Krakow Europes Number One Property Hotspot

Whereas last year the Danes were great, this year Poland is poles apart at the top of the property hotspot league. Poland's beautiful royal city of Krakow has recently been named as Europe's best property hotspot after recording a 58% increase in house prices throughout 2006, rising to almost 100% in the picture-postcard perfect medieval centre.

Whereas last year the Danes were great, this year Poland is poles apart at the top of the property hotspot league. Poland's beautiful royal city of Krakow has recently been named as Europe's best property hotspot after recording a 58% increase in house prices throughout 2006, rising to almost 100% in the picture-postcard perfect medieval centre.

While the 'Polish invasion' of Britain has caused numerous scare-mongering stories in the national press and heart rises among the blinkered class, those with a more open mind have been savvy enough to spot the great property opportunities that have emerged in Poland, particularly in the cities of Krakow, Warsaw and Gdansk, in the wake of such emigration

Figures released by the Royal Institute of Chartered Surveyors (RICS) showed that, after looking at house price growth in 26 European countries, Poland topped the league, with prices rising nationwide by an average of 33% in 2006. Denmark (price rise of 22%) and Bulgaria (price rise of 20%) were second and third respectively and half of those countries polled showed double digit growth, which is a clear sign that the European housing market is in good health

Poland's success story has been attributed to a couple of contributing factors - namely its economy, which is performing exceptionally well and means that a growing number of locals can finally afford to purchase their own home (which in turn is fuelling a healthy new-build sector as more amd more individuals leave ther run-down, ex-Communist abodes) and a more progressive mortgage market which has attracted British and other foreign buyers

Krakow is performing better than the rest of Poland due to its Aesthetics. Dubbed, rightly or wrongly, 'The New Prague', Krakow's iconic and ubiquitous squares, cobbled streets and plentiful museums and galleries make it a culture-vulture's delight. Its centre is classed as a UNESCO world heritage site and numerous cheap flights from the UK and Ireland ensure that its accessibility is never an issue. Property prices can start from as little as 50,000 Euro for a newly-built, one bedroom property