Property investment in Wroclaw Poland

K

ktwo

Registered User
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Hello,

I am considering purchasing an apartment in central Wroclaw, Poland with a company called Property Secrets. I would appreicate it if anyone had any information or experience with the above company or indeed any advise on purchasing in Wroclaw Poland.

Regards,
Ktwo
 
ecstatic said:
www.oferty.net

Select Mieskania and then area etc..

What type of property u buying land ?
Click to expand...

Looking at property in wroclaw. Which Powiat / Miasto do i choose in order to pick wroclaw. I assume Powiat / Miasto is county or something.
 
We have bought an apartment there through Property Secrets. Obviously we're hoping it does well for us.....! Building is due to start next month. We're now sorting out the mortgage but don't know whether to get a Polish one, or release equity on our own house.... which rate would be better???
 
Polish rates are 4% I think but borrowing at home means you exposure yourself to currency risk. what do you think that the eur/zloty rate will do over the life of the investment?
 
Sure I haven't a clue.....!!

If it was you, you'd go for a Polish mortgage? And a fixed rate perhaps?
 
Mr Ed said:
We have bought an apartment there through Property Secrets. Obviously we're hoping it does well for us.....! Building is due to start next month. We're now sorting out the mortgage but don't know whether to get a Polish one, or release equity on our own house.... which rate would be better???
Click to expand...

Do you mind if i ask how much you paid ?
 
I think the price of the property in total was around 50 or 60K. Would need to check though...
 
if it were me i would not have bought!

i would be inclined to borrow in the local currency in order to keep your liability (mortgage) and your asset (property) in the same currency.

i am a fairly conservative investor so I would not use equity on my existing property to do this but then again nothing ventured, nothing gained.
 
ecstatic said:
select dolnoslaskie and WROCLAW.
Click to expand...

Much appreciated. Do you know the market well over in Wroclaw. I am familar with Wroclaw thru work.(beautiful city)

Would you think it is worth investing in property ?
 
I am in the process of buying a few apartments in Poznan, about 2 hours drive North of Wroclaw. I looked at both and felt Poznan was a better deal. The price rises in property was similar over the past few years but I felt with the new roads to Berlin and things like the banking centres and the number of universities in Poznan was better. I felt Wroclaw was a much more heavy industry town.

On Mortgages the euro mortgages are cheaper and the release of equity from assets in Ireland is a much cheaper rate. Normally I found the quote rate was 2% above the European interest rate. This can be negotiated to 1.5%.
 
what are yields like? is rent covering repayment mortgages? risky if rental yields arent substantial and covering mortgage.
 
The apartmens are still being developed. I have checked out the area and the rate quoted by the company I bought through of 25 PLN per m2 stands up. This will cover the addittional mortgage I have taken on my investments here. I felt it was miminal added risk as the property was increasing at 20%+ in the last year. The estate agent fees of one month wil mean i will heave to add in some initial monies but this should then run itself from here.
 
hi,
a bit off subject but have you tried Krakow..
a friend has bought there for under 80k in a new development and another friends partner has helped him
www.krakow4u.com.pl
it may or may not be useful
 
I'm happy that the rental fron the apartment in Poznan will cover the mortgage after the initial set up charges. I've done a lot of research in the area and the company I bought through ([broken link removed]) seemed to have have the answers and anything they told me stacked up ok when I checked the local market.
 
"Much appreciated. Do you know the market well over in Wroclaw. I am familar with Wroclaw thru work.(beautiful city)

Would you think it is worth investing in property ?"

Yes and yes take a look at what multinationals own the land over there at the moment. Assembly lines moving in every few weeks.
 
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