Poland Economy

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Poland is one of the largest countries in Central Europe and has a population of around 38 million people. Poland's economy has improved dramatically over the last few years, particularly since they joined the EU in May 2004.

Poland's size, large consumer base and well educated hard working workforce has been a natural draw for foreign companies. Investment has been piling into Poland year on year and has had dramatic effects on the unemployment rate which has been cut in half from around 20%, wages have risen and consumer demand is insatiable.

Membership to the EU has brought both stability and much needed reforms which has led to the liberalisation of the economy and stimulated investment. On top of that many billions of euros have found there way to Poland from EU structural funds.

The economy started from a low base, and is still developing but developing fast. It still has some way to go to reach Western standards however most commentators believe that Poland will continue to outperform that of its Western neighbours for some time to come.

Poland is not just reliant on the capital Warsaw to drive growth, but has huge regional centres (such as Krakow, Wroclaw, Poznan and TriCity) that have economies of their own. Many of these regions have set up special economic zones with attractive tax advantages and local government support teams which has drawn in many large multinational investors.

Not only has Poland got a large population, but much of this population is young 18-35 years. These are the people that will are starting to earn more and more and have aspirations for a new property of their own. The number of households in Poland is excepted to increase dramatically over the coming years.

GDP growth remains strong and taxes have fallen substantially over the last few years and further reductions are planned. This can only continue to help to attract large amounts of FDI to Poland and thus further enhance the country's economy.

Overall it is Poland strong economy and economic potential that will be the main driver to future property price growth. And it is these fundamentals that mean Poland will be a good safe bet as a medium to long term property investment location.