/ Advice on what Polish city to invest in....
Hi NickShorten, If you are interested in buying in these cities especially Warsaw and Krakow, both lovely in their own different way, then off plan is a great idea.
While you wait for the property to be built, it is growing in value and that makes it a fantastic investment.
The best bit is that some of the developers only need 10% or 15% deposit and NOTHING else to pay until completion which can take an average of 18-24 months. Then if you decide to keep it and NOT resell or flip the contract, you can easily get an overseas residents mortgage of 85% Loan to value.
You really can't go wrong. You should also talk to the guys at DKM ( Davidoff Kleeberg & Maresch) they seem to be the one agent dealing with Brits and Poles who really know what they are doing. They also have a lot of 10% deposit deals which can really be a best buy.
Hi Nick & Anna and Polanglik,
The statement you make about the Polish capital gains tax is competely WRONG
Whilst from 2007 the CGT on resales is 19% for Poles with national ID and or living in Poland they can resell after ONE year and pay NO CGT.
For overseas Buyers - they can STILL have a ZERO CGT if they own the property for 5 years or more.
Where your information comes from I don;t know but the above is the correct TAX position now!