LOKALE IMMOBILIA

Investment

Poles massively buy houses in southern Europe

Poles are actively buying houses and flats in southern Europe. The most popular are Bulgaria, Italy, Spain, and Croatia. Poles often buy properties that Russians are getting rid of.

Buying a flat in the south of Europe is an investment strategy for many Poles, but also an idea for retirement, writes innpoland.pl. Some decide to take this step because prices in Poland are high, and loans are becoming increasingly difficult to obtain.

One of the most popular destinations is Bulgaria. For example, for the price of a one-bedroom flat in Warsaw, one can buy a two-bedroom flat with a sea view in Bulgaria. A few months ago, it was possible to buy such a property for just €35,000. Now the sums have doubled, but they still attract foreigners.

RESIDENTIAL Prices of studios in Gdańsk outpace Warsaw

For the first time, the average offer price on the rental market in Gdansk has been the highest among the ten cities analyzed by the real estate service Otodom. Gdańsk is even slightly ahead of Warsaw, where the average price for small premises, up to 38 sq.m., amounted to PLN 2,551 compared to PLN 2,577 in Gdansk.

The report also shows that in some cities the increase in offered rents was in double digits. Here again, the record holder was Gdansk - thus, the price increase for flats of 60-90 sq.m. on a month-on-month basis was 17.2%

Hospitality

Hotels in Poland are considering closing for winter to cut energy costs

More businesses are on the brink of profitability due to increases in energy prices. Marcin Mączyński, general secretary of the Economic Chamber of Polish Hotel Management says some hotels are considering closing for winter to cut energy costs.

"Although hotels had a pretty good number of guests for the holidays this year, at a level comparable to 2019, unfortunately, we cannot say the same about profits. What hoteliers earned has been eaten up by rising electricity and gas prices," he said in an interview with propertynews.pl.

RESIDENTIAL Residential real estate prices in Warsaw in Q2 increased by 9.4%

The prices of Warsaw’s residential real estate grew by 9.4% in the second quarter, Knight Frank reported. This puts Warsaw in 72nd place in terms of price growth dynamics among the largest cities in the world. On average, prices grew by 11.7% in large cities globally.

Turkish cities stand out. Prices in Istanbul, Ankara and Izmir grew by 184.9%, 165.4%, and 150.9% respectively, fueled by inflation and low supply caused by high prices of building materials.

RESIDENTIAL Rental prices are stabilizing, but they will not get cheaper in autumn

The rise in rental prices has started to slow down. In July, average rates were only 0.6% higher than in June. It happened due to weaker demand, while the affordability of flats for rent has improved.

The number of rental listings increased for the second consecutive month. There were more than 50% more new ads than in April, according to a report by Expander and Rentier.io.

The report's authors argue that we should not expect to see a clear drop in prices on the rental market any time soon. This is evidenced by the situation in the housing market, i.e. high property prices and high loan installments.