Innovative property investments
Poland Property Investment News
Go for Poland's "third tier"
UK buyers interested in investment property in Poland should look to cities with a lower profile than the tourist traps off Warsaw and Krakow, according to one market expert.
Ben Greenwood, of propertysecrets.com, said that though housing in Warsaw and Krakow has experienced astronomic growth in recent years, both cities are now experiencing a slowdown.
He said that the knock-on effects of EU membership - increased trade and tourism - would now begin to stimulate price rises in less renowned destinations.
"What we are seeing now is the prices [in Warsaw] are just starting to slow down and they will settle at ten to 15 per cent rather than the 30 per cent per year," he explained.
"That is now spreading out to the second tier cities, the likes of Krakow have seen a similar amount of growth, which is just now getting to its peak there as well.
"Then you have the third tier cities - like Gliwice and Katowice - which are experiencing the same level of growth as Warsaw recently saw.
There will still be opportunities in Warsaw for property investment but you have to be very careful. The third tier cities are seeing a much higher average growth than Poland's other cities."
He concluded: "Investors should look at the third tier cities like Gliwice and Katowice."
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