| Overview | | | | foreign nationals have been able to generate a |
| Being one of the first countries in the Soviet bloc | | | | good income through the years through this type |
| to toss off the Communist yolk, Poland was well | | | | of apartment investment. |
| on the road to a more liberal economy with more | | | | Holiday Property in Poland back to top |
| participation by foreign nationals than other | | | | For the first decade in which Poland was |
| Eastern European nations were when the Iron | | | | independent of the Soviet bloc, tourism into the |
| Curtain fully collapsed. Foreign nationals have been | | | | country was not a booming business. However, as |
| investing in many segments of the Polish | | | | time has gone forward, more and more foreign |
| economy, including purchasing real estate of | | | | nationals are making Poland a holiday destination. |
| different types in the country. | | | | As a consequence, more foreign nationals each |
| Many foreign nationals have realized significant | | | | year have purchased holiday or vacation |
| profits through the years by investing in real | | | | properties -- primarily in the form of apartments, |
| estate in Poland. Indeed, the buying and selling of | | | | but a growing number of free standing residences |
| real estate in Poland over the course of the past | | | | as well. Most real estate industry analysts predict |
| two decades has been brisk. Most industry | | | | that the number of foreign nationals who choose |
| experts who are watching the real estate market | | | | to purchase second home or holiday property in |
| in the Polish Republic now believe that the buying | | | | Poland will increase over the course of the coming |
| and selling of real estate in Poland by foreign | | | | decade. |
| nationals will increase even more over the course | | | | Most of these experts anticipate that the biggest |
| of the coming decade. This will include activity by | | | | thrust will be in the purchase of apartments in |
| foreign nationals in the commercial, industrial and | | | | resort communities in Poland. The experts |
| residential real estate markets in Poland | | | | maintain that these foreign nationals generally will |
| Investment Property in Poland back to top | | | | be from European Union nations. There has been |
| As just mentioned, foreign nationals have been | | | | an increase in foreign nationals from non-EU |
| very active in the Polish real estate market for | | | | countries who also have found themselves |
| the past two decades. One area in which foreign | | | | attracted to resort real estate in Poland at this |
| nationals have been fairly heavily involved is in | | | | point in time . |
| investment real estate. | | | | Mortgage Options back to top |
| Since the Communist government in Poland was | | | | When considering the options for a mortgage on |
| ousted, the government of Poland has been | | | | your overseas property there are a couple of |
| active in its efforts to bring foreign investment | | | | choices to consider; |
| into that country. As a consequence, the | | | | Do you consider raising finance on your existing |
| government has encouraged foreign nationals to | | | | property in the UK to cover the whole cost of |
| put their money into everything from commercial | | | | your purchase abroad? A good idea if the interest |
| real estate enterprises such as office buildings, | | | | rate in the country in question is a lot higher than |
| apartment complexes and other residential | | | | it is here in the UK as you will pay a lot less in |
| developments and even in the construction of | | | | monthly repayments. |
| industrial properties in some of the major urban | | | | Do you secure a mortgage against the property |
| centers in the country. The trend towards the | | | | from a local bank in the country of purchase? |
| involvement of foreign nationals in the Polish | | | | This can be a wise option especially if the interest |
| investment real estate market is expected to | | | | rate is lower than our current UK interest rate. |
| continue onward unabated according to analysts | | | | Most overseas mortgage / bank lenders will |
| considering the economy and real estate market | | | | require upto 30% deposit on mortgages. |
| in Poland. | | | | However, you will need to give some thought to |
| Residential Real Estate in Poland - Single Family | | | | how you will service your mortgage payments |
| Properties back to top | | | | each month especially if you are not living or |
| Trade by foreign nationals in single family | | | | earning in that country as you may well lose out |
| residential dwellings has been somewhat limited in | | | | on exchanging money each time to cover |
| the past couple of decades. While foreign nationals | | | | monthly expenses. Check out our Foreign |
| have been found buying single family dwellings in | | | | Currency page to see how you can save money |
| Poland, the demand by foreign nationals for single | | | | in this example |
| family dwellings has not been the most active | | | | Some Builders and developers may well offer |
| part of the real estate market as far as | | | | their own mortgage facilities on their properties |
| foreigners are concerned. | | | | for sale. This can be beneficial to both parties |
| With that said, there have been some foreign | | | | depending on the logistics of the mortgage or loan |
| nationals who have family roots in Poland who | | | | facility. Always check and compare with the two |
| have taken to buying a second residence within | | | | options above before making your final descision. |
| the country. Many of these people are men and | | | | For more details on Mortgages in Poland visit our |
| women who had parents or grandparents driven | | | | Mortgage page in the Poland section. |
