Prices dropped in Krakow

Very interesting to get another viewpoint on the situation in Krakow, TimothyC. There's a serious lack of researched information on the Polish property market and as has happened several times over in CEE, many investors are rushing in based on oversimplified media reports and inaccurate projections. I know of several people who have sold their investment properties in Budapest within the last few months and rushed off to Poland to invest there, based on little more than a few newspaper articles.
 
Without making a forecast about the future, the very same source of figures that Tim uses shows a 70.3% increase in the price of property in Krakow in 2006. So a buyer who bought in Jan 06 would be a very happy investor now. It is hardly surprising that buyers are migrating their investments to Poland from countries with siginficantly lower rates of capital appreciation in 2006.
 
Prices may have gone up in 2006 alright but the rent I receive doesn't cover outgoings!!
 
Well the obvious thing to do appears to be to get shot! Take the capital gain and move on to something that will wash it's face for you.
 
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