Overview of Polish real-estate
Poland is the only country that successfully avoided the recession during the global economic crisis. Its economy is considered to be one of the healthiest amongst the post-Communist countries.
With a steady economic growth, Poland remains an attractive destination for foreign investment.
Real-estate purchase in Poland comes naturally to those who wish to establish a company in Poland. However, because urban areas in Poland are growing rapidly and the demand for housing increases, foreign investors may desire to invest directly in Polish real-estate.
Real-estate price tendency
Real-estate prices in Poland were influenced by the global economic crisis. Though experiencing a rapid growth from 2002 to 2008, house prices began to drop afterwards and this tendency is expected to continue.
As Poland’s real estate market begins to improve and the economy begins to recover, demand for property is also rising. Real estate investments in Poland may represent excellent business opportunities in the upcoming years.
During 2013, the average price of an apartment in Warsaw, the Polish capital, dropped. Other Polish cities such as Gdańsk, Cracow and Poznań also experienced a house price fall. Residential construction remains weak and Poland is experiencing a shortage of housing units.
However, the demand for real-estate is slowly rising. In early 2013, residential property transactions rose and the total volume of housing loans also experienced an increase.
Why invest in Polish real-estate?
Poland is not expensive in comparison to other European countries, however in the near future residential prices may be rising again in Warsaw. Apartments in the old part of the Polish capital remain inexpensive when compared to the soughtern districts of other major European capitals and cities.
Citizens of the European Economic Area can buy apartments and land in Poland. However, a special permit is needed to buy land for housing that will not be a place of permanent residence for the owner. Non EEA citizens also need permits to buy any type of land in Poland.
Foreigners can lease land or real estate and, moreover, property negotiation is done openly in Poland. Perhaps the most important reason to invest in Poland is the country’s increasing promising potential.