Property in Poland

Property in Poland

Post-communism Poland has emerged as one of the most important and strategic countries in Europe. The Iron Curtain era had the most profound and damaging impact on the country. After bearing the brunt of World War II, Poland was in the grips of Communist regime that hardly did anything for the development of the country. However, after the ouster of Communism in the country through elections in 1989, Poland climbed the development chart at a rapid pace. Resultantly, the economy grew by leaps and bounds through sustained efforts of successive governments at promoting tourism and aggressively inviting foreign investment within the country. Presently, Poland offers magnificent incentives for the global real estate investors and the property buyers are slowly converging on this Central European destination to reap rich dividends.

Real Estate in Poland

Poland is situated on the brink of the developing Eastern and developed Western Europe. Perhaps, its geographical location had much to do with the destruction it witnessed in the Hitler-led World War II. With Germany as its neighbor, now the country stands to gain from its economic and technological might, unlike in the past when Poland had to pay a heavy price with German dictator Hitler at the forefront of the country’s destruction. After seeing the end of Communism from the country, Poland has emerged as a vital European Union member that is developing at a fast pace. The government has realized the country’s tremendous tourism potential that lies dormant in its National Parks, Natural Reserves, old cities reminding the World War era, Carpathian Mountains, Baltic Coast, and the hilly post-glacial Lake District. The country has a unique rustic charm with medieval castles, caves, limestone areas of Kraków-Wielun Upland, and legendary folklore that are testimonies to the rich cultural and traditional heritage of the country. Theatre, music and opera are integral components of Polish life. Lodz, a former textile city, is famous for its film school that boasts of the legendary Roman Polanski as its alumni.

The Communist regime cared little about the welfare of the people and unemployment was rampant in Poland. But things have changed considerably, and both unemployment rate and inflation index are under check. Nation’s economy is on the upswing and so is the real estate market with investors from all over showing tremendous interest in Polish property. Actually, the real shot-in-the-arm for the Polish Administration was the accession to the EU in 2004, which, literally, opened the floodgates for development in the country. The restrictive laws are being made liberal and the fruits of globalization have been realized and shared with greater conviction now than ever before. Poland attracts investors largely due to its huge market catering to 40 million consumers, and the country’s strategic location of proximity to the Eastern and Western Continent. The neighboring Germany is playing a crucial role in developing the country’s economy by constantly increasing trade with Poland. And all this has a positive impact on the real estate market in Poland.

Investment Property in Poland

The Polish cities are developing pretty rapidly, and as with all national capitals, Warsaw is the centre of all important events and happenings in the country. You can find plenty of apartments and independent dwellings for sale in the Capital city. Of course, you have to spend a considerable sum of money for owning a Polish property in the capital city. But even this amount is pretty minuscule considering the property prices in some of the other capital cities. For instance, apartments at Ostoja Willanow in Warsaw can be yours for a little over £40K. Cities like Krakow, Warsaw, Poznan, Gliwce, Lodz, are also witnessing a huge surge in real estate development and are now considered as the premier destinations in Poland. At Krakow, the prices of apartments start from £22K. The new constructions at Wroclaw offer apartments from £65K onwards. And Gliwce has apartments starting from £60K.

Undoubtedly, holiday property nearer to the tourist areas commands a higher price and also offers handsome year-round regular rental income. Moreover, there’s tremendous demand from the second home seekers due to the changed geo-political equations in the region. The country is also witnessing tremendous demand for investment real estate, particularly for office buildings, apartment complexes and other residential developments. Foreign investment in the country is on the upsurge and the government is expected to further promote the investment climate in the country by relaxing and formulating liberal property laws in the country. Already for the properties sold after 5 years or monies re-invested into property, there’s no capital gains tax in the country. Also, there is no VAT applied against the properties over 5 years old.

The procedure for buying and registration of properties for EU and European Economic Area (EEA) citizens is fairly simple. However, others are encouraged to hire a local lawyer or an expert real estate agent to guide through the entire process up to the registration of property stage.

Property for sale in Poland
Search for properties for sale in Poland direct from agents,developers and private sellers worldwide.