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Flat Prices Falling in Poland
Staff journalist | 19th June 2009

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Flat prices reach 2006 levels in some cities

Those who bought a flat in Poland in 2008 must be kicking themselves. A recent report by the real estate website oferty.net revealed that as of May 2009, flat prices throughout have returned to the levels they were in the beginning of 2007 or even late 2006. Even transaction fees have dropped to pre-2008 levels, making the whole process of purchasing a flat much more affordable.

In Krakow, the average price per square metre, which was 7270 złoty in May, has dropped below the level that it was in December 2006 (7501 złoty).

In general, flat prices in Krakow are the third most expensive for large Polish cities; Sopot, on the Baltic coast, is first, followed by the nation's capital, Warsaw.



tomekjoe 5th September 2011

Finally, the bubble has burst. As I tried to tell all my Polish friends... the same thing happened in Spain, Ireland and the USA. It makes no sense to buy an apartment in Krakow when you can not rent it out to pay your mortgage. We rent a great place in the old town, where the rent is less then 1/2 of what the 30-year mortgage would be if I actually tried to buy the place. Makes NO SENSE to buy when you can rent for less and invest the savings for 6% at a Polish bank.

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