Any investors sell a Polish property second hand?

[auto320]

You can make money in the Polish market, but not if you get ivolved in dealing with the big mass market sellers. Once they get inolved, they suck in a large group of amateur "investors" with little or no selectivity who buy up anything on offer without researching the market.

So far, only a few of these agencies are involved, so Poland still offers some value in some places. Stay away from secondary areas and small towns or rural areas.

For me, Hungary, where the tide of amateurs and cowboys has passed by, offers a more stable environment and better prospects.

 

[ProInvest]

Good posts above. Seems that people are actually taking investments seriously and doing a bit of research to qualify their investments and investment criteria, which is important, instead of following the "Paddy-of-the-Plane" herd mentality that is being seen in so many places...

My partner and I (who is Polish, from Krakow) helped a couple of friends of mine to purchase 2 apartments about 13 months ago in Krakow. The price paid was the equivalent of €55k for the 2 properties and there was rental tenants in place that covered the mortgage in Poland as well as the additional payments on their own home mortgage in Ireland as they released equity for the initial deposit.
They then sold these properties, again with our help, to 2 Polish families who wanted to move from the suburbs into the city centre (general area) and the sales price was €110k for the 2 apartments.

If you buy right in the right area, with the right exit strategy i.e. not buying the 1st thing you see without going through your options and taking into consideration what is happening in the area and who is likely to buy from you - investor v's local buyer etc.

I'm certainly not saying that everyone that buys something will double their money in 12 months in Poland but the market is certainly bouyant and growing rapidly. If you speak with the various banks in Poland you will learn that it is LOCAL BUYERS that are FUELING the property boom that has started, and it is being SUPPLIMENTED by INVESTORS. The banks, and in some cases the Polish developers, are quite projective of the market there. For example, banks won't finance the speculative purchase of "brown" land (land with no permission in place to be bought and flipped on) as this type of speculation and "flipping" can lead to prices being forced up artificially in some cases.

We have dealt with both new & resale apartments (and commercial propety/development land etc) in various areas in Poland and have found that there are good an bad deals available, the same as every other country on the planet, but we would rather make sense of a development or property before offering it to a client/buyer to be sure that it is the right thing at the right price, and is the right thing for that particular buyer...