Has anyone considered investing in Poland?
As I see it, Poland (like other new Euro countries) has a number of things going for it:
(1) The Euro coming in 2010 will push prices up – see the Irish miracle
(2) A highly educated population currently earning money in Western Europe to return home around 2010
(3) High yielding properties
(4) Huge potential for capital gains as the gap between East and West shrinks thanks to the EU and its subsidiesThe downside risk:
(1) Language barrier
(2) Having to trust locals not to pull the wool over your eyes
(3) Not knowing the localities as well as at home
(4) Having to manage a property from overseasAnyone have any experience doing this, or opinions? Any contacts in Poland would be helpful too
Eastern European properties will all go up in value dramatically within 5/10 years. Poland is a very good place but with this new revolution the country most people talk about its Bulgaria.
If your interested i don’t see how it can’t be done but i think having someone on the ground in Poland is an absolute must.
Don’t see how it can’t be done though.
I have joined this site to find out how to invest overseas in Poland too. A family friend (who lives in Germany) has just bought two brand new properties in the last year in Poland and he has already made a significant profit.
His key to investing there was:
– he made a trustworthy contact who also bought in the complex and will be living there.
– he speaks Polish
– He can drive there regularyWhen I find more info, I will be sure to post it. For me its just the beginning of my search into property and the international market.
You can gain access to Eastern Euro, including Polich retail property via APN Euro property trust, ASX code: AEZ.
Hi, we live in Dubai, and have bought 2 apartments in Poland. I agree that if you buy ready built apartments, you need to have someone Polish on the ground. Remember that it is also a buyers culture and that good deals are snapped up in a flash.
I bought 2 off plan units, close to the metro, in 2 different developments by 2 well known developers and the process was very easy. I did have to visit twice but during this time, I found a good lawyer, good fitout guys and property managers.
I did not need an estate agent and my experience with them not too good.
I’ll be happy to help where I can if there are any questions.
Interesting to see the comments on these older posts about how people will double or triple their money in hot spots like Bulgaria. When in reality 4 or 5 years on from these posts the markets have now completely collapsed in these places and you can pick up apartments for under 10,000 E from desperate sellers.
Same can be said of the poster children of the US market same era.
1. Rochester NY
2. Dayton OHio
3. Youngstown Ohio
4. really anything Ohio
5. Detroit
etc etc
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