Buying new buildings in Poland and price I was given

Hi,

I'm thinking about buying an apartment in Poland as a mid/long term investment. I'm looking at Wroclaw.

Is it common to try to negotiate the price of a new build. Also have foreign buyers had any exerperience of being 'overcharged' compared to Polish people buying?

An example of the price I was quoted is as follows:

floor rooms Surface area PRice per M2 Overall Price (5 parts)
First 2 49.80m 7958.75 396345

Does this sound reasonable?
Any feedback appreciated!!THanks

There are various factors that can raise the price.

You seem to have a quote for something near the centre, but not in the centre proper.

You can negotiate the final price through the payment plan you choose.

Thanks for the reply- so you think that price is actually fair?

You save a few thousand ZL for paying all in 1 part although from the risk point of view it os maybe not the best thing to do!!

The development is on Spiżowa street which I believe is only a couple of Kiloemters from Rynek? Do you know this place

No this is very unfair frice, a lot of risk to be honest, better invest your money in Bulgaria or Romania.

dont quite understand you figures mickster but that neither here nor there...

the important thing to realise is that ola doesnt understand anything and should be ignored at all cost

Hi BubbaWoo,

basically the cost for a 49.80 m apartment is 396,345
Per square metre this costs: 7958.75

Sound like a dcent price?!

Im always here to help :D. I suggest you mick abandon this property because it is not attractive price, cheaper you can but in other EE that recently joined EU like Romania......

1.8 km from the town centre.

I think the price is top end. My better half says it's good.

I don't know much about the area so I can't comment on that.

There are others on these boards who can help you. Wait for their reply.

i dont know much about wroclaw prices mickster but i would suggest they are open for negotiation... i would also look at what similar is going for in the neighbourhood, how they have risen, what they are expected to do etc etc... the normal sort of stuff...

Ok Wroclaw - thanks for your help

Cheers. I will be probably be over there in a few weeks so I will do more research before then!

Hi Mickster

I have invested in Wroclaw over the last three years so if you need any advice about location/procedures/developers then let me know.

For a new build in the srodmeisce district the price is standard at this time, however personnally I don't like Grabinszynska street, what about Olbin and that district north of the Rynek? Have you considered a second hand apartment?

You can really get some good deals with apartments in Kamenica that will be an excellent investment especially that you are in this for the mid to long term.

Did you look at the Ogrody Reja development with Moj Dom? Anyway good luck and if you need further information then let me know.

Especially with a new 44% tax :):):)

Hi Sin8,

thanks for your advice on real estate in Wroclaw. I was looking at new builds as I just thought they are less hassle than buying second hand. Especially as I do not speak Polish. Do you agree?

I have a few further questions if you don't mind:
Can you recommend an English speaking Notary? I'd rather use one not recommended by an Estate agent or developer.....

If I was looking at a 2nd hand properties do you know a good english speaking estate agent?

thanks one again!!

mickster,

Don't forget that a new build is not ready to move into. You will have to add fixtures and fittings.

You need the name of a good builder to finish the work.

Yes cheers Wroclaw

I was aware of that already. I would need to supply kitchens, flooring etc.
I assume the gas or electric is already there? How about the bathroom?

Do you know the area Kamenica that Sin8 talks about? Whats it like?

I will be over in a week but I wan to have abit of a plan before I go over. Ideally to check out new properties and some second hand ones. Although i will need a good estate agent to check those properties out and make sure I'd pay a fair price

mickster,

For a good map go to: mapa.szukacz.pl

Miejscowosc: fill in .... Wroclaw. Then press Pokaz. The rest is easy.

You fit the bathroom.

Electric, water, gas stop at the front door.

Read the other property threads before you come.

Thanks - didn't realise it was as much work on a new build - But just to confirm. Does it mean you have to wire the place yourself? I have looked at other threads but wasn't sure.....

As you might have to build internal walls, I would say, yes.

The original builder may complete the build, if you ask. It will simply cost extra.

You have to speak to ''Sin8'' or ''Bubbawoo'' about this. I don't want to lead you down the wrong path.

Thanks!

As I'm a Liverpool fan perhaps you can recommend a pub in Wroclaw to watch the champions league final?!!

We have a club/bar called 'Liverpool'. I don't know if they have a TV though.

Sorry, I can't really answer the question.

No probs - I'm sure I'll find a Irish bar without too much problem!!

The Irish pub is a bit loud when a band is playing. Otherwise it's a nice place. Gets full early.

Cheers - it will be very loud for the match anyway!!

Hi Mickster

Apologies if my first post was confusing.

Firstly Kamneica isn't an area it refers to a prewar town house and I think the apartments within these buildings have a lot of potential and are relatively reasonably priced. The area I was referring to was Olbin or the area north of the Rynek around the Botanic Gardens streets like ul. prusa, ul. reja, also any of the areas around plac grunwaldzki. This is personally my preferred area in wroclaw, as its about 15 mins walk to the rynek close to the new office development in Bema Plaza and also the new shopping center in Plac Grunwaldzki, close to lots of universities so easy to rent out to students and its also close to Park Nowowiejski and also just accross the river you have Park Szczytnicki.

A good site to get an overview of prices for second-hand property is .locumnet.pl this has an english version and you can search for property in Wroclaw another is .trader.pl, its in polish but easy to navigate.

I don't know of an english speaking notary as my husband is polish so we've used a polish one.

Happy hunting...

Great thanks for your help Sin 8

AM I the only person here who thinks that is an outrageous price for 50 sqm in Wroclaw ?

seems that property prices are taking an outragous turn all over the country... some, unable or unwilling to confront uncomfortable truths, are blaming this on overseas investment

That is a so, BubbaWoo, my company is in the process of purchashing blocks of land to the tune of 25m us$ are you interested to invest? (return of 400%)

And the next post shows how right the 'some' are.