Real Estate / Letting agencies Krakow [11]

I manage a real estate agency in Krakow.
Our website is property-krakow.com (launching our new website in a few weeks)
We can help you find tenants for your apartment in Krakow.
We can also of course find apartments for interested tenants as well.
And yes, we do charge for our services!
Regards,
Andy

Australia / Tourist visa to Australia - Polish passport [16]

I would also think that by putting "self employed" you trigger more investigation. They may think you are more likely to want to overstay the visa if you don't have a specific job to go back to. Hence the requirement for more documents.

Australia / Tourist visa to Australia - Polish passport [16]

from immi.gov.au/visitors/tourist/676/eligibility.htm

Financial requirements
You must have access to sufficient funds to cover all costs for the duration of your stay in Australia, including health insurance if required. You may be asked to provide evidence of your funds.

Examples: personal bank statements, pay slips, audited accounts, taxation records, credit card limit.

Australia / Tourist visa to Australia - Polish passport [16]

I took my girlfriend home to Australia for a holiday earlier this year. She was able to apply online for the tourist visa, and whilst the questionnaire was pretty thorough, she was able to get through the process without any problems. It took about 3-4 weeks to get a positive decision, and there was no need for her to send off her passport or anything, nor to provide evidence of funds in her bank account.

Real Estate / Renting apartments long-term in Krakow, any good sites? [5]

If you can't navigate in Polish on krn.pl, our website has lots of long-term rental offers in Krakow advertised in English, property-krakow.

If we don't have something fitting your criteria, we will be happy to help you it for you

Life / Belgian moving to Krakow, need practical info [38]

We do currently have some 3-bedroom flats at the moment, though in general, large flats are not common in Krakow and hard to find. Also hard to find 3-bedrooms AND a garage.

Please send an email to offfice AT property-krakow.com and we will send you some details.

Life / Belgian moving to Krakow, need practical info [38]


We have a nice flat to rent very close to the IBM office, just a few minutes walk

.property-krakow.

Alternatively, we can find you something else if you get in touch and let us know your criteria

Real Estate / Interest Rates for Home loans In poland [39]

It all depends how long you have owned it for. Unfortunately, I don't know any Polish bank that will re-mortgage if you have owned the property for more than 2 years.

If you have owned it for less than 2 years, the application is pretty similar to any other, apart from the need to get a valuation done - the bank will normally refer you to valuers they accept

Real Estate / mortgages advice - buying an apartment in Warsaw [15]


No offence taken, that's cool

Real Estate / mortgages advice - buying an apartment in Warsaw [15]


Thanks for the compliment PJ, I think....

Real Estate / Interest Rates for Home loans In poland [39]


You are not exactly telling me anything here I don't know! I started this brokerage in Krakow three years ago with a business partner, and have been doing it on a daily basis, together with selling off-plan to foreign investors and managing a local agency, so I am well aware of the difficulty which foreigners have had in obtaining finance in Poland.

Real Estate / mortgages advice - buying an apartment in Warsaw [15]

Karta Pobytu and Zameldowanie are useful, but not necessary to get a mortgage in Poland. More important will be the contract from your work in Warsaw - is it temporary or permanent? And how much you earn of course, and liabilities, etc etc

Life / Polish gliders [10]

The airport in Bielsko Biala (southern Poland) is quite famous for gliding and I think they may even produce gliders in the city.

On a related topic, I was at the picnic at the aircraft musuem in Krakow a few weeks ago. There was some guys there from a website called extremespotting.com. They take these incredible photos of planes flying over Poland at altitude (8km up!).

Real Estate / Interest Rates for Home loans In poland [39]

Kneehawk, you make some valid points, but at the end of the day, it comes down to the personal choice of each investor. I am guessing that you are quite an agressive BTL investor, so fair enough that you would go for CHF and also take 5 years interest only. Other BTL investors will be more risk averse, and so will perhaps elect to take a lower LTV mortgage and also choose a repayment mortgage. I guess those are the kind of investors who we can help the most.

