Residential property prices everywhere in Western Europe are at peak level. Even the coronavirus pandemic has done little to change that — prices kept climbing throughout the past year. In Germany, for instance, prices of existing apartments have gone up by 11.8 percent year-on-year during the first quarter of 2021, according to the Empirica research institute. Value AG actually measured an increase by 15.4 percent for the same period of time.

Conversely, price growth has prompted a decline in property yield rates. According to the Catella European Residential Market Map, yields in all classic destinations of Western Europe are either hardening or flatlining. By the end of 2020, prime yields stood at 1.5 percent in Stockholm, 1.6 percent in Zurich, 2.4 percent in Berlin, 2.8 percent in Paris, 3.2 percent in Amsterdam, and 3.0 percent in Luxembourg.

A fascinating alternative that has been more or less overlooked so far is the residential property market in Poland. Pri