| from the country during the Second World War | | | | Specific steps to buying real estate property in |
| or during the period of time that Poland was part | | | | Poland back to top |
| and parcel of the Soviet bloc. | | | | A foreign national is permitted to purchase and |
| There are many interesting and historic residential | | | | own real estate in Poland. With that said, a foreign |
| properties in some of the smaller and more rural | | | | national must obtain the permission of the Ministry |
| communities in Poland. Some foreign nationals | | | | of Home Affairs of the Republic of Poland in |
| have taken to purchasing these properties. These | | | | advance of purchasing real estate in that country. |
| residences do provide solid retreats from the | | | | The application process before the Ministry of |
| workaday world and have been sought after by | | | | Home Affairs is not a particularly complicated |
| more well heeled foreign nationals who enjoy the | | | | process. Indeed, there are lawyers in the country |
| challenge of renovating and remodeling real estate. | | | | that specialize specifically in this application process |
| Some people from foreign countries have taken | | | | due to the growing number of foreign nationals |
| to buying these larger residences in rural locales | | | | who are buying real estate in Poland. |
| and have turned them into inns which are being | | | | A company in Poland that has over 50% foreign |
| visited by foreign nationals on holiday. These | | | | ownership must also obtain permission from the |
| types of inns are sprouting up across the country | | | | Ministry of Home Affairs before that company |
| and are attracting more tourists into the country | | | | can purchase real estate in Poland. Again, the |
| each and every year. In addition, this type of real | | | | application process for a company is not |
| estate investment has proven to be very | | | | particularly complicated. |
| profitable for foreign nationals . | | | | There are some restrictions geographically as to |
| Residential Real Estate in Poland - Apartments | | | | where a foreign national actually can purchase real |
| back to top | | | | estate in Poland. The Polish government restricts |
| The residential real estate market in Poland, when | | | | the ownership of real estate on the so-called |
| it comes to apartments and foreign nationals, has | | | | Polish frontier. It is important for a foreign national |
| done brisk business in the past twenty years. | | | | to make certain that the locale in which he or she |
| Foreign nationals have been found snatching up | | | | intends to purchase real estate in Poland is not |
| apartments -- primarily in Polish urban centers and | | | | within one or another of these restricted zones. |
| resort venues -- for three primary reasons. | | | | Approval from the Ministry of Home Affairs to |
| First of all, with the Communists out and a more | | | | purchase real estate in Poland generally is good |
| open, democratic government in place, many | | | | for a period of six months. A person can apply |
| foreign nationals have come to Poland to do | | | | for an extension when the initial period expires. |
| business. Many of these foreign nationals have | | | | Once permission to purchase real estate is |
| found themselves within Poland on business for an | | | | obtained from the Ministry, a buyer of real estate |
| extended period of time -- and have found | | | | makes an offer to a seller, which will then be |
| themselves making repeated visits into the | | | | memorialized in a preliminary contract or |
| Republic of Poland. In this regard, these business | | | | agreement for sale. |
| people have found it economical to invest in an | | | | Following the signing of this initial contract, the |
| apartment for their personal residence for the | | | | buyer is given a specified period of time to obtain |
| time they are present in the country on business. | | | | financing. Additionally, the seller is obliged to make |
| Second, a notable number of men and women | | | | certain that the title to the real estate is clear and |
| from foreign countries have purchased | | | | capable to being conveyed to the buyer during |
| apartments in Polish resort communities. While the | | | | this time period. |
| drive to purchase vacation or holiday property | | | | In most instances, the buyer is required to post a |
| has been a bit slow in Poland -- which will be | | | | deposit at the time this initial agreement is |
| discussed a bit more shortly -- there are a | | | | executed between the parties. More often than |
| growing number of people from foreign nations | | | | not, the deposit is in the amount of 10 to 15%. |
| who have taken to purchasing an apartment in | | | | The real estate purchasing process comes to an |
| Poland for holiday or second home purposes. | | | | end when the parties execute the final agreement |
| Finally, there are foreign nationals who have | | | | for sale and conveyance of the real estate. A |
| purchased apartments in Poland to be leased or | | | | new title is prepared, placing the real estate in the |
| rented to other people, primarily other foreign | | | | name of the buyer. The title is then filed with the |
| nationals. These people, these foreign nationals | | | | government. |
| who have purchased apartments for investment | | | | Once again, a foreign national does need to keep |
| purposes, have done so to serve both people | | | | in mind that prior permission of the Ministry of |
| coming to Poland on holiday and people coming to | | | | Home Affairs is required before a foreign national |
| Poland on business. By leasing apartments to | | | | can purchase real estate in that country. |
| business and holiday visitors, these particular | | | | |