To illustrate the points made by Daniel and myself that the interest rate is only a part of the loan offer to consider, I have had a more detailed look at the Metro Bank offer to make sure I found all the "charges" associated with it.

The offer I have expired on 8th June, though I expect that the current offer is pretty much the same.

The bank says that there is no loan commission. HOWEVER, there are two other charges.

1st: Insurance against adverse movement in the base rate (e.g. LIBOR for CHF or WIBOR for PLN). If there is an increase of more than 200 basis points (2%) in the base rate, then you are insured. It doesn't state how much you are covered for. However, the cost is 1.5% of the loan amount for CHF mortgages and 1.95% of the loan amount for PLN mortgages. It is automatically taken from the loan amount paid out. The insurance looks to be compulsary for CHF loans, and not compulsory for PLN or other loans.

2nd: High LTV insurance. If you want to borrow at more than 75% LTV, then you need to pay 3.785% of the difference between your contribution and the amount above 75% for three years upfront. For example, if you want 90% LTV, then you must pay 3.785% of 15% of the loan amount for three years upfront.

Confusesd?

Here is an example:

Property Value = 400 000 PLN
LTV 90% = 360 000 PLN
(LTV 75% = 300 000 PLN)

The difference above 75% and your contribution = 60 000 PLN.
3.785% of 60 000 = 2271 PLN x 3 years = 6813.
As a percentage of the loan amount, this equals 1.89%.

In addition, there are higher early repayment penalties, starting at 5% of the loan amount in year 1, and falling to 1% by year 5.

Until the bank is registered on the new property deeds (księga wieczysta), the interest rate is increased by 1%. Pretty much all banks in Poland have a similar fee.

News / Solaris - not so new but already famous Polish bus manufacturer [26]

Another successful Polish company is FAKRO from Nowy Sącz, they now supply 17% of the world's roof windows (skylights). Pity about their name though...

Real Estate / Interest Rates for Home loans In poland [39]


Sure, no problem


Yes, that is correct.


Possibly! We don't actually deal with Metro Bank, so I am not 100% sure on the specifics of their offer. Actually, we had a visit in our office recently from a very arrogant man from Metro Bank. He tried to sell us their offer, but fell over when he offered to pay us only 20-30% of the commission that the other banks pay. He was sure we would still want to deal with his bank, because as he pointed out, they would grant loans in cases when all the other banks wouldn't. We didn't agree! My employee had a good look at their loan offer, and from what I remember him saying, there seems to be lots of hidden charges and fees with titles such as 'compulsary insurance'. So with any loan offer, the interest rate is not the only factor to take into account.


Same answer.


No, they would be higher

Real Estate / Interest Rates for Home loans In poland [39]

As a fellow mortgage broker in Poland, I would agree with the comments from Daniel at Rednet - Metro/Noble Bank (and Dom Bank) should really only be considered as banks of last resort - in most cases, foreigners can get much more competitive offers from other banks, such as the ones below.

1st bank offer
80% LTV in GBP/EUR/USD/ over 20 years or 60% LTV in CHF over 20 years
Current interest rates (based on base rate + bank margin)
GBP: 5,82% + 1.75% = 7.57%
EUR 4.95% + 1.75% = 6.7%
USD 2.79% + 1.75% = 4.54%
CHF 2.8% + 1.75% = 4.55%
Loan commission 2% (taken from loan amount) but no repayment penalties.

2nd bank offer
80% LTV over 20 years / 90% LTV over 15 years in PLN only (no foreign currency mortgages).
Current interest rate: 6.81% + 0.65% = 7.46%
No loan commission. Repayment penalty up to 2% of loan value only applies for repayment during first three years.

3rd bank offer
Up to 80% LTV over 20 years in PLN, CHF, EUR, USD.
PLN: 6.65% + 0.9% = 7.55%
CHF: 2.79% + 1.05% = 3.84%
EUR: 4.95% + 1.05% = 6%
USD: 2.78% + 1.05% = 3.83%
No loan commission at present. However, a high LTV insurance payment applies - based on one-off payment of 3% of difference of loan amount above 60% LTV. For example, 60% LTV = 255000 PLN and 80% LTV = 340 000 PLN, the difference being 85000 PLN. The insurance would equal 3% of 85000 PLN = 2550 PLN.

