Thinking of buying an offplan Luxury Property Wroclaw

AgnesAppleThreads: - Posts: 4 Joined: Jul 17, 11 ♀	Jul 18, 11, 00:53 #31
Thanks for all this thoughtful input. Perhaps I can use my visit to educate myself rather than rushing to buy. How negotiable are the list prices? I would not need financing. It looks like the Angel Wings development is being actively marketed and may be partially completed. Poland should be very thankful not to be in the Eurozone at present and should be in no hurry to join. Agnes

wielki panThreads: 3 Posts: 278 Joined: Jan 7, 11 ♂	Jul 18, 11, 01:12 #32
Harry: It isn't hard at all: week before last I applied for an unsecured loan of 53,000zl and was approved in less than ten minutes Harry I was talking about a loan for 500,000zl plus.... 53,000 is peanuts... I bet the interest rate was about 22%?

HarryThreads: 62 Posts: 8,508 Joined: May 2, 07 ♂ [Suspended]	Jul 18, 11, 01:33 #33
wielki pan: Harry I was talking about a loan for 500,000zl plus.... 53,000 is peanuts... I bet the interest rate was about 22%? 12.7% if I remember correctly. Not too bad for an unsecured personal loan.

pawianThreads: 90 Posts: 5,415 Joined: May 30, 08 ♂	Jul 18, 11, 01:38 #34
samdud: Hi, I am looking at buying an offplan luxury apartment. The location is great, 10 minutes walk from the Market Square of Wrocław but it seems very expensive at 3000 Euros / meter - What do you guys think ? These slums for 3000 euros/meter ? They must be crazy.

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Edited by: Wroclaw Jul 18, 11, 02:03 #35

AgnesApple:

It looks like the Angel Wings development is being actively marketed and may be partially completed.

last friday

MEMBER ♀

Jul 18, 11, 11:01 #36

samdud:

I am looking at buying an offplan luxury apartment.

Stay away from off plan property in Poland! Too risky and stressful.Just browse on PF and you ll see that most developers were either dishonest or the flats are not built in time. Do not forget you are trying to buy in a post communist country where ( thank God not very body) many developers associate capitalism with cheating clients and Polish laws are not protecting real estate clients at all like anywhere in Western Europe.
There are hundreds of great places which are already built in Wroclaw and not too expensive so just look around and avoid stress and risks!

milkyThreads: 10 Posts: 1,229 Joined: Oct 26, 09 ♀	Jul 18, 11, 12:16 #37
AgnesApple: Thanks for all this thoughtful input. Perhaps I can use my visit to educate myself rather than rushing to buy. Why invest in Poland?? Property in Ireland has dropped 51% and it is expected to drop a further 10% this year. The minumum wage in Ireland is over 8 Euro an hour , while in Poland it is 2 euro an hour and property prices tripled between 2004-07 and remain stagnant.

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Jul 18, 11, 16:28 #38

Thanks, Milky, for this guidance. I am considering purchasing a flat in Wroclaw because I go there every summer to teach and I like the city. I'm not familiar with Ireland as an investment, but it may be a better market, just not the right one for me. I might rent the flat, but it looks like the carrying costs would be low. Perhaps I'd just leave it vacant or just let friends and colleagues use it. You can see from this that I'm not a very disciplined or sophisticated investor.

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Jul 18, 11, 23:29 #39

AgnesApple:

How negotiable are the list prices? I would not need financing

Good idea... work out what type of apartment and location you like and if you are cashed up the sky is the limit.. as I mentioned in my previous post a big question mark hangs around the european financial markets and it may well mean that some properties will crash in the next couple of years.. Beware of people on this forum who masquerade as small time investors who in fact are in the business of selling land and properties. They have been wrong in the past as they will be wrong in the future.

milkyThreads: 10 Posts: 1,229 Joined: Oct 26, 09 ♀	Jul 19, 11, 12:22 #40
wielki pan: Beware of people on this forum who masquerade as small time investors who in fact are in the business of selling land and properties. Beware of these people big time.

HarryThreads: 62 Posts: 8,508 Joined: May 2, 07 ♂ [Suspended]	Jul 19, 11, 14:53 #41
wielki pan: Beware of people on this forum who masquerade as small time investors who in fact are in the business of selling land and properties. And which people would those be?

