Hi,

Anyone know the typical price/m2 in Warsaw by regions?

Had an email from Rednet saying that a purchaser wants to buy at Westland Court (Wola) for 400,000PLN for a 50m2 1 bed.

Is that a typical current valuation, i.e. 8,000 PLN/m2 ?

Do you count external balconies, car parking, fit out within the m2 price??

Does anyone really know how to value property over there at the moment?!

Cheers.

Seems on the low side as I was offered identical price/m2 for my 1-bed Krakow apartment. My CHF mortgage negated any profit so didn't bother. I didn't even go down the CGT route/agent fees - additional factors to be taken into account.

Sorry no idea on what basis the actual area is calculated.

It is normal to quote an all inclusive price when selling on the secondary market . ( Normal to build in your agents fees also & bear in mind that the prospective buyer will try to negotiate up to a 10% discount off your original asking price )

So , if PLN 400k for 50m2 includes your parking space , then it is on the low side & you should probably be looking for closer to PLN 9k m2 all in .

The difficulty is that there are some good deals available at the minute on the primary market ( I know of units in wilanow which are on the market at PKN 5k m2..their original price was PLN 9k m2)

So, it really depends on how much your prospective buyer actually wants your particular unit & if they are willing to pay the market price .

It's a peculiar market here at the minute beacuse of the deals being offered by developers & the overhang of newly delivered property available .
However , this will all change in the short term as the deals will dry up as property starts to sell & with very few new developments starting, the demand for good quality secondary market product will increase .

Thanks for the posts.

I'm not even looking to sell just got an email from Rednet saying they have a desperate buyer for the development!

I certainly have no intention selling at a loss (CHF issues also!). Always had a 10 year minimum time frame in mind and don't intend changing that.

Think long term 10-20 years, Warsaw will prove to be very good investment.

It does seem peculiar the market over there. Hopefully the supply will dry up. I assume there has been no new developments the past 12 months starting???

Cheers.

halo Tom

I suggest that you ordered property valuation. I organized it by Daniel Podpora for 500 PLN for my unit in Inflandzka

regards
Mark

cc,

I intend to buy in Warsaw within the next couple of months. I will be over there at the beginning of August.

Is there any chance you could give more details on the development in Wilanow which you mention? Or could you suggest a good source of information on these kind of primary market deals in Warsaw?

Thanks

Hi minsk,

The majority of developments in Nowy Wilanow all have sales offices on site so you shouldn't have too much trouble finding property at an attractive price .
I would advise not limiting your search to Wilanow though as all of the major developers have deals of some sort at the minute .
I am reluctant to post specific developers/developments/deals that I know of on the forum , but with a little bit of legwork & independent research you should be able to find what you are looking for .

Thanks for the advice cc, I understand that you don't want to post specifics.

I'll be there for a week so I'll have enough time for a good look around.

Hi Tom,

I have just signed a preliminary sale agreement on my 1 bed Westland unit for 375K. Probably on the low side, but I don't have a mortgage on it and decided there is a significant opportunity cost given local deals.

Mark

Thanks for the info Mark.

If thats the going rate then those who bought into Phase 2 have been well and truely done!

Was your unit with full fit out and parking?

Cheers.