Weekly news review 03.12.2009
Weekly news review 2
Real Estate Market in Warsaw – general description
No more monopoly for Polish Post
By the year 2013 Polish Post (Poczta Polska)will not have been the monopolist on market any more. The government is going to raise the suppression of running postal business activity by private companies. Every 10 years a postal operator with legal rights to provide service all over the country would be selected in the competition organised by the president of The Office of Electronic Communications (Urząd Komunikacji Elektronicznej). New regulations are a way to adapt Polish law for the rules of III postal directive in European Union.
Prime minister Donald Tusk for president?
Donald Tusk constantly appeals for changes in Polish constitution to weaken the role of president and modify the way of electing the head of the country. When he was recently asked about his possible plans to stand for the president, he answered “I prefer to be strong than weak”. If his plans to weaken the role of president would find enough allies, he claim not to be interested in becoming the head of the country. However, if changes in constitution would not be approved, he may stand for that authority and he “would not be without chances”.
600 Polish soldiers more in Afghanistan
Barack Obama has asked Polish government for American contingent support in Afghanistan. Although prime minister Donald Tusk is unwilling towards it, he agreed for forwarding Polish soldiers there. Tusk told he is going to send 600 soldiers and have 200 more here in Poland as uncommitted force. Monika Olejnik, host of a programme “Kropka nad i” asked prime minister about his motives. Tusk explains that this is an investment in future Polish security.
Two deaths during Warsaw Euro 2012 Stadium building
On Tuesday 2th December two construction workers died tragically during building works of the new Warsaw stadium that would host Euro 2012 opening match. One of them was killed on the spot while another seriously injured man was transported to hospital and died there during operation. As far as it is known by now, the reason of the accident was falling of workers’ platform during installation. Construction workers fell 18 meters down. Monitoring cameras record can help to state the circumstances of that case.
Real Estate Market in Warsaw – general description
Today I would like to introduce you to real estate market in Warsaw. It is the first article from the series about properties in the capital of Poland. Warsaw has the lowest index of unemployment so more and more people decide to live in that city. A lot of investors choose to locate their money in capital city’s estates. That is one of the reason why real estate market in Warsaw is most developed in Poland.
There are about 300 ongoing projects in Warsaw. They include residential, office, warehouse and retail spaces. Most of those projects are located in such districts as Mokotów, Wilanow, Białołęka and South Prague. We could have observed stabilization of prices since 2008. Average price of secondary market flat is about 8000 złotych per m2. The most expensive district is Sródmieście with average price of 11 050 złotych per m2. The market transformed from a seller’s market into a buyer’s market. That caused some bargains and discounts offered by developers (for example free basement or garage).
Most in-request properties have good connection with city centre, and are close to public transport, school and medical centres. People also search for green places where they can relax and recreate. Therefore, most inhabitants of Warsaw choose to live in Mokotów, Ursynów, Żoliborz and Bemowo. Warsaw is a place where people also look for high quality and luxurious real estates. Most of such investments are located close to city centre. Average price of apartment in the capital city is around 14 000 złotych per m2. There is a huge demand for commercial spaces to rent, especially in the area of city centre, Ochota, Upper Mokotów, Wilanow, Ursynów and Saska Kępa.
As in other Polish towns, the market became buyer’s market. There is a big competition among developers and real estate agencies so customers do not have to make decision immediately. Prices are quite stable and buyers may choose between a wide range of offers. Experts claim that future situation on real estate market in Warsaw would depend on conditions of banking mortgages. In the next publication about real estate market in Warsaw I would analyze in detail retail market.