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Jack Walker · Joined: 23 Oct 2008 Posts: 412

This is connected a little with my previous topic about the cost of living.

I often wonder how many middle aged and elderly Poles often seem to have at least 2 or 3 flats under their ownership and a house in the village as well.

They often own these places outright, but I can't for the life of me, figure how they could have afforded those places.

A Polish friend of mine in the real estae business told me that when socialism collapsed,many flats and houses were being sold for ridiculously low amounts of money.He said some newish flats in the bigger cities were being sold for 1,000zl -2,000zl(Poznan,start of the 90s) and many people took advantage of this.I guess it sounds plausible.

I can't tell you how many of my students live in flats owned by their parents, while their parents live in their own flats a few kilometres away and they tell me they like to spend their weekends in their country house out in the village or in the mountains somewhere.

These people aren't rich by any means, but they often seem to own a lot of real estate.

Harry from NWE · Joined: 13 Sep 2007 Posts: 283

What your student said is correct: a lot of state-owned flats were basically given away to their owners.

Another factor to consider is that old Poles will very very rarely sell their apartments/houses. It is considered far more important to pass the property on to one's children than it is to have things like food or heat. In the building where I live property prices are 12,000zl per square metre and the smallest flat is 36 metres, the average is about 45 metres. Most of the old people in the building are struggling to make ends meet. They could sell their flat and buy something smaller (say 28m) and have 200,000zl in the bank earning 10% interest and then live off the interest and 5% of the capital per year. That would give them 30,000zl per year for 20 years (2,500zl a month) but none of them actually do sell, much more important that their kids have the flat....

Jack Walker · Joined: 23 Oct 2008 Posts: 412

Nice post Harry.

I think what you said is correct.I also see a great many elderly Poles with a small fortune in real estate but at the same time are struggling to make ends meet.

I guess the inheritance issue is very important.

lundjstuart · Joined: 01 Jul 2008 Posts: 211 Location: Warsaw, Poland

I would have to agree with Harry on this one because for the basic fact that family here is very important! Living alone, 28m would be enough to live in comfortably!
If it wasn't for the Polish family that I have, I wouldn't be living in a posh 84 sq/m flat! I do have to say my wife's family is well off!

sharter · Joined: 25 Jun 2008 Posts: 878 Location: All over the place

Yep...and when Poles get married.....they often get a flat or land as part of the wedding package.

Unlike in the UK where you get a good punch up at the reception spend the next 5 years paying for the wedding, by which time divorce proceedings have already started.

I am simply amazed that Poles have the things they have, given what the majority of them earn.

That said, most Polish girls I've gone home with have only had a triangle of Dairy Lea, a gherkin and some of that weird mackerel butter paste stuff in the fridge. Certainly no cure for a hangover.

My ex-wife's family were loaded like mine; several houses, the Merc, several shops etc but they used to charge me petrol money when taking me, their daughter (my wife) and grandson (my son) to the airport.

Maybe I was just unlucky! Poznaners are famous for being skinflints.

Jack Walker · Joined: 23 Oct 2008 Posts: 412

simon_porter00 · Joined: 09 Nov 2005 Posts: 505 Location: Warsaw, Poland

When living in Krakow years ago and realising this exact same problem i pondered about how to relieve these old people of their flats.

Killing them wouldn't have the desired effect although it would bring newer younger poeple in who smell a little less of wee.

Befriending them was also considered to be a notriously unreliable source of free real estate as you'll have to convince the old codger to sign a will leaving everything to you. Also Polish law has some say about family members (if they had them) inheriting part of the estate.

The only way I could think of was to blanket advertise each block with leaflets of - you're going to die, sell your flat to me and you'll get some cash to see you out and i'll take possession once you're pushing up daisies.

N.B. needless to say some of these are tongue in cheek.