News: Investors laud 'cracking Krakow'

Tue, 25 Sep 07

The Polish city of Krakow has been showered with praise, as both a holiday destination and an investment location...
Strong price growth took place in a number of areas of the Polish property market in 2006 and, according to Rhiannon Williamson, director of impartial research group Amberlamb, this is a result of the country’s many holiday hotspots.

Krakow saw average gains of 58 per cent in real estate prices in 2006, with some units even seeing price rises of 100 per cent.

According to Ms Williamson, this activity is based on travellers and investors realising that Krakow is a "stunning and historically amazing city with a fantastic social scene".

She added: "Those looking for emerging potential from property in Poland should look to the coast or the mountains.

"Along the coast you have some beautiful seaside resorts and in the mountains in Poland there is excellent skiing."

Ms Williamson also pointed out that, despite recent growth, many areas of Poland still offer property that is more affordable than in other popular markets.

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