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28 February 2008

Polish prices going up...

one of the reasons I was happy to sell up in the UK and buy in to the Polish property market was the simple fact that Poland is/was cheap but prices are steadily climbing. It's simple economics - zillions of złoty pour in to the Polish economy everyday from foreign companies investing here, Poles abroad sending money back, or Poles abroad returning with their hard earnt savings.

An example is the PLN - GBP exchange rate. A couple of years ago you could get 6 zloty to the pound, now it's around 4.8 zloty to the pound.

But it's a double-edged sword of course - while the increasing strength of the Polish economy makes Poles 'wealthier' relative to established western economies, the cost of living is also rising. Things like food and rent are going up which makes Poland a less attractive and more costly place for me to live. Still, with no council tax to pay (well OK, about £50 property tax a year) and petrol still cheaper than back in the UK I think I will be happy here for some years to come...

Still it pleases me when I see constant reports like this one of foreign companies pouring money into Poland.

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