Apartment for sale in Gdansk. Avalon Development - 20 off plan units available in an upmarket location in the thriving city of Gdansk.
Description : The Polish property market is currently experiencing a period of unprecedented growth. Land values in certain regions grew by up to 70% in the past 12 months. With low interest rates, strong local demand for residential property and major inward foreign direct investment, property prices should continue to climb steadily. Poland has the biggest local apartment market among the new EU members. Demand for apartments is very strong unlike other 'emerging' European markets which are dominated by foreign buyers and the property price level in the most expensive cities is still very low in comparison to other EU states. Poland is anticipating significant increases in apartment prices. Only last year some prices increased by over 50%. An estimated increase of 15% - 20% annually is generally foreseen into the medium term. Poland is dominated by the youngest population in Europe. 50% of the population is under 35 and most are multi-lingual with English a standard school subject. With a population of just under 40 million, Poland represents a substantial indigenous market to any corporation but it is also geographically strategic in terms of logistics and communications with surrounding EU countries and Russia. Large discrepancies between salaries in big towns such as Gdansk and the rest of the country result in a permanent strong inflow of population to these towns. Growth in real salaries is driving increased purchase power for a majority of poles. Locals can currently avail of 100% mortgages and the low interest rate environment has created a 'frenzy' of buying among the Poles. Poland has seen a strong, systematic increase in GDP, on average by ca. 5% during the last decade and Poland is now rated 5th in the world FDI confidence index. It was recently announced that Poland will be joint hosts with Ukraine for the UEFA European Football Championship in 2012. Gdansk is a historical port and industrial centre. It is Poland's 6th largest city, situated in northern Poland on the Baltic sea and representing a crossroads for trade routes from Germany to the East. An attractive city, located on the coast, tourism is high for national and international visitors, and airport expansion and historic-city development programs help tourism rates continue to grow at 15% per annum. With large government and municipal expenditure developing the Tri-City rail and road networks, the Special Economic Zone of Sopot to attract business, and the very high level of education, Gdansk continues to attract multi-national companies and leads the Polish hi-tech industry- with companies such as Intel, GE and Pro-logis recently opening up headquarters there. Combining high education with a prime location, unemployment is extremely low- almost the lowest in Poland. Because of this, wealth is increasing rapidly in this region and so demand for good property is high whether it is property to rent or to buy. Gdansk has some of the lowest property prices in Poland out of the 10 main cities. Local wealth & overwhelming demand is driving up prices in Gdansk but an important point to note is that Gdansk is much earlier in the property cycle than cities such as Warsaw and Krakow leaving a much greater upside for capital appreciation in the short to medium term. Avalon is located on Wielkopolskiej Street in the district of Gdansk Lostowice, 7km from Gdansk city centre and 17km from Gdansk International Airport with good access to both the city centre and motorway connections. Public transport routes are located in close proximity to the development. The area is one of the fastest growing and in demand residential areas in Gdansk. Avalon consists of three separate buildings individually situated to maximise natural light into each apartment. Many apartments offer excellent views of the surrounding area. The total number of apartments within the whole development is 155. Building I consists of 29 apartments, Building II of 102 apartments and Building III of 24 apartments. In addition, three commercial premises will be located on the ground floors of Buildings I and II, providing amenities for owners’ convenience. There will be a total of 110 underground and 80 outdoor parking spaces including spaces designated as visitors parking. All apartments will have access to storage cellars located on basement or apartment levels. All staircases will have lifts with direct access to all storeys including underground parking levels. There will be a fitness centre and sauna facilities on the basement level of Building II. The development will be landscaped to include attractive gardens and children’s play area. There will be 24hour CCTV monitoring of the development. Apartments in Poland are sold in what is commonly referred to as “Developers Standard” or “Black Finish”. Kitchens, bathrooms, interior painting and flooring are not included in the price. Buyers will be offered a “white finish package” to include kitchen, bathroom, flooring and all interior finishes at competitive rates during construction of the building. This will cost from €10,000 to €15,000 depending on the unit size. The cost can be included in the Polish mortgage. Furniture packages will also be available for those buyers so interested. Furniture packs cost from €3,000 to €5,000.