Did you know which the fastest growing economy in Europe is? Is it Germany? Spain? The UK, maybe? No, Poland is the fastest growing economy in Europe and has been so for a long time. In fact the GDP growth rate in Poland never fell below 2.5% even during the 2008 economic recession that hit most countries in Europe.
What does this mean for you if you are looking to sell your property in Poland fast? Well, Poland may have a recession proof economy, and a very healthy financial market, but the real estate market in the country is yet to take off. Indeed, property prices in Poland are still 30% lower than their highs, last seen in 2007.
For investors in overseas properties, this is actually an excellent buying opportunity. While Poland’s fundamentals are pretty strong, the real estate market still has a lot of catching up to do. This means real estate in Poland is seriously undervalued.
Poland actually has some of the best rental yields in Europe. The rental yield of 7% is much higher than what you would get in some of the fancier places in Europe such as Spain and Portugal.
Investors in Poland can benefit from the high rental yields and the prospect of a massive capital appreciation in the future. What’s more, the standard of living in Poland has improved tremendously over the last decade and a half.
Poland is no longer a poor country. It is a middle-income country with a large middle class. There’s a lot of wealth in Poland and the standard of living has improved by quite a lot over the last few years.
The real estate laws in the country are less restrictive than before. Anyone can buy property in Poland. Buyers from European Union member states have the same property rights as Polish citizens.
So where will investors find the best properties for sale in Poland? Warsaw and Krakow are the biggest cities in Poland and it is here that investors will find the best opportunities. Warsaw is the capital of Poland, and its financial centre.
Warsaw is completely different from how it used to be when Poland was a communist state, over thirty years ago. Today, there are flashy skyscrapers and apartment blocks across the city. It is in Warsaw that you will find the best real estate opportunities.
Krakow is different from Warsaw – it is quieter and calmer city, with a laid back lifestyle. Tourists love Krakow, there’s a lot of history behind it. It’s one of the few cities in Eastern Europe that wasn’t bombed during the World War 2, which is why it still retains beautiful structures, parks and monuments built hundreds of years ago.
Krakow has something that Warsaw doesn’t, and it’s called charm. Those looking for a second home in Poland will fall in love with Krakow at first sight. However, from the investment point of view, Warsaw is better as apartments in Warsaw have a rental yield of 8%, which is one of the highest in Europe.