Holiday properties: instead of the Baltic Sea, hot Dubai

Poles are not only interested in buying holiday apartments in the sunny south of Europe. They are increasingly willing to invest in Dubai. Real estate prices there are comparable to Polish real estate on the Baltic Sea or in the mountains.

Ewa Kumorek-Fedor, president of the Individual Women Investors’ Club points out that the huge boom in the purchase of real estate abroad has caused a pandemic in Poles. 

"The possibility of working from home, and in fact from anywhere, opened up a whole new way of thinking about investing in real estate. Poles have looked further than the Baltic Sea or the Polish mountains in search of holiday apartments," Ewa Kumorek-Fedor evaluated.

 According to analyzes of the web portal InwestycjewKurortach.pl, currently in Polish tourist destinations the average prices of apartments on the primary market fluctuate around PLN 13,000-16,000 per sqm net. 

"To buy an apartment with a view of the Baltic Sea from a developer, located right on the beach in a well-known resort, a buyer must reckon with the expense of even PLN 30,000 per sqm net," Marlena Kosiura, a resorts analyst, pointed out.

 At these prices, to buy an apartment with a sea or mountain view, potential buyers should have a budget of PLN 500,000-800,000. Meanwhile, a similar amount can buy an apartment in Dubai. Daria Gohari, Senior Property Advisor in Lions Estate agency explains that a 40-square-meter apartment in this city currently costs around PLN 500,000-600,000.

(WBJ)