Polish cities attractive to foreign real estate investors

Foreign investors have been pouring huge amounts of money into flats in Poland's major cities expecting to reap speculative profits from the booming property market. Foreign demand accounts for 30% of new flats sold in Cracow and 20% in Warsaw and Gdansk, the report says. But it is Sofia that offers best future prospects for residential property investment, followed by Bratislawa and Warsaw. While prices in Bratislava, Prague and Budapest are likely to continue growing, increases will be slower in Warsaw and the Baltic states. At EUR1,750, the average price per square meter in Warsaw is second only Kiev at EUR2,000.(Gazeta Wyborcza, p. 26) R.M.