buying property in poland

K

kiwijbob

Guest
I have recently been approached about buying property in Poland, now it comes through an a friend of mine with a polish family contact. I have considered it as prices are still cheap and with the likes of Phillips leaving our green shores for polish 'greener fields'? I guess I'm just wondering if anyone else has heard any horror stories about polish property since they haven't fully joined the EU party yet?
 
Have you read some of the discussions about buying property abroad, and more specifically in Eastern Europe or Poland, in the Property Investment forum?
 
property

not yet, i will now though.

thanks for the link.
 
Strange link?

Hi O,

Was this link supposed to be more specific? It brings me back to the top level of this thread.

Thanks
MAC
 
Re: Strange link?

No - I think that you originally posted in another forum (subsequently moved by a moderator) and I was just pointing you to the Property Investment forum in case you hadn't noticed it. There are many topics in here dealing with property investment in generaly and in Eastern Europe (not sure about Poland) in particular. Check the key posts topic and maybe try the AAM Google search at the top of the page.
 
You dont need to get clearence from the ministry if buying an apartment over there only if u are buying land u need clearance.

You can get 80% mortgage over there it is possible just look around.

I am heading over myself in a few weeks to take the plunge as after going through as many economic factors without been overwhelmed i believe the growth potential is quite good once the government implement the hausner plan. It will be 10 years before u reap reward in the market but rent should give a ++ asset after you buy which is a lot more than can be said for the irish rental market.

Any more questions email me etc id be interested in hearing ur opinion on poland also and perhaps do a brain dump of info...
 
Property in Poland

Hi Ecstatic

How did your hunt for property in Poland go? Any tips on where to buy property or what type of property is the best to buy, i.e. apartments in city centre/2nd hand houses etc.?
I am going to Poland this week and was wondering if anyone has any experience or knowledge of the Polish property market.

Regards
Property UK
 
Property in Poland

Hi

I run a property consultancy in Edinburgh. I am going to Poland the second week in November to view an exclusive development on the beach at Ustka. Prices for 2 bed apartments start at £31k and seem very good value.

I will let you know the outcome once I return.
 
Re: Property in Poland

Hi Paradise - Thanks for your contribution. Note that this board does not permit advertising, so we wouldn't welcome 'advertising' posts on your return. We do permit regular contributors who participate on the boards in a community spirit to include a link to their own website, but we would expect to see that you are prepared to share your expertise/knowledge in a community spirit before hand.
 
Investing in Poland

I have recently bought a couple of blocks of apartments in Poland. My view is that rental returns are not likely to be especially strong but that capital growth will be good.

I am interested to share information with anyone with experience of buying whole buildings in Poland. My email is [email protected]
 
poland

i bought an apartment in Mokotow for around 70-80k.

Just off belvederaska.

New apt.

The bank valued it at been worth 30% more than when i went over there.

Mortgage is been put in place at present.

Zloty has appreciated from 4.7 against the euro to 4.28 which is quite a bit.

Once you are a patient investor and not a momentum investor then i believe Poland / Warsaw is a good bet.

[broken link removed]

Long term the prospects are good in Poland with rumours of toyota and GE making large investments. Stress the rumours: www.wbj.pl/ warsawvoice.com.pl.

Any questions give me a shout.

I am aiming at the Top end of the market in rental terms / exclusivity.

Yields are double dublin.

If you need any more info drop me a line. I have done it all.

By the way do not RENT to polish people.
 
Do not rent to Polish People?

"By the way do not RENT to polish people."

Can I just ask why?
 
Re: Do not rent to Polish People?

i owuld presume in terms of tenants rights to a local and not a visitor

once they were in you can never get them out
 
local

There was a case 4 years ago whereby a landlord had to bring a tenant to court over then staying in the apartment for free. The law found in favour of the tenant (socialist laws still exist..)

The tenant got away with not paying rent for 4 years.

