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]

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]


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 / 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 / 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

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]

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.

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 / 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

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]


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

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


No offence taken, that's cool

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

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

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.

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

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.

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 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.

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

Real Estate / Land Around Krakow, Poland - how to find it? [22]

If you have Polish citizenship, then you can buy any land you want, no problem!
The best place to look for plots around Krakow is krn.pl - Polish only portal. There are lots to choose from!

Alternatively, you can PM me as I work in an agency in Krakow and we also use several other databases (POP for private offers, MLS for agency offers) - let me know the size of the plot you want to buy, areas of interest, budget etc and we will see what we can find.

As for non-Poles, well the basic story at the moment if you want to buy land is that you will probably need to apply for a permit from the government. If you want to do this, definitely consult a Polish lawyer to get some help.

All the definitive information is here:
paiz.gov.pl/index/?id=55603a5f239e435c642244be3e891b85

On the same site, you can also download an English translation of the property ownership related laws of Poland with regards to foreigners:

paiz.gov.pl/files/?id_plik=7117

In terms of foreigners, you will need to get a permit from the government in the following cases:
1)To purchase agricultural and forest land - for 12 years after Poland became a member of the EU (i.e. until 2 May 2016),
2)To purchase a second home (i.e. the real estate which is intended to be developed for residential or recreational purposes and which will not be used by a foreigner as the habitual residence) - for five years after Poland became a member of the EU (i.e. until 1 May 2009).

So, basically, 8 months from now, it will get a lot easier for foreigners from EU countries to buy building land for single family homes or development.

Real Estate / Land Around Krakow, Poland - how to find it? [22]

Sorry, but I think that's a pretty unfair generalisation.
The fact is that most people, unless they have lots of spare time, or get lucky in finding the right offer/buyer privately, will use the services of an agent. This applies to pretty much anywhere in the world. And in Krakow, just like pretty much anywhere in the world, you will find good agents, bad agents and ones in between.

I think you will find that the bad agents in Krakow, the ones who in the past have done little or no work and charged high commissions, are the ones which are now going to go out of business given the slower market. From my experience in dealing with foreign clients, I know the huge amount of work which goes into helping such people, and I believe that the fees charged are reasonable. However, I too have had experience of greedy agents who I have had to co-operate with in the past demanding big fees for doing absolutely nothing.

Real Estate / Advice about rent settlement with landlord???? [6]

Yes, this is possible in Poland.
We have used such an agreement with our clients in Krakow who are medical students from Norway. They study for the period from Oct 1st - June 30th, and then go home for the months of July, August, September.

The normal agreement here in Krakow is that if the student wants to stay on for the next academic year, then they pay the landlord half the monthly rent for the summer months while they are away (plus admin + bills).

Some landlords in Krakow also like having an apartment empty over the summer months, as if it is suitable, it can be used for tourist accommodation during the busiest months

Real Estate / Land Around Krakow, Poland - how to find it? [22]


I believe that is highly unethical. Is it even legal under Polish law?

I just read an article about such practices becoming more commonplace in Australia, where there is a severe rental shortage in the big cities. Agents have apparently starting charging "application fees" if someone wants to just look at an apartment, which apparently is illegal in Australia. Also there are bidding wars taking place, with agents driving the rental prices higher.

Article is here if anyone is interested: news.com.au/business/money/story/0,25479,24248897-5013951,0 0.html

Thankfully the situation isn't so bad in Krakow. Sure, I believe there is a shortage in some rental segments (mainly the cheap end) at present, but that doesn't mean it gives agents free licence to start using such underhand tactics.

My colleague told me that gumtree has recently banned any advertising of rental apartments in which interested tenants are asked to pay money upfront just to find out more information about the apartment, or arrange a viewing. This did happen.

This section has been added to their regulations for advertisers:
"Nie akceptujemy ogłoszeń agencji/ biur itp. pobierających opłaty przed pokazaniem nieruchomości. " / We don't accept advertisements from real estate agencies who ask for (take) payment before conducting viewings of apartments (something to that effect)

Basically, this is how it should work. You see a property advertised which you like and contact the agency. Before showing you the property, the agent will want to sign a representation agreement stating how much the tenant will pay should they decide to go ahead and rent it. This is normally between half and one month's rent, depending on the term of the lease agreed. If you don't want to take the property, you shouldn't have to pay anything to the agent.

This is how we do it anyway.


Mostly we still only take 1 month's rental amount as a security deposit, though I have noticed more owners recently asking for a larger deposit, particularly if there is any doubt about the tenants, i.e. they are students, for example, or a risk in some way.

Real Estate / Land Around Krakow, Poland - how to find it? [22]


All our contracts are in Polish and English (each page separated into two columns).
A contract which is signed by someone who doesn't speak the language is surely not legally binding?


Sorry it wasn't clear, we do not charge a person just to look at a property. They only pay if they actually sign a lease. However, normally we do sign the representation agreement (stating how much the fee will be) before showing the apartment.


I agree, and for that reason I am actively discouraging our owners who wish to rent their apartments from charging any more than 1 month rent as a deposit. At the end of the day though, it is their decision to make.

UK, Ireland / I'm a South African from the UK. Do I need a visa to go to Poland? [13]

Poland is now part of the Schengen Zone, so if as a South African you need a visa for most Western European countries (which are part of Schengen), then you will also need one for Poland. I thought Australians needed a lot of visas, but I pity you poor South Africans, you need them almost everywhere.

Life / English-speaking doctor in Krakow? [2]

Dr Cory is from the UK but has been living in Krakow for about 15 years, he is a good doctor and looks after a lot of the local expats.

MEDICINA Specialist Diagnostic & Therapeutic Centre

ENGLISH LANGUAGE CONTACT :
Dr Cory Young
Phone: +48 - 600-062-107
Address: Rogozińskiego 12
Opening Hours: Mo-Fri 8.00am - 6.00pm
Medicina is the oldest private healthcare provider in Krakow, offering the full range of specialist medical care to both individual and corporate clients for over 15 years. Over this time the centre developed an efficient and caring healthcare system based on providing the highest standards of service tailored to patients individual needs.

Real Estate / considering purchasing an apartment in Siemiradzkiego 25 Krakow [13]

Good area, nice building. I have been going inside on a regular basis since they started renovation works on it in early 2007. It's interesting to see how much work is required to get an old building up to 21st century standards. Whillst you will pay for the privilege of buying in such a building, at least you have peace of mind that everything is new and will work. You won't get this in the average old Krakow kamienica. The other thing you won't get is old neighbours with old rivalries fighting amongst themselves and looking for fights to pick.

Real Estate / considering purchasing an apartment in Siemiradzkiego 25 Krakow [13]


If DjK is saying to be careful in general, well fair enough. However, I can assure you that you don't need to be careful about the developer of this project.

Our agency has sold a few apartments in this building. Our buyers have already completed the purchase and are now fitting them out ready for habitation.

It's not like a new-build development where there may be doubt over whether the building will be built or the standard of the works. It is finished and ready to go and what you see is what you get.