Polish real estate

Polish real estate is too high. Why do I say this about real estate in Poland after it has come down already by about 15%?   Over supply and weak demand based on tight credit and earnings not matching real price value.

Polish real estate explained.

You should take the average monthly earnings in your area and this should be the price per square meter for real eastate.  This is what most of Europe pays.  So in Poland I think it should be about 3000 per square meter at most as this is about the monthly gross income, at least in the cities.   I would like to pay 2000 or less.  But prices were bubbled up to 10,000 per square meter in the Polish real estate market.  The result is no one is buying real estate in Poland.

Realistic prices in Poland

I think when real estate is between 2000  to 5000 people will start buying again.   Many many flats in my area and my street are just empty.  I live in the old town of Krakow.  In fact, they have been empty for 2 years because are asking too much.   Why should I get excited about paying 1/2 million pln for a 50 meter flat, when in the country side just outside of Krakow I could have land and a large beautiful house.  The 15% drop we have seen in the Polish real estate market is not enough.

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