Investors no longer want to spend a million zlotys on a cubicle in Warsaw. They are increasingly looking at foreign properties that can be purchased for less money. The list of countries competing for Polish customers is long, from houses in sunny Spain to apartments in Dubai, Mexico and Tanzania.
Apartment prices in the largest Polish cities have skyrocketed. You may get the impression that no one controls it. Reports by analysts and financial intermediaries regarding real estate from July, August and September this year are no longer valid. In Warsaw, Krakow or Tricity, a studio or two-room apartment with a small area costs almost PLN 1 million.
Real estate market. Skyscraper apartment prices in Poland
The situation is similar with three-room apartments in the capital, which are much more expensive than they were just a few months ago. Here, prices usually range from PLN 1.5 to 2 million. Many people openly admit that they cannot afford their dream apartment. And young Poles can only dream of a apartment in Warsaw’s Mokotów, Żoliborz, Wola or Ochota districts. As they admit, all they can do is rent a small apartment for an enormous amount of money.
Many of them looked in vain for bargains at Warsaw real estate fairs. Despite great interest from customers, the offer of development companies was very limited. No one offered any promotions or price discounts. Apartment prices most often started from PLN 20,000. PLN per square meter To the visitors’ surprise, the capital’s largest investors did not participate in the fair; instead, foreign investment intermediaries appeared.
Poles are looking for cheaper real estate abroad. Offers from almost all over the world
The list of real estate offered outside our country is really long. Not only intermediaries in Spain, Bulgaria or Cyprus compete for a Polish client or investor. A wide range of apartments has been prepared by companies operating in Montenegro, Albania, Greece and Turkey. There were also numerous offers for sale of apartments on other continents.
“Montenegro: invest now, prosper tomorrow” – encourages CMM Investment Consulting Group to purchase real estate in Montenegro. The cheapest apartments in the Budva region can be purchased for as little as PLN 32,000. euro. For this amount you can buy a studio apartment with an area of 29 sq m. For a larger apartment with an area of 74 sq m. you have to pay 77 thousand euro.
In turn, the apartment has an area of 52 sq m. in a new complex with a swimming pool on the roof and a sea view can be purchased for PLN 131,000. euro. Larger apartments with an area of 101 sq m. they cost 213 thousand euro. Customers also asked about residences in Becici, which could be purchased for PLN 175,000. euro and two-room apartments in Tivat with a panoramic view of the bay for PLN 160,000. euro or two-room apartments with an area of 81 sq m. in Morinj for PLN 200,000. euro.
Apartment prices in Turkey surprised many customers
The Róża Wiatrów complex was very popular. 60-meter apartments there cost PLN 150,000. euro, and the largest apartments with an area of 156 sq m. are priced at PLN 210,000. euro. Real estate in Turkey turned out to be a sales hit. The cheapest apartments could be purchased in the seaside town of Mersin. To become the owner of an apartment, PLN 40,000 is enough. euro. A bit more expensive, from PLN 60,000. real estate prices in Antalya started in euros.
Turkish companies also offered more expensive premises in Istanbul, Trabzon, Bursa, Ankara, Bodrum and nearby Cyprus. “The cheapest apartments on Aphrodite Island can be purchased for EUR 70,000-80,000,” argued the agents. A modern apartment in Nicosia, the capital of Cyprus, costs from PLN 230,000. euro.
Owning your own house in Spain is the dream of many people
The most popular properties were in sunny Spain. Customers most often asked about houses and apartments priced from PLN 150,000. up to 200 thousand euro. In addition to the price and area of the premises, customers also asked about the distance to the beach. The cheapest apartments in the second line of buildings could be purchased for PLN 120,000. euro. “It’s cheaper than in Poland” – said customers browsing real estate offers.
As one of the salespeople explained, the fashion for purchasing real estate in Spain began just after the outbreak of the war in Ukraine. Customers most often decide to buy an apartment in older buildings or a house in Alicante on the Costa Blanca, or in Malaga on the Costa del Sol. More modern apartments were already twice as expensive.
Companies encourage customers with high profits from renting an apartment
Real estate agents also encouraged people to buy flats or apartments in more distant places. “Invest in Mexico”, “We will help you fulfill your dreams of real estate abroad”, “Miami Towers. The first sea line in the Spanish Caribbean”, “Make money on your house in Zanzibar” – these are just a few of the many marketing slogans with which they wanted to convince Polish investors.
“Buy an apartment or villa on the paradise beach of Zanzibar in the Cocco Lagoon hotel complex and earn 25 percent. per year,” other sellers encouraged. Tanzanian real estate prices surprised many people. For the cheapest studio apartment with an area of 28 sq m. you have to pay 280 thousand PLN, i.e. 10 thousand. PLN per square meter House with an area of 111 sq m. can now be purchased for PLN 1 million, i.e. the price of a two-room apartment in Warsaw.
Mexico is a new destination for investing in real estate. It is cheaper than in Poland
Homexico, a Polish real estate agency in Mexico, encourages you to invest in the Mexican paradise. Prices vary, depending on the investment, location and area of the property. The cheapest studio apartments can be purchased from PLN 93,000. dollars. For an apartment with an area of 64 sq m. in a ready-made investment in Playa del Carmen they cost from PLN 175,000. dollars. “This is a complex for families with children, for whom there is a children’s club, a swimming pool with a paddling pool in the family zone, and a cinema hall,” the investor encourages.
The company’s offer includes several other investments where you can buy an apartment for PLN 109,000 – PLN 180,000. dollars. Apartment in Tulum with an area of 34 sq m. costs PLN 127.9 thousand dollars, and a larger apartment with an area of 75 sq m, located 350 meters from the sea in Playa del Carmen, costs PLN 175,000. dollars. You can also buy a house with an area of 141 sq m. in downtown Tulum priced from PLN 161,000. dollars.