I am new to property investment, I am interested in investing in Krakow for a maximum of £70 000. I have been looking for some off plan properties as well as resale properties.

I am a bit confused if I should go for Off Plan or a resale property (from the secondary market - older buildings)

I am also wondering where you shop around for the off plan properties is it on the internet. I have checked on this website for some properties in Krkow but it seems like they are older developments from 2005 - 2006.

Many thanks

Property Secrets have indeed done some off plan deals in Krakow. We haven't done any for a while because the first phase of growth is now over (we believe as a company).

There will be a second phase of growth in Poland, as we have seen in the Czech Republic, perhaps starting in the next 12 months - or sooner. Whether or not Property Secrets would recommend Krakow again when that occurs, however, is a different matter. It's possible.

It is cities like Lodz that will probably benefit most according to our analysts.

If you wish to buy in Krakow now then it's likely you won't see any growth for quite some time and that's why Property Secrets would advise against it.

Of course, if you believe different then we would like to hear your views. Good luck in the meantime.

I totally agree with Ben, krakow is very expensive now and the exchange rate is terrible, rents are still not that great either. I do know of a company that does some off plan in krakow and also Bielsko, they will also help you find older stuff.

Hi New Investor,

I think I can recommend Tom Leach of leachandlang.com for focussed, personal advice on the situation in Krakow, including for older properties.

Good luck,

Howard.

Thank you so much for your responses. I am now researching countries like Czech Republic, Romania and Slovakia

sounds like a much better idea!

'sounds like a much better idea!'

Really?

I think Poland has a lot of potential for a good deal right now, although I personally would steer clear of Krakow. I am generalising, but I think by the time you made an investment in Czech Rep or Slovakia, most of the second wave gains will have been realised.

well you may have a point, although having bought in krakow at almost 7 zloty to the pound I just could bring myself to do it at todays rates......

Hi Ben,

I'm looking forward to the second wave in Poland. I'm interested to hear that your analysts are tipping Lodz as opposed to Krakow. Why do they say this? Does it apply across the board to 2nd tier vs 1st ties cities?

Purely took a comment I overheard in the office, minsk! I doubt very much it applies across the board. If/when Poland gets that second phase of growth then Warsaw will benefit, just as Prague did I would think.

The reason Lodz is tipped as better than Krakow I THINK is because Lodz has loads of potential and yet didn't get a huge boost from the country's first growth phase. Krakow, on the other hand, did, as we all know. So the second phase will benefit Lodz and this is something I buy into myself (I don't always agree with our analysts!).

The potential of Lodz - we did a couple of deals there - I find very convincing. Krakow is a beautiful city but I get the feeling the growth ceiling isn't too far away, whereas in Lodz its a long way off.

My gut tells me this is the case, not just the analysis - put what faith in THAT you wish, minsk!