Property Frontiers Targets Poland's Local Buy-to-Let Market
Although some 800,000 Britain's now own property abroad very few take advantage of the benefits local rental markets can offer. Whilst most second home owners' op for holiday buy-to-lets that cater for the seasonal tourism market alone, few target the local and expatriate markets all year round. In this way, investors avoid the costly impracticalities of weekly holiday changeovers, and guarantee year round demand. Poland is especially appropriate for this kind of rental strategy.
(PRWEB) November 28, 2006 -- Although some 800,000 Britain's now own property abroad very few take advantage of the benefits local rental markets can offer. Whilst most second home owners' op for holiday buy-to-lets that cater for the seasonal tourism market alone, few target the local and expatriate markets all year round. In this way, investors avoid the costly impracticalities of weekly holiday changeovers, and guarantee year round demand. Poland is especially appropriate for this kind of rental strategy.
Currently, only 60% of Poles own their own home and, as a result, the local rental markets are very strong and are set to increase as more and more inhabitants flock to Poland's main cities. Indeed, FDI in Polish cities is continually rising and a palpable urbanisation ensuing. The rise in FDI is indicative of the country's growing popularity and of the confidence investors have in the market. Furthermore, unemployment has plummeted from 30% to 18% since 2003 and wages are increasing by 4.5%/yr. This, coupled with the young, educated population and their increasing disposable incomes, mean the local buy-to-let market in Poland has the potential to become an incredibly strong one.
Since joining the EU in 2004, Poland has attracted significant foreign investment; currently $6.5bn/yr and these figures are growing. As a result, it is now ranked 5th in the World FDI Confidence Index, has recently been awarded "low business risk" status from Control Risks' report and has GDP growth of around 5%. Levels of borrowing in the country are currently very small; less than 20% of properties are mortgaged and the total mortgage market is less than 15% of the GDP. In general, affordability is increasing and growth potential is enormous.
Bretowska Brama, Property Frontier's newest Eastern European investment development, is located on the Polish north coast in one of the country's economic and industrial hubs; Gdansk. Originally a cultural centre with enchanting streets and architecture, the port now welcomes frequent flights from London and Europe, and is emerging as one of Europe's most popular tourist destinations. Significant infrastructure developments have occurred in recent years including the completion of EURO 38m Gdansk Urban Transport Project. In addition, plans for an airport expansion, new motorway and modernisation of the water and waste water infrastructure have been agreed, all of which consolidate Gdansk's status as growing investment hub.
Even now, demand for new properties slightly outweighs supply. As a result of this limited availability, property prices in Tri-City rose by 13% in the first four months of 2006 and are expected to continue rising in the future. In addition, yields in Gdansk are far higher than average, with short-term lets reaching up to 18% and long-term rental achieving from 7%-10% net.
The development itself is a modern, triple tower residence of 17 stories housing 163 deluxe apartments. Extensive amenities include, fully equipped fitness rooms & saunas, gated underground parking, private gardens, outdoor social areas and 24hr CCTV security. Up to 80% LTV mortgages are available (subject to status), meaning you can invest with as little as £10,000 cash. With only a limited number of apartments available, each Bretowska Brama investment will be sold on a first come first served basis.
In short, the combination of Bretwoska Brama's prime location and stylish finish, coupled with Gdank's growing potential, make investment in this development a shrewd choice.
To view the summary Gdansk, Tri-City investment brochure click here, alternatively contact a Property Frontiers consultant for a full (50 page) investment prospectus.
Provided by PRWEB.com
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