UK-based overseas property experts, Property Venture® is advising property investors about the steady growth demonstrated by Poland, despite the recession across the rest of Europe.
Commented Louise Reynolds of Property Venture®, “As the only country in the European Union not to go into recession, when all the others did, Poland represents a safe-haven economy, which is politically stable and has a buoyant property market. So much so, that even China is investing in the country, with the leading firm in printing cylinders, Shanxi Yuncheng Plate Making Group, building premises there”.
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 and there is a highly skilled workforce in the main conurbations working in white-collar industries, like IT, Accountancy and Law. 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.
Property prices have appreciated in stronger European countries like Poland, whose economic growth stands at 8.1%. Continued inward investment and international employers seeking to bring subsidiaries to Poland, recruiting more people in city centres and special economic zones, like Krakow and Łodz, creates rising demand for property. Property prices grew by over 8% in 2010 at a time when the UK was barely averaging 1% property price appreciation.
Poland is expecting GDP growth of over 3.5% in 2011. Property investors, seeking capital growth and promising rental prospects should think about Poland. Currently a city-centre development in Krakow offering pre-sale prices, offers yields of 8% and solid capital growth. Prices start at £64,000 for a 1-bed apartment.
“It is not your traditional second holiday home destination, but makes a great choice for an investment property. One of the main city centres such as Warsaw or Krakow, has a great deal to offer. Krakow, for example, is very popular as a city centre break, given all its historic connections.
“There is a complex property story within the European continent and within each country. So Europe is not an entirely low-growth property zone,” concludes Reynolds.
For more information contact Property Venture® at: http://www.property-venture.com