Hi Mike: In response to your thread on EEC. I do not know why you have taken my remarks so personally?.I am only airing my views after the experiences I have encountered, I certainly have nothing against any Eastern European citizen,I like them very much.In fact I have Poles, Czecks,Slovakians,Bulgarian as my tenants in London and they are fantastic!I am referring to a regime that was in place during the communists era and unfortunately changes take time to adapt. i.e. the system for mortgages etc. They are doing a great job but it will just take time to adjust.They even admit this themselves, the young have a different mentality.I wasn't actually referring to Poland,so far so good, hassel but acceptable. Prague,some probs but hopefully OK. However, Bratislava, in Slovakia for the 'crossroads' deal has been the biggest issue. Due to no fault of my own. (I could make the list but I feel this should be said verbally) yesterday the developper pulled out of the contract and now I have to pay him 7% increase to keep the apt. The solictor says I have had a series of bad luck, and he is very sorry for me. This is after the developper was sitting on the preli.contract for 33 days!Friday the money went in with a hiccup, Monday he would have had all, but decided I should forfeit my 7% discount from PS.You can not believe the hassel I have had on the property.Narrow minded am I. I have mortgages in Panama, Barbados,France, Portugal,Spain USA etc... and shortly Brazil and I have never encountered the problems like I have in the ones mentioned. As I said previously in other threads, I think that PS should outline these issues clearly in their brochure, they have done a lot of research and investors were going into an area unknown. Yes, of course I did my own research. I went over there. However, all the hassels materialised later. Lynn

Hi Lynn Apologies for my tone before. I did mean what I wrote but not quite with the tone I now realised it had. Your last post makes interesting reading with regards to highlighting real issues. I appreciate that you have encountered some tough stuff. The thing is, I'm quite new to this. I am still learning about the risks the potential rewards, and find both sides interesting. I am just, for reasons I'm not 100% sure about, getting frustrated with investors who expect to earn money and expect an easy ride. I am not implying this is you at all, after reading your last post. I take back my narrow-minded comment as well. I see you have more experience than I anticipated. It's just that I spend a lot of time in Poland, and (as a Brit myself) am fed up with the average British perception of this country (I'm not saying that is you). There is a lot of change needed, but backwards they are most certainly not. Progression there is just amazing (and I don't just mean economically). Let me explain the background to my finance comments. Since getting involved in property, I have heard so many investors complaining about getting finance (especially with regard to Poland) as if it is their god-given right to get it. I think we all do or should appreciate that we all take the risks and if we go through this process of agreeing to buy first, get finance later, then we risk not getting it at all. I'm sure you know this. It's just my feeling on the matter. Anyway, I'm concerned by your comment re. the developer pulling out threat! How can they? From a PS deal? What did PS say? Hope you sort that out. Regards, Mike

I too am a little confused ..... it must be international investors rather than domestic - well it seems that way after reading this. Hungarians’ net income is second lowest 30 Aug 2007 bbj.hu According to Deloitte Hungary, Polish, followed by the Hungarians, would get the lowest net income from a €500 gross wage in the Visegrád Fours. Deloitte’s calculations are based on the average wages and salaries, and on the current tax regulations in the Visegrád Fours. Hungarians’ net income from a gross €500 would be at 72.4% and the Polish would get 70.67 % of it, while Czechs would keep 84.42% and Slovakians would keep the most of it: 85.65%. Net income is 57.2% of the gross income in Hungary, 68.35% in Poland, 78% in Slovakia and 79, 79% in the Czech Republic if calculations are based on €1000 gross income. Though there are similar social security liabilities in all the four countries, significant differences are apparent in a comparison owing to differing tax systems. (Gazdasági Rádió, Magyar Hirlap)