Tri-City Property Market Overview

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The Tri-City area (made of up the cities Gdansk, Gydnia and Sopot) has showed remarkably similar property price trends as Poznan. Growth, which started at modest levels in 2004, picked up between 2005/2006 before accelerating more rapidly in 2007.

Growth in 2008 was negative and in 2009 we see little room for significant property price growth.

The Tri-City area has two main pillars to its economic base.

First is the port. Huge volumes of trade, particularly from Central Europe and Scandinavia passes through the port area and the money made from this trade benefits the local economy enormously.

The second is Tourism. The beaches of the north of Poland are a huge draw for people (particularly from Warsaw) at the weekends in the summer. Tourism money helps support local businesses and buying of second homes helps to increase property prices. In fact, Sopot is one of the most expensive places in Poland due to its chic appeal with city dwellers as a holiday home destination.

Infrastructure is being upgraded in the Tri-City area, with a planned new rail link to Warsaw a new highway heading south to Lodz as well as a host of projects planned for the Euro 2012 football championships (in Gdansk).

Although there is a little room for further property price growth in Tri-City its port and geographic position can only help to secure its economic future and thus sustainable property price for long term property investors.