Apartment purchase in Poland

sounds as tho things are moving forward for you Frank... good luck!

Jasiu...thanx for that , but am a "newbie" in the Polish property market.....am just ready to test the waters now...!!..regards, Frank

PS Keep us all informed of your dealings though!

This all procedure is not much different than in Uk.
Maybe difference is that in UK mainly lawyer does some jobs for you.

But I still think taht in UK they r....p off people more with charges, fees.....than in Poland. So good luck.

At the moment it appears the process is a bit more complex in Poland, but will find out soon enough!

it is as you have to do more on your own. But it give you some satisfaction in the end.

Im looking for an apartment with two bedrooms, living room litchen and bathroom near the centre of Rybnik. How much do you think that would cost?

I would guess -- about $US 100K (?) for a 70 m2 apartment.

it depends how big- 2 bedroom could be also about 50m2

Brian, there are a few web addresses on a few of the posts, go back a few pages and do a search....good luck!


PS Wroclaw.......can you e-mail me?

Something around 50m2 ?

I found on : ibon.pl/szukaj_ofert.php?id=1

52m2, Rybnik centre , second floor- 66 thousand pln. This is about £11-£12K

So cheap comparing to Krakow!!!!!!!!

I will have to pay for 40m2 1 bedroom about £40 K.

This rule of paying 19% on profit when you sale, has certain feature to it. When you sell and buy another property you don't have to pay the 19% tax on profit.

when you register a property as your permanent address for 1 year you dont pay tax on your resale profit either

Please see this link for numerous real estate offices across the country......

euroinformator.pl/katalog_firm/eng/075-1.html

I have spent the last four days in Wroclaw looking at all the new developments in Wroclaw. Price jumps seem to be almost 10% per month in last 12 months but there is more supply of apartments coming on now. Average cost of apartment for buy-to-let investor in Wroclaw is basic 6,500 PLN per m2 and up to 10,000 pln per m2 for the best development. Not so mnay 40 m2 units available; mostly typically 55 m2 - 65m2. I now am familiar with many of the new developments in Wroclaw so if anyone wants info, just ask ...

Prices in Krakow are similar. But there is big shortage of flats there. People already buy for 2009.

Propman,

I spent some time in Wroclaw a few weeks ago and found similar to your post.

Have you found a decent loacl agent or are you using uk based?

Which developments took your fancy?

Wert, please contact me re your Wroclaw request.

Secondly, please see the listing of costs associated with buying an apartment valued at 330000....given to me by and estate agent;

1. general tax - 6 600,00 zl
2. notary fee - 2 360,00 z³
3. notary fee VAT - 519,20 zl
4. court fee - 200 zl
5. other fees - 200 zl
6. agency's commision - 8 250,00 zl
7. agency's comission VAT - 1 815.00 zl

Approximate additional costs counted all together - 19 944.20 zl

Again...if anyone else cares to clarify or comment on these costs feel free to post.....thanks!

MY guide for costs
Please note these costs are approximate and will vary depending on the exchange rate and the area in which you buy or the solicitor/agent that you use.
Agency Fees are charged to both the seller and the buyer. As a buyer you will usually pay about 3 percent of the purchase price
Solicitor Fees - about 150 pounds or 1 percent on transactions over 9,000 pounds. You will also need to pay VAT (22 percent) on these fees.
Taxes - 5 percent of the sale price (2 percent if buying a 'shared ownership property')
Court Fee - for registering the property in your name. 2 percent of the sale price.
Resale Tax - Be aware that there is a 10 percent tax on a property that is resold within five years unless the proceeds are invested in another Polish property

Buying to Let - The landlord is expected to pay for common costs (maintenance, security, etc.), insurance, the management agents fee and local property taxes. Rent collected must be declared as income and is liable for income tax although the percentage can be reduced by purchasing the property as a company.

I hope this helps.

If anyone is buying in Wroclaw I can try to help with all aspects. Please contact me with your requirements. This includes everything from sourcing properties to arranging for a Notary. I must admit most of my experience is out of town closer to the Czech border (Jelenia Gora).

Does anyone know how much local property tax is in Wroclaw? per sq m per year?

So far, my friend has managed to arrange an appointment with an English speking estate agent, but he also has the chance to buy a 2 bed flat in Olsztyn, for a bit more than his budget will stretch to. if he does go for this how should he proceed? Where does he find an English speaking notary? How much do they charge? Is it possible to find an agent to manage the property/collect rent?
Any info would be great?

Ela, I don't know where Oslsztyn is or id near a big town, but I have no doubt if you are using an agent , if you need an English speaking notary and its a requirement to make the sale then your agent will do their utmost to accommodate you...as least I hope they would!

However if you see my costs list above, you'll note that neraly half of the cost of buying is paying an estate agent!!!

So if you can save on this aspect then you have quite a bit to play with, hopefully one or two of the other contributors will post on this thread too........but let us all know how you progress?...ok?

Frank

Thanks Frank. Any idea what a notary is in Polish, so maybe i can try and find one now for my friend so he can maybe meet up with them while he is in Poland.

pkt.pl

So when you find the word search for it on this site....use the top right hand box...or ask guys on the board how to find numbers via this site...then phone around...or keep asking for recommendations.

interesting thread ... i fully enjoyed reading every comment im hoping to buy beginning of next year a 2 bedroomed property house or flat in poland not wanting major city areas but close by if anyone can recommend or give me links to browse be fab!

i have estimated i will have upto 230,000zl for a property but this will include furniture and that costs too as i wont be bringing anything from the UK except my personal belongings ie clothes .. books ... pc ... music collection

but thanks on the interesting read and helpful guides people i appreciate it.

just need to concentrate on the job side now

This was one of the best threads i have read, no arguements this time, just great questions and answers, Hope all goes well for you Frank. My wife and I have just purchased some land in Wroclaw, and have renovated our flat, the pricing does depend where you live and which side of the city. I think with Wroclaw, a lot depends of the roads and access out of the city, for pricing i mean. I think you are correct in your last thread about all the extra taxes and charges, i'm sure that was similar to what we payed, a little less on the agent, but thats always nego. Any questions please ask away if i can be of any help to anyone.

David, thats great to hear, hope it wasn't too difficult.......if you can perhaps read my first post on the thread...and maybe just do a line or two per point, of your top tips/feelings as to how you got through the whole process, it would be great........or any other info you think might be of interest.....

Good luck and enjoy!

230Kzl will unforunately get you alot less now than 6 months ago but if you are flexible about where you buy then you wont have any probs picking something up for this price

heres a coule of links to give you an idea

homer-nieruchomosci.pl/index1.php3

this one is in bydgoszcz which hasnt boomed as much as some other larger cities - direct flight to the uk and only 40ks to torun

partnerzy.gda.pl

this one is the pomorskie region including the tricity, kaszuby, the costal towns and places like miastko and bytow where propery is still really cheap

you can also check out yellowpages.pl and just type nieruchomosci and the region you want to look in

REMEMBER - if you buy thru an agent then your costs can increase substantially... look at the pricings above...

Thank you for your post Jasiu i am flexible on where i would like to buy
I have been looking at areas like Nowy Sacz and Wroclaw so far ... but i will certainly have a look at the links you provided for me

Hi telfonitika,

i think you should be able to buy an apartment in Wroclaw for around the 230zl mark, it all depends how far out of the city you want.