Polish property market

rosboy

Hi all.

A little over a year ago I bought an apartment (off the plans) with some friends in Lodz in Poland. Its in a very good area that was appreciating well before the sting really came in the global slow down. The property was due be started about 6 months ago, but has yet to do so. I got an email from our Irish agent for the property who tells me that, due to labour shortage and other factors, the development won't now start until March of next year (about a year late), and won't finish until the end of 2010.

Can anyone shed some light on this situation for me. Has there been a slow down in construction in Poland (Lodz in particular)?

irish_bob

rosboy wrote: »

Hi all.

A little over a year ago I bought an apartment (off the plans) with some friends in Lodz in Poland. Its in a very good area that was appreciating well before the sting really came in the global slow down. The property was due be started about 6 months ago, but has yet to do so. I got an email from our Irish agent for the property who tells me that, due to labour shortage and other factors, the development won't now start until March of next year (about a year late), and won't finish until the end of 2010.

Can anyone shed some light on this situation for me. Has there been a slow down in construction in Poland (Lodz in particular)?

may i ask who the agent is

rosboy

Future Capital.

irish_bob

rosboy wrote: »

Future Capital.

never heard of them so i cant comment

property has fallen in value the world over this past year so poland will be no different

pocketdooz

rosboy wrote: »

Hi all.

A little over a year ago I bought an apartment (off the plans) with some friends in Lodz in Poland. Its in a very good area that was appreciating well before the sting really came in the global slow down. The property was due be started about 6 months ago, but has yet to do so. I got an email from our Irish agent for the property who tells me that, due to labour shortage and other factors, the development won't now start until March of next year (about a year late), and won't finish until the end of 2010.

Can anyone shed some light on this situation for me. Has there been a slow down in construction in Poland (Lodz in particular)?

Quite the opposite - the unemployment rate in Poland is plummetting and construction is booming.

It's probably these factors that are causing the labour shortage. However, if you're buying it for capital appreciation purposes, you should be happy enough with this develpment.

Dob74

rosboy wrote: »

Hi all.

A little over a year ago I bought an apartment (off the plans) with some friends in Lodz in Poland. Its in a very good area that was appreciating well before the sting really came in the global slow down. The property was due be started about 6 months ago, but has yet to do so. I got an email from our Irish agent for the property who tells me that, due to labour shortage and other factors, the development won't now start until March of next year (about a year late), and won't finish until the end of 2010.

Can anyone shed some light on this situation for me. Has there been a slow down in construction in Poland (Lodz in particular)?

Get your depoist back if you can. Unemployment is still higher in poland than hear. Labour shortage sounds like aload of Bull. If there was a labour shortage they would have started the construction it would just take longer to complete the building work.