To have over 50% unsold units, and not reduce the prices, sounds to me like the sure thing of going to h¤%&
With the capitalcost that I guess these developer have (6 to 10%) to have 1 unsold unit, of let say, 500.000pln they drop between 30.000 and 50.000 in rentalcost on a yearly basis. Keep in mind that a lost oppurtinty to make money, has the same value of actually have to pay money!
I havent been all over the world, but in those areas I have been involved the last 15-20 years something I have never seen anything like this. Ofcourse you have irland and Spain atm due to the financial crises that hit them after a massive boom in the consruction sector (market out of ballance), but Poland is not supposed to be hit by this crises, but the market stil seems to, voluntarly from the supply side, to be out of balance.
There's still an undersupply of apartments in Poland, so they will sell at some point. The banks may also be willing to be flexible on credit terms as they won't want the hassle of selling themselves.
If this is correct. Then they should just come to Krakow. Maybe 5.000 - 10.000 apartments, ready to move in, fresh from the market, UNSOLD!