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Agents polled on market conditions in Poland
July 06, 2012
The
Polish Real Estate Federation conducted a poll among real estate agents about the current housing market situation across local markets, including about the level of interest in purchasing homes to lease. Nearly 60% of agents surveyed indicated that investors of rental properties typically buy small apartments, mostly studios, and often near a university or city center.
Interest in purchasing rental properties tends to increase during the holiday season and is dictated by the desire to buy a small apartment for the child who starts to study in another city. Twenty-eight percent responded that in general there is no interest in purchasing for the purpose of renting.
Rental prices vary across local markets and depend on the standard and location of the apartment. Among the highest rental locations are Warsaw, Wrocław and Kraków.
Agents were also asked about financing for the purchase of a home. Based on the responses, 80% of residential properties are purchased with the proceeds from a loan. However, there are transactions, where the purchase is financed largely or entirely in cash. Agents report problems with clients’ ability to obtain credit, with many having to make application at several banks.
ICREA
