The Deals in Polish Real Estate

There’s a boom that’s going on in the Polish Real Estate market and while it’s started and is underway, all the experts agree there doesn’t seem to be any end in sight. The Polish economy moving right along with a strong GDP and aside from a strong economy which is more than enough to boost the housing market, there are a number of other factors that help bolster Polish Real Estate.

First off, there has been an exponential growth in foreign investment in the country and that of course is a large factor that drives the housing market. As an offshoot of this expansion (which topped off at 10 billion dollars in 2005), the Polish government has dedicated a large amount of money to working on the infrastructure that includes the nation’s roads and highways. As well, Poland’s geographic location puts the country in an excellent geographic location to benefit from the expanding trade between Europe and Russia.  

As in other parts of the EU, there are some restrictions on buying Real Estate in Poland and these are designed to protect the land from being grabbed up for speculations and the prices getting away from the average citizen’s reach as a result. The Act on the Acquisition of Immoveable Properties by Foreign Persons states that, among other things, a foreign person may buy property in Poland only after getting permission from the proper government regulatory body. However, these regulations are not designed to hinder the purchase of Polish property by anyone from the EU, and those people do not need a permit unless they are buying rural land or another property.

 Buyers thinking about Polish Real Estate need to be aware of the additional costs they will face as well, but these shouldn’t scare any prospects off. Many markets in the EU and in other places are tightly controlled to protect the values of the properties and allow people from various incomes to have an opportunity at owning some Real Estate. And of course one of the fees that you’ll need to factor in is the agency fees, which are not unlike the fees that are paid out to Real Estate agents in most parts of the world.

These monies average out to about 3% of the purchase price. As well there are the lawyers fees that you will need to take into account and the taxes is generally about 2% of the sale price in Poland. Once you’ve got all these requirements straightened out, there’s only the fun part left and that’s deciding where you want to buy in Poland.

And it comes down to sorting through all the things that this country has to offer. For example there are many tourist attractions in the country where a foreign national looking to invest could place their cash—from Dolnoslaskie to the city of Lublin where there is always the need for a student housing every year to suit the influx of college students.  

This article was written by Kenny Gregg, Advertising and Marketing specialist for Virtual Concepts Unlimited, LLC Specializing in Real Estate Home Search http://www.listedineurope.com European Real Estate

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