Repayment penalty up to 2% of loan value only applies for repayment during first three years.

In all cases, the bank's interest rate is increased until the time that they bank is registered against the title deeds on the property, which can be 3-6 months after the final purchase contract is signed.

Regarding the documentation requirements, the easiest bank to deal with will be the second, followed by the first and then the third.

poland-mortgage-direct

Real Estate / Advice on best interior fit-out company in Krakow: mamdom or JoshuaMills? [32]


We can help you find tenants and also with property management.

Our real-estate business is called PKG Real Estate, and our is office is 600m from the old town square in Krakow on the corner of ul. Cybulskiego and ul. Garncarska, on the ground floor of the new residential building called "Nowy Swiat".

Our niche is with higher-standard apartments in the centre and close to the centre of Krakow, and we have established good links with international companies in Krakow, and have been helping the expat workers of such companies with apartments to rent.

Many of our clients are foreign, particularly from England and Ireland, and we pride ourselves on offering a Western style service.

Website in English: property-krakow.com (new website being launched shortly).

Our listings in Polish: property.krakow.group.krn.pl

Real Estate / Mortgage prices and rates in Poland [28]

The answer is yes. Whilst it can be a benefit for non-resident mortgage applicants to have Polish citizenship/passport, it is not the most important factor. What matters most is the applicants' financial position - size of salary, liabilities etc.

Real Estate / Advice on best interior fit-out company in Krakow: mamdom or JoshuaMills? [32]

Also Krakow based is Drew Grodzicki, who has a company called Final Fitouts. I know that his clients are happy with his work. I don't think his website is operational, but you can contact him on finalfitouts@gmail.

Real Estate / Mortgage prices and rates in Poland [28]

Well, it depends which currency the mortgage is in....

In Poland, most banks will give you the choice of denominating the mortgage in a range of different currencies, all with different interest rates.

Most mortgages are variable and based on a LIBOR 3mth interbank rate (or EURIBOR, WIBOR for złoty):

Currently, here are the base rates for the different currencies:
PLN 6.57% (Polish zloty)
EUR 4.85% (Euro)
USD 2.68% (US dollars)
GBP 5.86% (British Pounds)
CHF 2.77% (Swiss Francs).

To this, the bank offering the mortgage will add it's margin.
A competitive margin in Poland will be around 1%, an uncompetitive margin will be up to 3-4%.

So the question is, how much is the margin on your mortgage, and that will tell you if you are paying too much...

Real Estate / Market Report - RICS 2008 Poland Housing Review [25]


Don't know of any other monthly reports, but Szybko.pl / Expander issue quite a detailed quarterly report in Polish on the state of the secondary market in Poland, including rental prices as well.

The update for the 1st quarter of 2008 can be found here: szybko.pl/nieruchomosci/raport_nieruchomosci_K1R2008


Sorry, I can't say I agree with you on this point. I was working at a fair in Krakow on the weekend. Not only was it pretty quiet and the buyers very price/location sensitive, but many large developers have well progressed developments in which there are lots of apartments remaining for sale. Regarding Angel Plaza, well that was pretty much sold out 1 year ago, at the peak of the market.

A better example would be 'Garden Residence', a huge new off plan development in Krakow's Zabłocie region. They started marketing the 700 apartments around one year ago. The Greek developer has spent shedloads of money on marketing, and I was told that as of recently they had sold only 56 apartments out of 700. Whilst I can't confirm the veracity of this information, it wouldn't surprise me. Also, I notice from seeing the building site last week that no works have got underway yet...