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Jul 20, 11, 07:19 #42

Harry:

And which people would those be?

you must be pretty wet behind the ears if you carn't work it out..you don't have to be boy genius to work it out that things are bad in europe at the moment. Poland will not be buffered from the economic downturn.. or are you suggesting that there is gold in polish soil. Lets not kid ourselves that a lot of people who purchased properties in the last couple of years have had there fingers burnt.

ChrisPolandThreads: 3 Posts: 143 Joined: Oct 15, 09 ♀	Jul 21, 11, 16:34 #43
For those of you looking for luxury apartments in Wroclaw which are available right now, consider Thespian. The developer is ING. They go for 12,000-16,000 per square meter and are fully fitted-out.

milkyThreads: 10 Posts: 1,229 Joined: Oct 26, 09 ♀	Jul 22, 11, 20:03 #44
you must be pretty wet behind the ears if you carn't work it out. lol What will happen in the near future, I wonder??

AvalonThreads: 3 Posts: 814 Joined: Sep 11, 07 ♂	Jul 22, 11, 21:09 #45
What will happen in the near future, I wonder?? Whatever happens, your predictions will be wrong, so why worry about it?

milkyThreads: 10 Posts: 1,229 Joined: Oct 26, 09 ♀	Jul 23, 11, 10:01 #46
Beware of people on this forum who masquerade as small time investors who in fact are in the business of selling land and properties. They have been wrong in the past as they will be wrong in the future. I say no more..

AvalonThreads: 3 Posts: 814 Joined: Sep 11, 07 ♂	Jul 23, 11, 10:57 #47
I say no more.. Very unlikely. you will be back in a few days spouting the same rubbish and predictions as you have done for the past 2 years. By the law of averages, you have to be right one day, so keep at it.

milkyThreads: 10 Posts: 1,229 Joined: Oct 26, 09 ♀	Jul 23, 11, 11:22 #48
By the law of averages, More like the laws of economics.

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Jul 23, 11, 11:50 #49

More like the laws of economics.

Economics and supply/demand do not seem to be your strong points. Stick to the self serving predictions and your endless tirade against employers, landlords, estate agents and developers. Everybody has to deal with one off the aforementioned people during their lives. They provide a service, the same as a priest or a doctor. Surely you cannot hate everybody, there must be someone you like who does not make a profit from their labour's or profession?

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Jul 23, 11, 13:18 #50

Economics and supply/demand do not seem to be your strong points.

Well, you are an admitted Thatcherite, so obviously, any viewpoint that opposes casino capitalism(real estate porn), is seen in your eyes as a lack of intelligence.

self serving predictions

lol, you know you are talking about yourself.

supply/demand

'
Plenty of supply and demand, except 'demand' is for prices based on Polish wages. Thats why the market is 'stagnant' and the gamblers who didn't sell before 2008 are sh1tting in their pance; and trolling website, looking to convince (Polish)fools, with savings from the West, that Poland is a special case and 'unlike', the rest of the world.

you must be pretty wet behind the ears if you carn't work it out..you don't have to be boy genius to work it out that things are bad in europe at the moment. Poland will not be buffered from the economic downturn.. or are you suggesting that there is gold in polish soil. Lets not kid ourselves that a lot of people who purchased properties in the last couple of years have had there fingers burnt.

Surely you cannot hate everybody,

No, just 'Chicago Boys'.
http://www.youtube.com/watch?v=cvG0gbvZ4tY

irlman35	Dec 11, 11, 21:00 #51
I am heading to Wroclaw next week to make a decision on an apartment I purchased in the Angel Wings Development. Don't know whether to sell or rent? Is a two bed, 69 square meters. Is fully kitted out. Any ideas anybody?

WroclawThreads: 77 Posts: 7,404 Joined: Apr 1, 06 ♂ [Moderator]	Dec 11, 11, 23:02 #52
irlman35: Don't know whether to sell or rent? when you get there check to see the percentage of sold/occupied units. that should help you to make your mind up. also, anything facing the river will sell better than those facing rubble.

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