Hi Simon Congratuations on an excellent report from Warsaw. Having seen the boom in Valencia as a result of the America's Cup - I too agree that the effect of Euro 2012 will be to speed up the infrastructural developments in Poland and Warsaw in particular. I also agree that the blue chip areas are great long term locations (if you pick the right deal) and that the new areas offer the higher prospects of short term growth - balanced by a bit more risk. However, given the power of the Polish economy and the boost of Euro 2012 I find it very hard to see any substantial risk in the city at the moment. Still, picking the right deal will become more and more important as prices rise. So, as the prices rise investors need to be more careful / selective - rather than thinking they've missed the boat... Hope this helps. Cheers Neil

Any idea on how the prices for Westland Court are doing?

http: / /www .propertysecrets .net /investment _performance /warsaw .html

That's a really good report and very interesting reading, and there is a compelling case still to invest in the right locations in Warsaw- I still have one hesitation and that is the number of Chf and Euro denominated mortgages relative to zl mortgages, and I think that is still a risk which is absent in the Czech Rep where most lending is in Kcs. Do you think or perceive any risk in this, Simon?

Hi Simon I think you are spot on with every point you make and have just bought another Warsaw property on Bruna. But I am surprised you used last month's Rednet report and not the April one? My own suggestion would be to roll up the last 2/3 months numbers for price trend purposes, in order to smooth out significant monthly fluctuations. For example Rednet's April showed a 3.5% rise in April for Mokotow but had a 4.1% decline in March. Pozdrawiam.