopped falling yet (about 6 momths ago, I can't find the thread, it was a short one).

A flat on an estate in my area was 499K 6-12 months ago. It was quite big. I don't think it ever sold. I posted about it somewhere here.

Across the road (20 metres away), same estate, very similar or identical spec. Same size or larger, good interior. Now 400K. (It should sell now, probably, although my own view is it's still 100K over-priced.)
fitzy123 - | 1
30 Oct 2014 #32
Whatever anyone says about Polish property, it still represents great long term value in my opinion compared to the rest of Europe. Beautiful buildings, beautiful cities. Well worth investing if you have the cash. Just take a look at what 100,000 euros gets you in Gdansk!
InWroclaw 89 | 1,915
30 Oct 2014 #33

Just take a look at what 100,000 euros gets you in Gdansk!

"located on a charming roundabout and is on the market for 399,000"

That's a joke, right?
Monitor 14 | 1,820
31 Oct 2014 #34
For those that wish to have a detached house with a garden, this house is only 5 minutes from the sea, has 3 bedrooms and is on the market for 390,000 zl. Its garden is a healthy 226 metres squared.

The forgot to mention that it's a price for 1 floor.
InWroclaw 89 | 1,915
2 Nov 2014 #35

I've just noticed a flat in a prestige street reduced from 690 tys to 599 tys. It was reduced in July. It's still for sale now.

I had my offer on a place rejected last week. It has been up for sale for nearly a year and been reduced nearly 20% in that time. But it needs some work done to the staircase because of low clearance when going upstairs. For that reason, I put the value at 10% lower than the current asking price., but the agent and seller said nie. So I have walked away, because it's just going to be a silly idea to pay any more. I've found something else which seems to be 100 tys below the most recent selling price in that area, so I might go for that one although it's not ideal either.

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