Krakow is expanding and it is visible at every turn. Wherever you look, you see new blocks of flats, office and apartment buildings. There are few reasons for this growth: a few years ago Krakow underwent an absolute invasion of tourists mainly from Great Britain. Cheap flights and high Euro rate were the reasons why people thought it paid to come here for the weekend.

Almost at any time of day or night one could meet in the streets of Krakow British guests who liked to organize stag parties here. As renting privately owned Krakow apartments got increasingly popular, the interest in the real estate market in Krakow grew. People appeared who intended to turn their occasional accommodation in Krakow into their own apartment, a serviced flat rented for short-term stay to tourist whenever the owner did not need it. The situation was immediately used by the developers who started a large number of building investments. Currently there are apartments waiting for their owners in Kazimierz and other parts of the city, in Podgorze, Salwator, Krowodrza and Ruczaj.
The prices of flats in the city centre like this, by the Wawel Castle increased by as much as 250% in the last few years. Therefore not everyone can afford to own a place in Krakow. One can only hope that in the nearest future the prices for a square meter will again become affordable for an average person here in Poland.

Some people say that that the tendency is slowly beginning to reverse. We are witnessing the effects of the financial crisis here. Mortgages are no longer so easily accessible and the decreased number of tourists coming to Krakow caused stagnation in the property market. Those who own old town apartments are probably more willing to wait than to sell their property with what they see to be a great loss of value. On the other hand it’s good that the properties slightly further away from the city centre are getting cheaper – good news for those who are planning to settle in this lovely city.

It seems very clear then that apartments Krakow has on offer now might be a great buy especially at this time of crisis as most people know that what crisis is for most is the opportunity for some! As far as the tourist market go the most recent estimates generally for such Polish cities as Krakow or Wroclaw are quite optimistic. According to some tourist official establishments, this year the number of visitors should be growing again. Polish cities might gain this bigger interest mainly due to the situation in currency exchange market.

As the British pound has lost some value against the Euro, those countries that are using the latter currency might definitely create cheaper holiday options compared to those where you have to pay with Euros. It is thought that the holiday sales should not drop that significantly but the change will appear in the choice of destinations in order to save some money. Well, the nearest future will definitely verify those estimates.



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