Real estate

14.01.06, 11:31

My wife and I are planning to buy an apartment, because we are fed up with
giving money for rent. We will stay in Poland only for max. 2 years and when
we leave we plan to rent it.
Don't know much about the real estate market, so I want to ask you: is it
likely that real estate prices will go down? or in other words, is it a good
idea to invest in an apartment?

Thanks for the advice,
Ervin

Thebartiski.blogspot.com
    • usenetposts Re: Real estate 14.01.06, 11:44
      The value of apartments in Warsaw will not go down, not from today's prices,
      but do not delay, as prices will rise over the next few months fairly sharply.

      No lasting fall could occur, at the most there could be seasonal slippage.

      The thing which really drives prices is the mortgage market, and that is
      developing in leaps and bounds.

      Remember Warsaw has limited availability of new residential plots, which means
      that the whole thing is fairly well protected.

      Obviously if bird flu transfers to humans and wipes out a third of the
      population, then property prices will drop by about 50%, but then you'll just
      be happy to be alive to experience it.
    • russh Re: Real estate 14.01.06, 12:29
      My opinion is it will be a very good long term investment.
      • missus.c Re: Real estate 14.01.06, 12:39
        Prices are rocketing sky high. It is as simple as that. But the investment is
        good. Ask any Irish people as they seem to be most active on the real estate
        marketsmile
    • ejmarkow Re: Real estate 14.01.06, 19:41
      I seriously started to look at Polish real estate investments in the year 2000
      when I was spending a summer here. Initially, an apartment in Warsaw was my
      choice, however, as I toured Southern Poland and saw the many beautiful farms
      there, I became more interested in owning my own land, forest, and meadows,
      rather than just an apartment. My philosophy at the time was, apartments will
      always be available, even new ones....but when it comes to a farm and land,
      they will become limited in supply, especially at the prices they were during
      that time. So, by the year 2003, I ended up owning two farms in two different
      villages and over 11 hectares of land in 4 different villages. After Poland
      joined the European Union, old farm houses starting being snapped up like
      hotcakes. Suddenly, everyone from the 'big cities' were opting to own a farm in
      a remote village. Now, even in my area, there is nothing left at a reasonable
      price. Timing was the key, and a bit of luck! My next investment will be an
      apartment in Warsaw though. smile Good luck!

      Cheers,

      Eugene
      www.geocities.com/ejmarkow/siemiechow
      • missus.c Re: Real estate 15.01.06, 00:02
        nice. And I'm sure you don't have any locals moaning at you, that you are
        buying out their landsmile Many politicians tried to put Poles off the EU with
        that argument.
        • ejmarkow Re: Real estate 15.01.06, 06:12
          missus.c napisała:

          > nice. And I'm sure you don't have any locals moaning at you, that you are
          > buying out their landsmile Many politicians tried to put Poles off the EU with
          > that argument.

          On the contrary, many locals were under the impression that I am buying out
          their land, and up until today, the same people are still convinced of it. Not
          only locals, but individuals in the upper administration here are also
          suspicious of my intentions. I live here because I enjoy the farm environment,
          forests, and mountains, and wish to integrate this farm with tourism. It
          reminds me so much of my grandfather's farm in the Catskill mountains in New
          York State, USA. I always assure the locals and administration here that I'm
          not here to 'buy and sell', but rather to improve the farm which was abandoned
          and compliment it's use it to something even better. I truly understand where
          they are coming from, and you must comprehend the history of Poland and of the
          many horrible occupations in Poland to grasp what they are feeling. I know this
          myself because my mother was born in a small village in Poland, only 70
          kilometers away from where I am now. So, I must conclude, that I disagree that
          many politicians are using this as an argument to put off Poles from the EU.
          It's a fact that many (not all) foreigners and large Western corporations are
          taking advantage of Poland in a terrible way, and very often. It is also true
          that so far, EU membership has it's advantages and disadvantages for Poland and
          Poles. Prices have risen enormously, however, salaries and the employment
          situation are still remaining stagnant. From what I have seen in only 3 1/2
          years of living here, buying power has decreased enormously for local Poles.
          • missus.c Re: Real estate 15.01.06, 12:46
            Wow. That's a first. I have seldom heard a foreigner who lives here, confirm
            local 'worries'.
            Thanks for that opinionsmile
            • ejmarkow Re: Real estate 16.01.06, 04:16
              You're welcome! smile I will further explain why the locals worry. It is mostly
              due to foreigners buying physical 'land' and not apartments in Warsaw or Krakow
              for example. How many foreigners here in Poland do you know that own large
              tracts of land versus foreigners that own just an apartment? Poles will not
              worry about foreigners buying up apartments, because they don't represent a
              threat to their living space. And, this certainly doesn't apply exclusively to
              Poland or Poles. Many countries in Europe press real estate limitations on
              foreigners, Iceland being a very good example. I've been to Ukraine several
              times and real estate is priced very well, however, like in Poland, only local
              residents can buy 'land'.
      • bartis_ervin Re: Real estate 15.01.06, 20:37

        I've checked the website that you've made for Siemiechow. Probably the locals
        are very proud of itsmile

        Do you live on your farm alone or with family?
        Do you produce or want to produce something or you want to do agrotourism?

        In 20-25 years I also plan to do something similar: head to the mountains and
        buy a shelter and just live there. Run the place as a small business, but not
        for the sake of making money.
        I grew up in a small place and often spent holidays in mountains, so now I
        really miss chopping wood, making fire, smelling the bitter smoke and so on..

        Is your region good for biking? We love to do biketrips, so if we'll have enough
        free days we might visit you in the summer.

        Take care,
        Ervin

        Thebartiski.blogspot.com
        • ejmarkow Re: Real estate 16.01.06, 04:39
          bartis_ervin napisał:

          > I've checked the website that you've made for Siemiechow. Probably the locals
          > are very proud of itsmile

          Thank you very much Ervin! Actually, I think only 3 inhabitants out of a
          population of 1,800 individuals commented on my village website. Not even the
          wojt (mayor) of our gmina (township) acknowledged my website, which is good for
          tourism here.

          > Do you live on your farm alone or with family?

          I live here alone. smile

          > Do you produce or want to produce something or you want to do agrotourism?

          I would like to do both. I already have apples, cherries, and walnuts. It would
          be nice to plant more such trees, and harvest potatoes. There will be a horse
          and chickens as well.

          > In 20-25 years I also plan to do something similar: head to the mountains and
          > buy a shelter and just live there. Run the place as a small business, but not
          > for the sake of making money.

          It would be wise to buy something now, because in 20 years, prices will be
          fully westernized. They are already skyrocketing. I am also in this for the
          hobby aspect with the intention of making 'some' money.

          > I grew up in a small place and often spent holidays in mountains, so now I
          > really miss chopping wood, making fire, smelling the bitter smoke and so on..

          Ahh...you hit it right on the button! smile I love going outside, splitting
          wood, and heating my house with it. The aroma is also nice, and it provides a
          very cozy feeling. It's great to wake up in the morning, and take a stroll
          around my forest or walk only a few meters from my house to see spectacular
          views of the Dunajec river valley, and the Carpathian foothills.

          > Is your region good for biking? We love to do biketrips, so if we'll have
          > enough free days we might visit you in the summer.

          Ervin, here is true biking paradise, going through the small crooked roads in
          the most obscure villages, passing lush forests and meadows where horses pull
          carts and wooden churches and roadside chapels abound. Mountain biking is my
          favorite hobby, and there are many official tourist trails around this area as
          well. You are welcome to visit anytime you wish! If you come, I'll join you on
          a biking expedition.
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