Yesterday evening, Polish Prime Minister and the National Bank of Poland announced that their aim is that Poland will join the euro zone in 2012. That’s earlier than previous targets (2013-2015).

It is a clear sign that the Polish economy is stable and where is heading. It is a great new for investors, including property investors. It demonstrates that the government is determined to exercise a high degree of fiscal discipline and not be swayed by short term politics.

So we're looking for 2 big events in Poland in 2012 – the euro adoption and the European football championship!

Cheers,
Anna

...and the impact on property prices in Poland will be?

Hi David,

It’s really hard to tell what the immediate effect will be because of the current situation on international financial markets. Forecasting the effect of euro adoption on property market is very complicated and saying that because of the euro prices will drop or fall is just too simplistic.

You have many other factors that come in play when talking about the property price increases, like level of supply or economy performance in general. Plus the effect will also depend on in what cycle the property market is.

However, we can be certain that in the long-term that is huge vote of confidence for Polish economy, and will provide stability. That’s what is already happening in Slovakia, for example.

Euro adoption is very likely to encourage foreign investors to invest in Poland (including property investors). In that matter better infrastructure as an effect of preparation for football championship will be of great importance as well.

Cheers,
Anna