Travel / Central / Eastern Europe Travel Plans 08 [6]

There is a regular bus service from Vilnius to Gdansk. I took it once, and from memory it was about 6 hours and runs daily. Like the Vilnius-Warsaw bus, it is an overnight one, and so not ideal. They tend to arrive very early in the morning (before 5am), so you almost need accommodation sorted for that night so you can go and crash as soon as you arrive. I also took the Warsaw-Tallinn bus, but never again. It broke down somewhere in Estonia, and all us passengers were just left to fend for ourselvers and find another way to get to Tallinn. You can find bus information on eurolinespolska.pl

I am actually going to Vilnius and Minsk for the May long weekend. This time I am flying from Warsaw to Vilnius. It's not cheap with LOT, but preferable to spending a couple of nights on the bus.

Real Estate / Buying land in Bochnia (near Krakow) in five years... [6]

I had a look on krn.pl

Building plots in Bochnia (in the town itself) look to go for between 50-100 PLN per m2, all dependent on the usual factors of course.

Land in surrounding areas/villages can be even cheaper than that.

Life / Who has moved to Poland in the last year? Swap stories. [115]


Following my first year in Krakow (3.5 years ago!), I wrote an article for a local expat magazine called 'Krakout' (now since defunct) about this topic.

At the time I was an English teacher in Krakow, and I had done a class which I had downloaded from the internet about 'culture shock'.

According to research, there are four stages of culture shock experienced by expats when they move to a foreign country.

The first is positive - you are really excited to be in a new place, everything is exotic and different. You are partying, making new friends etc. It can last anywhere from a few days to a few months.

The second is negative - it's the 'shock' stage. You have the realities of life in a foreign place getting you down. Finding a job, dealing with bureaucracy, language barrier etc.

This phase can last a few months or so. Many will not get over this stage and will return home. Others will get over it by seeking out people from their own culture, finding someone to share your experience and your gripes with life in this foreign place.

The third and fourth phases are for the long term expats, the ones who decide to make this new place their home. The third, I think it was called 'acceptance' and involves you learning the language, settling down, making local friends and generally acclimitising to your new surroundings.

If you stay long enough (5 years +) then you may reach the fourth stage where you develop a dual identity. You essentially become like a local, though it's of course not possible to forego the identity/culture you grew up with.

At any point in time, you may decide to go home. It is at this point (and it depends how long you have been away) that you encounter 're-entry shock'. You have been changed by your experience, grown as a person. The only problem is that your friends and family at home haven't changed. They are more interested in what is happening in their own life and don't particularly care for your stories and experiences.

If anyone is interested, I will track down the original article and post it here when I get the chance.

Travel / Snowboarding in Poland [75]

There is a pretty good slope at Myślenice, which is only about 30 minutes south of Krakow, on the way to Zakopane. I have only been there in the summer, but the slope seemed to be pretty steep and challenging, with good infrastructure. My friends have been going there regularly from Krakow this winter. If you don't have a car, there are regular buses from Krakow.

Travel / Ticket controllers in public transportation vehicles in Poland [24]

I've been living in Krakow for more than 4 years, and in the past I have been caught ticketless by the controllers a couple of times. It's not a pleasant experience. These guys (and they are always men) often resemble football hooligans, and will not stop at physically restraining someone who doesn't have a ticket and wants to bolt. Once I got away with paying nothing - didn't speak Polish and refused to accompany them to the bankomat. Another time I paid a bribe of 20 złoty which they accepted. But that was a long time ago and now I don't really see there is an excuse for not having a ticket. New ticket vending machines (funded by the EU) have popped up all over the city, and you can choose an English menu to buy your ticket. Plus there is the new 'Krakowska Karta Miejska' and you can buy monthly tickets at the machines without having to spend ages in a long queue at the office. Anything is better than that sinking feeling when you are ticketless in the tram and the controllers strike!

Law / Today's Zloty - 1.00 GBP = 5.25471 PLN [29]

Live rates at 2008.01.29 11:09:30 UTC
1.00 GBP = 4.86459 PLN
United Kingdom Pounds Poland Zlotych
1 GBP = 4.86459 PLN 1 PLN = 0.205567 GBP

from xe.com/ucc