The world economy is not in the best shape at the moment as many of us will know. Overseas property sales companies are probably gearing up for a turn for the worst, however they may not admit this.
I can't predict the future but I can say that it is quite certain that overseas property sales will decrease in 2008. We just can't keep us this relentless push to own property abroad with interest rates rising and economic uncertainty in the UK, USA and the rest of Europe.
There is a real worry that property prices in the UK will go the same way as they have in the United States where real estate values have fallen over the last couple of years. There is the possibility of this in the UK, however we have slightly different market dynamics to the US and so personally I can't see such a big fall in prices.
What will happen in the Polish market? I really don't know is the honest answer. With demand stronger than supply the market is still looking very healthy which is in contrast to many other markets, even other Eastern European markets are suffering price adjustments. The Baltic States of Latvia, Lithuania and Estonia has seen some quite sharp falls in value over the last few months.
Only time will tell what is going to happen to the property market in Poland, at the moment though, it looks great.
Saturday, 20 October 2007
Friday, 12 October 2007
Real Estate in Warsaw is about Districts
Investing in property in Warsaw is about choosing which district to invest in. Property price rises in recent years have usually been higher in certain districts of the city.
A district such as Ursynow in the south west of the city that to some observers can seem detached from the centre of the city is in fact very well connected with the city centre and the Metro line and has seen capital appreciation that is higher than some more central areas.
The reason for this difference in property in Ursynow is that workers in the city centre often want a quieter area to live. An area that is better for bringing up children, with recreation facilities and green open spaces. Ursynow has this and the area is proud of it, in fact that local government uses this to attract business and people.
Investing in Poland property as a whole (not just Warsaw) is a little like investing in Warsaw but on a larger scale. You have to invest in certain areas at certain times in order to get the best results in the short term. In the longer term things could be different and so the market is less easy to predict.
Overseas property investors in property in Poland need to know the market, they need market knowledge. Its just the same as investing in your own country. Often the best place to invest is your own area because you know it the best. Get to know where you want to invest in Poland well and your investment will be good to you.
A district such as Ursynow in the south west of the city that to some observers can seem detached from the centre of the city is in fact very well connected with the city centre and the Metro line and has seen capital appreciation that is higher than some more central areas.
The reason for this difference in property in Ursynow is that workers in the city centre often want a quieter area to live. An area that is better for bringing up children, with recreation facilities and green open spaces. Ursynow has this and the area is proud of it, in fact that local government uses this to attract business and people.
Investing in Poland property as a whole (not just Warsaw) is a little like investing in Warsaw but on a larger scale. You have to invest in certain areas at certain times in order to get the best results in the short term. In the longer term things could be different and so the market is less easy to predict.
Overseas property investors in property in Poland need to know the market, they need market knowledge. Its just the same as investing in your own country. Often the best place to invest is your own area because you know it the best. Get to know where you want to invest in Poland well and your investment will be good to you.
Thursday, 11 October 2007
Long Time no Post
Well it's been a long time since my last post about property in Poland so I thought I'd just update the blog a bit.
Poland property is still going strong, the market is still on the rise and keeps looking that way. The main point is that there is strong demand in Poland. I keep saying this and will continue to until the demand subsides. Strong local demand means property price rises.
The fact that globally the economy is looking a little shaky and there are predictions of a recession in the United States and Europe has not had too much effect in Poland. We are perhaps not seeing the crazy price rises we were a few months ago but the market is stable which is a good thing.
There are people all over the internet now saying good things about Poland property and this really can't be bad after being overlooked by overseas property investors for quite some time.
Poland property is still going strong, the market is still on the rise and keeps looking that way. The main point is that there is strong demand in Poland. I keep saying this and will continue to until the demand subsides. Strong local demand means property price rises.
The fact that globally the economy is looking a little shaky and there are predictions of a recession in the United States and Europe has not had too much effect in Poland. We are perhaps not seeing the crazy price rises we were a few months ago but the market is stable which is a good thing.
There are people all over the internet now saying good things about Poland property and this really can't be bad after being overlooked by overseas property investors for quite some time.
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