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Your Guide to Real Estate in Poland |
Why buy in eastern europe full story...
Why Poland full story...
Ryanair liberates Poland full story...
Amendment to the Act of acquisition of real estate full story...
Is Poland going to be invaded by land-hungry Westerners? full story...
Property boom or hot-air bubble? full story...
Poland is an ancient nation that was conceived near the middle of the 10th century. Its golden age occurred in the 16th century. During the following century, the strengthening of the gentry and internal disorders weakened the nation. In a series of agreements between 1772 and 1795, Russia, Prussia, and Austria partitioned Poland amongst themselves. Poland regained its independence in 1918 only to be overrun by Germany and the Soviet Union in World War II. It became a Soviet satellite state following the war, but its government was comparatively tolerant and progressive. Labour turmoil in 1980 led to the formation of the independent trade union "Solidarity" that over time became a political force and by 1990 had swept parliamentary elections and the presidency. A program during the early 1990s enabled the country to transform its economy into one of the most robust in Central Europe, but Poland currently suffers low GDP growth and high unemployment. The country consists of 17 distinct regions. Poland joined NATO in 1999 and the European Union in 2004.
The Seventeen Regions which make up the real estate map of Poland are, Zachodniopomorskie, Region Srodkowo-Pomorskie, Lubuskie, Dolnoslaskie, Wielkopolskie, Kujawsko-Pomorskie, Pomorskie, Warminsko-Mazurskie, Podlaskie, Mazowieckie, Lódzkie, Opolskie, Slaskie, Malopolskie, Swietokrzyskie, Lubelskie, Podkarpackie.
On 1 May 2004, the general rule is that a permit is required for purchase by foreigners of real estate by nationals and entrepreneurs residing or established in the European Economic Area (EEA).
However, the Act allows EEA nationals and entrepreneurs to obtain a permit in the following cases:
However, EEA foreigners will not be required to obtain a permit during the transitory periods if the purchaser has legally and continuously resided in Poland for at least four years, or for the purpose of pursuing business activities in the form of tourist services. See "Why Poland" full story...
AVERAGE HOUSE SALE PRICES
Hotspot |
2-bed |
3-bed |
4-bed |
5/6-bed |
Warsaw |
Zt 487,030 (£76K) |
Zt 855,405 (£133K) |
Zt 1,412,620 (£220K) |
Zt 3, 274,710 (£510K) |
Gdansk |
Zt 308,208 (£48K) |
Zt 526.522 (£82K) |
Zt 683,943 (£107K) |
Zt 1,044,825 (£163K) |
Krakow |
Zt 354,400 (£55K) |
Zt 595,520 (£93K) |
Zt 649,130 (£101K) |
Zt 1,560,000 (£243K) |
Zakopane |
Zt 403,525 (£63K) |
Zt 23,000 (£82K) |
Zt 929,055 (£145K) |
Zt 2,118,930 (£330K) |
The prices shown above are for the more fashionable areas, there are tremendous investements to be had in the developing areas.
POLAND IS BECOMING AN INCREASINGLY ATTRACTIVE INVESTMENT
For many overseas buyers and with its accession to the European Union, much of the red tape that used to surround the conveyancing process has been removed. Foreign investment has pushed prices up in recent years, especially since the property boom in 2000, but there is still a lot of attractively-priced property on the market and you can still pick up a bargain. There are no restrictions for people from EU countries buying property in Poland, although if you wish to purchase land you will need to secure a permit from the Ministry of Internal Affairs - but this can be achieved with the minimum of fuss.