Cracking open the real estate market in Krakow; Is Poland the new Park Slope?
Time was when the sage advice was to "go west young man" in search of fame, fortune and nifty real estate deals. But in 2009, heading east may be a better idea. At least if you are starting out in the U.S. And, when I say east, I mean like all the way to Poland! Now hold on to your Polish zlotys while I explain this one:
Seems Poland, Krakow in particular, is a darn good place to not only indulge in a sausage or two, but also to buy up chunks of real estate at prices that are down anywhere from 9% to 17%.
And, folks, we're not talking coffin sized Manhattan-style studio condos, either. A New York Times piece tells about a duplex apartment that comes complete with a master bedroom that happens to have a whirlpool tub; a basement level complete with sauna; central air conditioning to keep you cool and radiant-floor heating in the bathrooms to keep your feet warm. And, all this and more can be had for only 1.4 million Polish zlotys. Don't choke on your pirogi, that's a mere $478,000. Anyone have an airline schedule to Poland handy?