Decrease in interest in buying Krakow's properties

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The interest in Krakow's properties among foreign buyers has dropped by 40 per cent since last year. The experts claim that the prosperity period in the housing trade is over and the situation is not going to change within at least two years.

At present, foreigners are no longer so willing to buy flats and apartments in Krakow, and would rather invest in Romanian or Bulgarian cities, however, at the same time, they are getting more interested in commercial properties in central locations.

The reasons for this situation is strong Polish currency, new EU members, a slowdown in 2007 property boom and a gradual stabilization of the housing market in Krakow.

According to the experts, the decrease in demand for privte properties is only temporary and will increase again in a few years.



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