buying apartment buildings in poland ?
January 18th, 2010
im trying to invest property in poland my question is do they just sale one apartment or can you buy the whole building and rent them out i know some foulks in poland so paper work is not a problem. i just want to know if its worth it ?? compared to investing in the us or anywere els ????
Sell House Quick
Yes it is worth it, just don’t buy the whole building (you won’t be able to afford it there’s no way) and make sure you get something nice that will sell ( preferably in the city where they are demanded the most)
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Most real estate investors recommend not buying a property out of state.
You want to buy one out of country?
In my opinion, foolish mistake.
you should have done that 2-3 years ago; since then real estate prices raised +100% in Poland. It is said that prices must go down as most Polish people are not able to afford a flat anymore - and this is good for you if you want to rent. I personally don’t believe prices will go down.
If you want to be sure you will find people to rent your apartment, buy in large cities like Warsaw, Krakow, Wroclaw, Gdansk, Poznan.
About buying the whole building- I wouldn’t do that. I would buy apartments in different areas of the city = never put all your eggs in one basket.
Have no experience in other markets so cannot compare to US or other places. Investing in properties in Poland was and still is a good business for lots of European people.
PS. as a foreigner, you are not allowed to buy building sites (land) in Poland unless you get a permission.