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Help Requested: Has the polish real estate bubble popped?

polandabroad	Feb 7, 09, 21:08 / #1
I'm considering purchasing a 1 bedroom apartment/flat for my mom in and around Wroclaw. 700 sq feet or so. I live in the US and am not familiar with what has happened in Poland real estate valuations. Has the housing bubble popped there? Are valuations attractive? It's certainly looking better from an exchange rate perspective with the dollar at ~3.5 to the zloty compared to 2 last summer. I don't need financing and would be able to do a cash deal of up to poland 200,000 depending of course on the recent more favorable exchange rate holding but I don't know what I would be getting for that price. Are there nice and acceptable properties in that range in Wroclaw for sale now? Or are we still 6 months to a year away from sounds of pop pop pop.

WroclawThreads: 52 Posts: 4,708 Joined: Apr 1, 06 Gender: Male [Moderator]	Feb 7, 09, 21:29 / #2
You need a website like this. Prices and pictures. nieruchomosci-wroclaw.pl

Katarzyna7Threads: - Posts: 4 Joined: Feb 24, 09 Gender: Female	Feb 27, 09, 10:25 / #3
You also can look for it on gratka.pl

vndunneThreads: 46 Posts: 276 Joined: Jan 12, 07 Gender: Male	Feb 27, 09, 16:22 / #4
here is another website for real estate in Wrocalw www.centrum.wroc.pl In relation to you query, has it popped, prices have defintely come down since the large increases of about 2 years ago. Unfortuntately, due to the state of affairs in the world and in poland, it is anyones guess, if the prices have bottomed out.

JAK	Mar 5, 09, 01:10 / #5
I think the rear end of 2008 was punctuated by several pops of increasing magnitude and by all accounts there should be further considerable large belches as the whole overvalued mirage settles into something resembling reality once more. Thank goodness you are not one of the Saintly Fools who were pursuaded to buy over the past year or so - O the humanity!

AvalonThreads: 1 Posts: 356 Joined: Sep 11, 07 Gender: Male	Feb 12, 10, 11:00 / #6
Its interesting that this thread was posted a year ago and there was much speculation by forum members as to whether prices would collapse as according to Polsky (and all his alias's) or perhaps decline slowly. Well, there has not been a 50% drop as Polsky predicted and if the following artical is to be believed, the market has bottomed out. Apartments prices in Poland gaining ground 9th February 2010 Polish developers are giving fewer and smaller discounts to clients after observing an increase in interest in real estate. According to research conducted by real estate consultants Reas, by the end of 2009 the average price of real estate per square meter in Warsaw amounted to zł.7,800 – a rise of seven percent over the Q3 average. Poznań and the Tri-city area saw rises of six and three percent respectively. The days when property buyers got double-digit percentage discounts at real-estate brokers are behind us, Reas says. According to Katarzyna Kuniewicz, an analyst with Reas, brokers now give discounts of two to four percent. (RG) Source: Rzeczpospolita From Warsaw Business Journal Mark, keep buying tickets for the lotto, you may be able to afford tthat flat someday.

milkyThreads: - Posts: 261 Joined: Oct 26, 09 Gender: Male	Feb 12, 10, 19:35 / #7
The bubble will burst for sure,,if not it will be the first,,,but when ??is the question.

convexThreads: 27 Posts: 3,322 Joined: Nov 25, 09 Gender: Male GOLD MEMBER	Feb 12, 10, 20:03 / #8
milky: The bubble will burst for sure,,if not it will be the first,,,but when ??is the question. There is no popping of an asset bubble, there is only deflation. It takes a couple of years until prices are back in line. It will decline back to affordable levels just as it rose, gradually.

AvalonThreads: 1 Posts: 356 Joined: Sep 11, 07 Gender: Male	Feb 12, 10, 20:59 / #9
milky The bubble will burst for sure,,if not it will be the first,,,but when ??is the question. So you are back to using this name Mark?.......well you are only a year out on your prediction so there is still plenty of time. I was wondering if you actually write letters to the Warsaw Business Journal to tell them what liars they are? You do read financial journals, don't you?

polskyThreads: 5 Posts: 98 Joined: May 26, 09 Gender: Female	Feb 20, 10, 12:01 / #10
polandabroad: Has the housing bubble popped there? Definitely NOT yet. Prices went down about 20%, and they are expected to fall another 30% - 60% at least. To buy now in Poland is the same with throwing your money off out the window into the sea...

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