First time on the forum... I am currently trying to figure out the real current market value of Oak Terraces II and maybe getting my figures wrong... can anyone help or has done their own independant valuation..

By what PS have communicated ...in the September 08 strategy report the statement was that 'since 'Since the launch of Oak Terraces II there has been strong capital growth. The current average price for black finish units is 6200pln per square metre'. When asking what the current value from PS in Oct 08 they said that it was less than this average of 5870pln/sqm and have not explained the difference.

In the independant evaluation report done for this development (last year) it came out as 7,252.26 pln/sqm. Considering these were sold at 5106pln per sq/m (bought at '22% below market value'). Is this just a representation of the state of the market?? Am I getting my calculations wrong. The true market value seems to have gone down.?

STC, i'm similarly confused on oak terraces prices. it also seems unclear how the £-zloty relationship will develop, with both representing two of europe's potentially weaker currencies.

i have just heard from a fellow owner, who visited katowice recently, that 12% of phase II remains unsold by the developer, and that there are still very few people living in phase I. this level of supply must be weighing down upon the price, even apart from broader factors such as polish banks reducing their mortgage offerings.

the last i heard was that PS was going to give us and in-depth update on poland in january. perhaps they can give us some info in advance of this relating to oak terraces, which i'm sure they must be up to date on?

also, i know PS prohibits me from putting up my email address, but i'd be very happy for them to pass it on to you, STC, and to any other oak terraces owners. another owner (jeff / big dipper) also seems keen to make contact with others in the same boat.

regards,
dan

Hi Dan

PS will not pass any clients e-mail addresses onto third parties, even with your permission this is clearly noted in our terms and conditions.

Kindest regards
Debbie

Thanks for the response Dan.. I think that I would be definately interested in getting in touch with others who have also invested in this development. PS - would it be possible for me to share a generic conference call number and set up a conf call on this for those who wish to join in on the discussion. This is nothing to do with my personal details but is a number that others can call in on?

I am feeling like a lone investor here who has a great deal at stake (don' think I am the only one) and it would be good to share thoughts with others, rather than wait a day or so for a response on a blog?

i'd certainly be interested in the conference call idea.

surely it is not against PS's interests for us to make contact? it might even save the time of those responsible for the development at i-property assets if they don't have to repeat information to all of us.

regards,
dan

hi STC
i spoke to someone yesterday who has several units in oak terraces II and who said they would also be very interested in the conference call idea. why not take PS's no comment as no objection and put up a conference call number? not much to lose.
regards,
dan

Hi guys look at
www.polishforums.com ....look under real estate section... if you need some help on this subject.
Cheers

I also visited Oak terraces recently.....This is a very well finished development in a very good location close to the city center and right beside a big shopping center (Silesia). Both inside and outside its well finished. Spacious area around apartments also and 24hr security. Walk to center in about 15 minutes or tram outside apartment building..

Long term I believe this is a good investment from what I've seen and whats happening around Katowice and whats planned. etc.

We spoke to a guy in the sales office there. He said there were about 50 apartments remaining to be sold in phase II. 500 in total between I and II. The average price is about 6200 pln/m2 but sometimes 5900 for larger ones over 55m2. The smaller ones around 38m2 were most expensive or corner apartments with balcony going up to 6600pln/m2.

The third phase is on hold which means there is probably currently some concerns about demand. This however is only good as it keeps the price stable until demand increases. Rent seems to be able to cover investment..( interest only) but there seems to be no good information available for new builds there yet for rent. There will be a new office block built just across the road but the details are not finalised as to what companies will use it. If this goes ahead it would be a great benefit for company long term rental contracts.

This is all based on so called common sense but I am not sure how the crisis will effect this worldwide.

Does anybody really know or is it a matter of sharing info so we can find our way through this somehow and help minimise risk for each other....

Mark

Hi Stc, Dan, Marky,

I agree with Marky, if we cant discuss it openly here please use www.polishforums.com, ill see you all there.



Thanks,
Big Dipper

also see


http: / /www .propertysecrets .net /forum /oak _terraces _phase _ii _poland _ /10316 /35162 .html#35162