The Guardian has just published a fascinating article about the reprivatization of property in Warsaw. This is the process by which previously nationalized property is returned to pre-communist owners, or their heirs.
Not surprisingly, the government gets a lot of these sorts of claims, though many of them are clearly bogus. Between 2007 and 2017, Warsaw City Hall estimates that 447 properties, representing about 4,479 dwellings units, were reprivatized.
For some, all of this is restitution for widespread expropriation during the communist era. But for others, it quite simply means eviction.
The story at the beginning of the article – about a family who is immediately evicted from their apartment and has their belongings thrown out – seems almost hard to believe. One would think that there would be more sensible transition policies in place.
Another negative has to do with the uncertainty that this creates in the market. Why would you buy and/or invest in a property if there was any inkling that it could be taken away from you? You wouldn’t.
Click here to read, ‘They stole the soul of the city’: how Warsaw’s reprivatisation is causing chaos. If any of you are familiar with the Warsaw property market, please do leave a comment below.