This is a rare case and i have been told would only be done by scumbag people however the fact it happened exists.

I have gone for the upperend of the market and have seen my property in Mokotow be valued by the bank 35% more than my purchase price.

I believe ireland is over heated and a bubble is coming so i have looked at differing economies and choose poland as an investment choice.

There will be good growth next year in the region of 20% on property price and then it will slow for 5 years (2009).

2009-2011 should be very good years from my analysis of the polish market. Do your own research read everything that exists regarding economic indicators etc.

Downside potential the only risk i see is that poland does not get enough FDI. In that case we are looking at a go slow investment. I believe there FDI prospects will pick up in the medium term 3-5 year span. Polish people are highly educated. Drop me a line back if you have any other queries / questions.
 
Re: local

Has anyone any opinions on CastlecarberyProperties as mentioned in

[broken link removed]

There is a new investment scheme coming on line in Mokotow for Office Block letting.
 
yes

poland growth for next 1.5 years thats all.
Then stable and economy quietens til 2009 then it really starts to kick off again.

Mokotow is the best place imho and best place from polish people (wilanow another place). Froget about everywhere else.

Im in for the long haul as im under 25 years of age and can afford to wait.

If you are a value investor then warsaw is the place if you are a momentum investor then its not,...
 
Poland

Hmmmm Mokotov is another business district of Warsaw. Anyone who’s been there will realise that Warsaw is made up of pockets of areas, ie there is no one central main street as like most European cities. The centre consists of a train station. While its true the Mokotov suburb is enjoying superb returns at the moment, it is based on the fact that rents are below average there, and in modern office blocks. Vacancy rates there are only 4%, but office vacancy rates as a whole in Warsaw are a whopping 18.9%. this is due to fall to around 10% next year, but then, in 2 years, 2 of the biggest office schemes ever built on the planet are due to be launched, which will single handedly bring vacancy rates back up to just under 20%.

Invest in Poland at your peril, it is a very long term investment (10yrs +), any one who thinks otherwise shouldn’t be investing in property at all.

As for the private sector property in Poland, now there IS a risky investment.…
 
yadda

Hi Mollser where is ur place of investment ?

I dont see pound for pound a better place to invest in the longer term.

I agree if you are a short termer dont bother investing in property u should probably invest in stocks / shares.

Can you provide some logical points to back up your argument so as i can see both sides of the argument as at the moment i only see invest at your peril ??

Generally speaking it depends on ur rish tolerance..

Funnily enough polish GDP figures are above most of the other accession states at around $11000..
 
Re: yadda

Hi ecstatic, I don't have any investments over there. I was over there for the last 2 weeks and was quite impressed by the measures Poland are taking to make themselves attractive for foreign investment (English speaking, well educated, etc etc). The figures I talked about were from the english language Warsaw Business Weekly.

As stated above, they really are looking at growth for the next 1.5 yrs, but nothing until about 2009, I'd agree with that, hence the essential long term view required.

My pessimism stems from the fact there are 40m people in Poland, and possibly 100m accross all the accession states. That is a lot of wealth and job creation required to replicate the successes of Ireland, where really only about 200,000 jobs had to be created to make us where we are today. That translates into 2m jobs in Poland alone to create similar sustainable relative wealth. (in a country of unemployment simmering at 19%...)

Accession is great, but East Germany and many other countries, including Germany itself, haven't exactly rocketed as a result of EU accession and its subsidies.

Having said that, if I was in charge of setting up back office admin functions (like so many of our jobs), I would be setting up in Poland, given the cheapness and quality of the labour.

Its a tough one, and a visit to the country is a must to get a feel for it.
 
Re: yadda

Check out Polands demographics and how it compares to irelands and other coutries. Turns out their population is actually falling. Wheres the demand for housing going to come from?
So if Irelands population growth will be around 35,000 p/a ([broken link removed] does this not make Ireland THE place to invest in property

Then again on a world wide level we're pretty [broken link removed]
 
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