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Real average gross wage and salary in Poland vs Real Estate Situation



hoblano Edited by: hoblano   Jun 24, 07, 06:45 /  #
I have a little question for all people who live in Poland.
As you know Ukraine seems like has a bubble in real estate.
Official payment in Kiev about 400$ (some have non official envelope bonuses : ) )
and average flat price is 2.500$ per meter. In our discussion forum we are trying to compare situation between Poland and Ukraine.
It would be great if you give me information about your real income (I mean net profit excluded taxes, but with any bonuses and overpayment-“to hand”) and real estate price.

I did some research on this question and found this:

"Average monthly gross wage and salary in the national economy in 2006, reached the level of 2477.23 zl, i.e. by 4,9% higher than in the same period of the last year. In the public sector it amounted to 2821.89 zl (a growth by 4.7%), while in the private sector it was 2340.30 zl (a growth respectively by 5.4%.)."
here stat.gov.pl
and this for 2007:
stat.gov.pl/gus/45_1786_ENG_HTML.htm

I understand that is before taxes, is not?
I'll be glad to see any help.
Grzegorz_Threads: 81
Posts: 6,211
Joined: Nov 16, 06 		  Jun 24, 07, 07:11 /  #
Netto average salary in Poland is ~750USD. I'm not sure about average flat prices, but in Warsaw for a new flat I think that's something like 3000$ per meter, but the prices grew up so much that they are not really growing anymore and in small towns It's much cheaper.
helloThreads: 37
Posts: 1,104
Joined: Dec 5, 06 		  Jun 24, 07, 09:41 /  #
Yep, the speculators moved to the east (Ukraine, Russia, Latvia, Lotva, Estonia). I expect the highest "profit" will be gained in Kiev (plus note the Euro 2012); investment in smaller towns won't bring a lot of short-term ROI.
spiritusThreads: 53
Posts: 253
Joined: Oct 25, 06 		  Jun 24, 07, 09:47 /  #
I expect Odessa will also take off
helloThreads: 37
Posts: 1,104
Joined: Dec 5, 06 		  Jun 24, 07, 09:51 /  #
Yep, but the problem is all the best properties have already been taken. Ukraine isn't very different from Russia in the real estate area. If someone wants to take a chance, he could try Belarus (and wait 10-15 years until their system changes). Then the profits would be in hundreds of % for the first couple of years.
hoblano Edited by: hoblano   Jun 24, 07, 13:12 /  #
Thanks a lot for immediately answers.
So, you have ~750$ per month in Poland. Is it correct? Can anyone to confirm or contest this value? We talk about all Poland, not Warsaw, right? It’s very impotent for me, because we must compare either our capitals or our countries.
It’s bigger at least twice than our income. By our official sources this value even less and equal ~250$!!!(brutto!!!) on Ukraine, but we must give a reduction for “black wages”. Situation is very strange. Why poorest country has higher cost?
[www].moneyweek.com/file/23678/what-kievs-property-boom-and-dot coms-have-in-common.html
Right now our R.E. market is in freeze state. They say situation comes to changes this autumn.
But our opinions are difference. Someone talk about next speculative prices jump. I believe that bubble will collapse soon.

I’ll be waiting for someone drops a few lines about house prices in Poland. Maybe somebody knows interesting internet link that cast light on this question.
lefThreads: 13
Posts: 564
Joined: Jun 27, 06 		  Jun 25, 07, 04:19 /  #
Quoting: hoblano
I believe that bubble will collapse soon.


Thats the golden question... People in the Polish real estate industry will have us believe that prices can only go up, up and up. I have my reservations.
The speculators have already moved on to access other markets as you have mentioned. The Polish real estate market is only sought after in only 3 parts of Poland.

The answer perhaps may be found in what the average Polish worker earns and current interest rates.
Some people are yet to have there fingers burnt, unfortunately some who make comments on this forum.
Remember the financial cycle?
horunPolandThreads: -
Posts: 127
Joined: Apr 4, 07 		Edited by: horunPoland   Jun 25, 07, 04:28 /  #
avarange paymant on hand is about 700 $ per month in Gliwice 1 meter squar cost aproximately 1000 $ in Zabrze it cost about 750 per 1 m square.....
lefThreads: 13
Posts: 564
Joined: Jun 27, 06 		  Jun 25, 07, 04:29 /  #
Quoting: horunPoland
avarange paymant on hand is about 700 $ per month in Gliwice 1 meter squar cost aproximately 1000 $ in Zabrze it cost about 750 per 1 m square.....


the point being?
horunPolandThreads: -
Posts: 127
Joined: Apr 4, 07 		  Jun 25, 07, 05:29 /  #
its depend of city how much is for 1m squar of flat. and it is also importent is that property new or second hand...
hoblano   Jun 25, 07, 06:59 /  #
as elsewhere : )
but we can talk about averege house, exactly where people live in common part.
Droped exotic deluxe accommodation. For example i know that Poltava flat price is about 1.2k
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