Buying In PolandProperty in Poland is attracting Irish investors and young Poles living in Ireland. Fiona Tyrrellgoes to a Polish property exhibition in Dublin

They may be commited to working here but many Polish people are keen to invest their hard-earned euro back in the homeland.

Close to 1,000 Polish emigrants attended a property fair in Dublin last weekend which showcased investment properties in leading Polish cities. Nearly 40 housing developments were on offer at the event in the Gresham Hotel ranging from apartments and detached family homes to allotments.

All properties were presented in English and Polish and the exhibition was also attended by around 100 potential investors from Ireland.

The exhibition was organised by Murator Expo a Polish trade fair organiser. The fair aimed to showcase property to the growing number of Poles living in Ireland who are interested in buying property back home in Poland.

Some 90 per cent of Polish emigrants to Ireland are aged 35 or under and many are looking to buy property in Poland, according to Jacek Oryl, from Murator Expo.

Many are looking to buy investment properties to take advantage of the phenomenal property price growth in the country in the last three years, he says. Others are interested in buying properties that they plan to move into on their return in a couple of years. But he says that if they start to buy property in Ireland they will probably stay here.

The fair is the first of a series of exhibitions which will take place across the EU. Murator expects to hold the fair on a bi-annual basis in Ireland.

Among those attending were Anna (26) and Jakub (25)*, who were checking out investment opportunities. The couple,who have been in Ireland for three years, are interested in buying an apartment. Rental income is not a big concern; they are interested in taking advantage of capital appreciation, they said.

Mariusz (25) and Ewa (21)* were on the lookout for somewhere to move back to when they make the decision to go home. The couple has already bought two apartments off plans.

The plan is to sell one and use the proceeds to buy a house. The apartments cost €100,000 each and have increased in value by 50 per cent, according to Mariusz.

"Most Polish people I know in Ireland have already invested in property in Poland," he says.

Also at the event was Emilia Marchelewska, editor of Vaveeva.com, an Irish website which gives advice on living and working in Ireland. Many Polish people come to Ireland with the sole aim of earning enough money to buy property at home, she says.

Property prices in Poland have experienced huge growth in the last three years. Apartments in major cities such as Warsaw have experienced growth of up to 50 per cent in a year, according to Marek Skoczylas from JW Construction, a leading property development firm in Poland which attended the exhibition.

The market has stabilised and growth in the region of 10 per cent per annum is predicted going forward, he said.

Typically Polish buyers are buying with a view to moving back home in a few years.

Meanwhile, Irish buyers are the biggest foreign investors in Poland at the moment.

The big attraction for Irish investors is the price - the average apartment in Warsaw is €115,000 - and the growth rates, according to Skoczylas.

The market is changing, he says. Two years ago investors were buying off plans and flipping the property on before completion.

The days of holding onto a property for just six months and getting 30-40 per cent growth have gone and now they are looking at a medium-term investment of five to 10 years and renting, he says. Rents are also on the rise in Poland. Average rents in Warsaw are €600 to €700 a month. For investors, the three main areas of interest are still Warsaw, Kracków and the tri-cities of Gdansk, Sopot and Gdynia.

* The prospective buyers interviewed for this article preferred not to use their second names.