The only country in the European Union not to go into recession, when all the other countries did, was Poland. It represents a safe haven economy, which is politically stable and has a buoyant property market. It is not your traditional second holiday home destination, but makes a great choice for an investment property in one of the main city centres such as Warsaw or Krakow, or even buying a holiday home in a place like Krakow, which is very popular as a city centre break, given all its historic connections and proximity to Auschwitz.
Low labour costs and proximity to important markets are making Central and Eastern Europe an attractive manufacturing destination and Poland is key to this. In the major cities, English is widely spoken so a Brit could move to Warsaw or Krakow and work in a white collar industry, like IT, or accountancy. Likewise, the building industry is in demand as the country gears up for the UEFA 2012 Football Championships and is building stadia and improving the infrastructure.
Even China is investing in Poland. For example part of China Shanxi Yuncheng Plate Making Group, (one of the world’s leading makers of printing cylinders), is being built in the ?odz Special Economic Zone (LSSE).
Poland is expecting GDP growth of 3.5% in 2011. Property investors, seeking capital growth and promising rental prospects should think about Poland, where can be yields in Krakow can be > 6%. As international employers seek to bring subsidiaries to Poland and recruit more people in city centres and special economic zones, like Krakow and ?odz, demand for property rises.
Property prices have appreciated in stronger European countries like Poland, whose economic growth at 8.1% bodes well for property markets.
Poland is a good place for investors, with a dynamic economy and inward investment, this is a hotspot. Property prices grew by over 8% in 2010 at a time when the UK was barely averaging 1% property price appreciation.
There is a complex property story within the European continent and within each country. So Europe is not an all, low-growth property zone.
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Property Venture® is an award-winning, UK-based agency for overseas property who helps people buy investment property and holiday homes in Europe, more easily and safely than they can on their own, because we offer grounded common-sense advice.
The focus is mainly greater Europe: Poland property, UK investments, Spain property, Turkey property, Cyprus property
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Tags: European property, First Time Overseas Buyer, Foreign Property, investment property, Kraków, Property Abroad