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Investing In Polish Real Estate
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Investing In Polish Real Estate

Date Added: June 04, 2013 09:00:04 AM
Author: andrew
Category: Business & Economy: Real Estate & Property
Poland is a country of magnificent lakes, a long Baltic coastline and the dramatic Tatra mountain range. Moreover, it's a country with a long and unique history with 14 UNESCO World Heritage sites sitting within its borders, many of which doubling as the historic centres of its most popular towns like Krakow, Warsaw and Zamosc. Both its spectacular natural history and its cultural wealth combine to make it one of the most visited countries in the world, 19th most visited to be specific, ranking just below Canada. However, belying its beauty as a country and its popularity with visitors around the globe, Poland is one of a number of Eastern European countries whose property is currently heavily under priced. Despite the fact that the Polish economy remains the fastest growing in the EU it suffered along with many other former members of the Eastern Bloc when the international banking crisis shook the world in 2008/9. The effect this had on the Polish economic environment meant that house prices took a 10% nose dive within a year and have, as yet, failed to recover. What this means for an investor, however, is that Polish property currently represents an outstanding long-term investment. All it would take would be for Polish property to rise to pre-crisis levels within the next 20 years and you would make a minimum of 10% depending on where in the country you bought. Some of the most desirable properties are in areas that were even worse affected by dint of being in urbanised regions – prices in Warsaw are currently down 13.1% and in Lodz 35.7% on pre-crisis levels. The property market is currently bottomed out and has pretty-much flat-lined since 2008 making it seem unlikely that it could fall much farther. In other words, in the mid to long term, things can only get better making it highly likely that investors will see a return. Many of the phenomena that were exacerbating the property crisis such as excessive property development are now beginning to turn around, presaging improvements to come. For those who are less interested in an investment and more interested in value for money, it's possible to look at the issue from another perspective: city centre properties in Warsaw are just €2,387 currently. This fact is all the more shocking when you bear in mind that the architecture of the city centre of Warsaw has led to it being named a UNESCO Heritage Site and the city itself is classed as an Alpha global city for its economic and cultural importance. If you are looking for a holiday home, whether for city breaks or out in the countryside, then buying now in Poland could represent some of the best value for money you are likely to find within the European Union. Moreover, its presence within the EU makes it easy for citizens of other EU member states to purchase property and even emigrate there without any hangups or legal difficulties. This is useful for buyers from the UK but, moreover, it helps maintain the buoyancy of property prices overall which is an important point for any investor to bear in mind.
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