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Home > Polish Property Blog > Cheap Polish Property
Cheap Polish Property
May 2010
"... exceptionally good value still exists ... and prices are a fraction of those in France, Spain or Italy" |
The value of Polish property has rocketed over the past decade, of that there is little doubt. In 2007 the Royal Institute of Chartered Accountants claimed the fastest growth in real estate capital gain was in Poland and while the credit crunch may have cooled thinks a little, it has not thrown prices into reverse. For those that did invest it has all been good news. Apartments rent well and re-sales often go to the local population who have not been priced out. Values in some areas of Krakow and Warsaw have even started to near those of Western European cities. But if this is the case it can also seem depressing for others who feel they have missed the boat. They might not only be looking for an investment, but perhaps a holiday home or a place to retire to. Is it out of the question? Well you can only prove something by doing it yourself and last year my wife and I set out to find a summer house. It took five weekends of trawling the papers and the country roads of Lubelskie before we came across our perfect plot. A 2,000 sqm (22,000 sqft) farm with a wooden house, stables, a barn and an orchard. Located a thirty minute drive from Lublin it will also be forty minutes from the airport in ten years or so. To the South the breathtaking national park of Roztocze is an easy day trip. The sleepy village it nestles within is on a dead end road but still commands a bus service and a shop. And the asking price? £8,500. A bit of bargaining bought it down to £8,000. It was not, however, in the best of health and the renovation will comfortably bring the final bill to £25,000 after which it will be possible to use it year round. It wasn’t a particular bargain and we didn’t do anything particularly clever to get it. The point is that exceptionally good value still exists. If you are looking for a holiday home they are still available for the taking and prices are a fraction of those in France, Spain or Italy. For retirement the ability to sell a UK property and move should secure a beautiful home and leave more than a bit of change to really enjoy life after work. Many cities may be bustling with professionals driving property prices ever upwards (Poland’s economy has not stopped growing throughout the global financial melt down) but the suburbs and the country side still offer exceptional, and alternative, value for money. |
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