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Buying a residential flat/apt in Poland as a foreigner


ska 8 | 13
19 Jan 2017 #1
Hello,

I'm American, having worked and lived full-time in Poland for a few years. I am interested in buying a flat/apartment in Wroclaw. I know it's possible without any permit, but have some questions.

Do you think it's a good idea, generally? If I get a bank loan, what would be interest rates (rough approximation is fine)? Can I get benefits from the Polish government (please tell me what current benefits/tax breaks are)? Should I utilize a real estate agent or a lawyer (i'm imaging most Polish people just sign contract without those special people)?

Thanks!
Lyzko 30 | 7,713
19 Jan 2017 #2
My advice is to do what the Poles themselves do: "łapówka" (little envelope) aka to pass a bribe etc.

Based upon personal dealings with Poland, both here and abroad, straightforward ways of business dealing simply don't work in formerly Black Market societies such as Poland, Albania, Ukraine or Russia!

I don't intend my answer to be facetious, but sadly, the unvarnished truth:-)
NoToForeigners 10 | 1,032
19 Jan 2017 #3
My advice is to do what the Poles themselves do: "łapówka" (little envelope) aka to pass a bribe etc.

Incitement to commit a crime is punishable Lyzko.
polinv
19 Jan 2017 #4
About 5% inc margin . You can still get 10% deposit though many are moving to 20% in line with gov recs. To buy in wroclaw say for arguments sake a new build 50m you are going to need about 400k inc the cost of furnishing. It could be 20/30k either way depending on your tastes and ability at DIY.

Dont think there are any tax breaks if buying for personal use (otherwise you could deduct vat, interest charges, depreciate, etc).
Peeweeher
19 Jan 2017 #5
My advice is to do what the Poles themselves do: "łapówka" (little envelope) aka to pass a bribe etc.

Who would you and why would you bribe some when buying an apartment? I cannot see an advantage.
polinv
19 Jan 2017 #6
Sometimes agents will work on behalf of a group of investors or an investor buying a multiple numbers of flats within a development, often getting a discount well into the double figures in percentage terms. The agent will take a cut of this but obviously you will be getting a better price. Q4 of last year was a record for Poland overall and Wroclaw has many housing developments in the pipeline, the new trend is small terrace blocks on the outskirts of the city, but still plenty of flats being built. So you have plenty of choice. I cannot really recommend an agent as Im not involve in residential, but I would say do a lot of looking as there is so much on offer. As for a lawyer, you shouldnt need one if its a straight forward sale, the notariusz will take care of it and you can get the seller to provide documents showing the deeds are clear and that the entity selling doesnt owe any taxes to the authorities nor the housing association.
Buggsy 8 | 98
20 Jan 2017 #7
I know it's possible without any permit,

If u're buying cash- yeah! If u're lookin to get a mortgage, like u mentioned- I don't think so.
Don't know your status but I don't think any bank would offer you a mortgage.
U need to be at least permanent res for a mortgage.
Interest rates now vary depending, mainly, on deposit raised from as low as 2,9% to as high as 5,2% ( It could be more
coz there are too many banks in Poland) With 20% deposit you are better off. With 10% it's still possible but your interest
rate will be very high till you reach the remaining 10% through your monthly installments.Then there are provisional charges which
they charge for the mortgage. Best deals are in PKO Bank Polskie and Bank Pekao but this is based on you getting a packaged deal

with at least 3 of their products- top of the list being a bank account with them.

Can I get benefits from the Polish government

On what bases?
I wonder how old you are. There is MDM but that is for young Poles and the money dwindles
quickly around this time every year.
Lyzko 30 | 7,713
20 Jan 2017 #8
@NoToForeigners, who's talking about commiting a crime?? The beauty of a bribe is that it is usually a kick-back of some sort for a favor trade, you know, the way things worked during Comminist times, you ought to know that:-)

I'm sure it's still done on a regular basis.
NoToForeigners 10 | 1,032
20 Jan 2017 #9
I'm sure you know very little about Poland.
Lyzko 30 | 7,713
20 Jan 2017 #10
As much or as little as you know about the United States, no doubt:-)

Black Market trickery's alive and well and can be seen here in the States among Poles, Albanians, Russians and assorted other former Satilite countries!

What you don't know could fill a book.
NoToForeigners 10 | 1,032
20 Jan 2017 #11
As much or as little as you know about the United States, no doubt:-)

Irrelevant. It's forum about Poland not US.

Black Market trickery's alive and well and can be seen here in the States

PERIOD.
Lyzko 30 | 7,713
20 Jan 2017 #12
So then you agree:-) WRESZCIE!!!!
Ironside 50 | 11,461
20 Jan 2017 #13
Black Market trickery's alive and well and can be seen here in the States among Poles, Albanians, Russians and assorted other former Satilite countries!

In other words it wouldn't be possible to bribe or be bribed by an American. lol!
Lyzko 30 | 7,713
20 Jan 2017 #14
Au contraire! What worked in the Old Soviet Zone(s), the Old Silk Road, works particularly well here in the good ol' USA!!! And now that the Tweeter-in-Chief has successfully seized control of the Oval Office, what worked during the Communist Era will work even better here at home:-)
Dibs 1 | 2
1 Feb 2017 #15
My advice is to do what the Poles themselves do: "łapówka" (little envelope) aka to pass a bribe etc.

Lyzko is talking nonsense and is best to be ignored. I've bought 7 flats in Poland in the last year and never paid any sort of bribe. Also never a lawyer. Always a notary. Sometimes a real estate agent.

The idea of paying a bribe (and to whom exactly???) for a flat in Poland is just ridiculous.
Marsupial - | 886
1 Feb 2017 #16
Never paid even 10 cents bribe in Poland. They were happy to get a business employ a couple more people for 75k australian per year because they get taxed to hell and back. Who made this up?
Lyzko 30 | 7,713
1 Feb 2017 #17
The whole point of a łapówka or a vzjatka etc. is that it's all done in a round about way.
BritboyByd 7 | 50
11 Sep 2021 #18
Merged:

Buying a Flat as a Foreigner post-Brexit



I wonder if any experienced real estate investors can help.

I wish to buy a flat in Poland for my own usage. I have a temporary residence card (valid for 10 years) issued, post-Brexit. Do I need to get a permit to buy property, given that the UK is outside the EU.

Another point, should one get a survey on the property (its only 10 years old and looks ok)? Does everyone do this, or just for old places?

Any other pitfalls problems I would appreciate it if anyone knows.

Thanks in advance,

BritBoy
Cargo pants 2 | 1,086
11 Sep 2021 #19
have a temporary residence card (valid for 10 years

Don't sound temporary, until a new law is in effect.

Do I need to get a permit to buy

Not for a flat, just have cash ready( lol in bank) hire a Notariuz and let them do the rest,do check how much is the monthly spodzelnia/ maintenance costs/ yearly taxes and if it fits your pocket.

Pitfall, problems = lol how are your neighbors.
Lyzko 30 | 7,713
11 Sep 2021 #20
A Polish colleague informed not too long ago, post-Brexit, that most local banks have notaries on staff much as is the practice here in the States.
Cargo pants 2 | 1,086
12 Sep 2021 #21
that is probably when you take a loan and usually that notary I heard has his own practice.I will ask my notary tomorrow if they can,I know they are not allowed to advertise for there services besides putting a sign outside there office,I once asked her why she not advertise and said she could loose her license.Usually some deal with the developers to close on there built flats and give a kickback to the developers in gotufka,illegal but it happens in business.
Lyzko 30 | 7,713
12 Sep 2021 #22
You got it!


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