I can add to this real data :-

I bought my Marina Mokotow 2 bed for 408 and sold furnished at 831 (12.000 pln/m2).

I bought my Nowy Wilanow 2 bed for 460 and sold furnished at 700 (8.160 pln/m2).

Highly satisfactory !!

Andrew

To add to the information base, I bought a seventh-floor studio in Galeria Park II, Mokotow, for 407124pln in February last year. Making inquiries to the developer's sales team this week, I discovered I could buy the same sized apartment on the eighth-floor for 406 120pln — a technical loss. I could however still be ahead due to the exchange rate.

David,
I also have a unit on Galeria II, generally because I was very impressed by the Marina Mokotow development and wanted to buy into something "broadly similar".

Unfortunately I think Warsaw "cooled down" at the same time as I bought in. So I'm debating whether to flip as soon as possible, get my money back and invest somewhere else, or whether to buy and rent.

If this development performs in a similar manner to Marina Mokotow, renting for 5 years and then selling would probably be a good strategy.

It'll be interesting to see what the Galeria II valuations are towards mid-2009, when people will be able to flip.

Andrew

We expect Warsaw, and Poland as a whole really, to have a second phase of high growth - much like the Czech Republic and Prague has seen over the last 6-12 months.

When this will happen is the question. Anywhere between 6-18 months is my 'guess'. I've heard 6 months, I've heard 12 months. As always, depends on who you talk to!