As I'm sure most of you already know, I have been looking after the Polish operations for a while now, I will be writing a regular blog here to keep you all updated with the latest Polish property and financial news along with progress on specific developments. Today we'll look at recent rental levels achieved.

We have had a number of rental successes over the last few months, some examples below:

Silesia apartments, Gliwice - three 2 bedroom apartments (in the new build block) let for 1600, 1700 & 1700 PLN (plus service charges for all).

Oak Terraces, Katowice - 2 bed for 1500 PLN and a couple of 1 beds for 1250 & 1300 PLN (plus service charges for all).

Platan, Swinoujscie - 2 bed fully furnished for 1500 PLN and a several 1 bed's ranging from 1050-1200 PLN depending on size (plus service charges for all).

Lumiere, Warsaw - 1 bed for 1850 PLN and a 2 bed for 2400 PLN

Marina Mokotow, Warsaw - 1 bed for 2000 PLN

Metro apartments, Warsaw - our clients 1 bedroom apartment was let very quickly and unfurnished for 1800 PLN, there were a number of disappointed potential tenants, so good demand for this development and prices can probably creep up.

Looking ahead, we have several handovers booked at the unique Cotton Mill development in Lodz towards the end of June, with fitouts scheduled to begin straight after to ensure we minimise the all important timeframe between handover and having the unit ready for rental. It is important that this process is well managed and for clients to be organised so that everything is in place to avoid delays. For example, if the fitout is being financed by the bank they will need a copy of the handover protocol document in order to release the first stage of funds.

With mortgage payments and apartment service charges accruing from the handover stage (if not before !) the priority should be to get your apartment ready for rental and a tenant found so that the apartment can start paying its way as soon as possible.

Now that spring/summer is finally with us, the Polish property market is a little more lively, but still pretty flat in terms of sales prices for now. Sales are happening if priced correctly, we have sold several in Future City as mentioned in my last article, I'll have some updates on recent sales next time.

For all Polish property queries, fitout quotes, property management or just advice including portfolio analysis please get in touch.

Antony Tilney

Email me at antony@ceeproperty.co.uk
Or call
Office: 01428 607369
Mobile: 07966 203482
Web: www.ceeproperty.co.uk