Published: 9th September 2013
Recent years has seen the market for property investment in Poland undergo a major transformation, as political stability and strong levels of tourism and economic performance have increased investor confidence in the region. Today, there is a strong demand for property in Poland, both across the residential and commercial sectors, and in particular within the major cities such as Warsaw and Krakow, where increases of over 40% have been witnessed in the past few years.
So why should you consider investing in property in Poland?
1) Tourism - Poland has a strong and increasing market for tourism, and with an increasing number of cheap flights now visiting the region, the revenues from tourism seem set to continue for the forseeable future. As well as the major cities such as Warsaw, Krakow, Lublin and Poznan, Poland offers a range of Baltc Sea coastal resorts, forests and skiing resorts. It is still relatively early days for the market for tourism in Poland, however they are certainly heading in the right direction, and in 2007 Poland benefited from over $6.4 billion in tourism revenues.
2) Political Stablility - Since the move to democracy in the 1990's, followed by Polands accession to full European membership in 2004, investor confidence in Poland has increased. Poland is today seen as one of Europe's most progressive markets, and as a result is seeing increased levels of foreign direct investment into the country.
3) Economic Performance - Coupled with the political stability and foreign direct investment into the country, Poland has performed well economically in recent years, and as present is witnessing GDP growth in the region of 6-7%, with relatively low inflation rates.
On the back of these and other contributing factors such as the relatively cheap property prices, there has been a gradual increase in the market for property in Poland. At present, these conditions show no real signs of slowing, which given the relatively adverse conditions elsewhere have resulted in Poland becoming a more attractive investment option in recent times.