Furnishing in Poland

Z

z106

Guest
DOes anyone know how much it should cost to make an apartment in Poland to take it from the state developers leave it in (I think they call it a grey finish ? Or is it a black finish??) to the point where it can be rented out?

A ball park figure or anything would help.

I'been quoted €20k to €25k.

Seems like a lot - but i guess you gotta put in kitchens and everything.
 
Seems like an awful lot of money. I paid just over €8k to finish a 50sq metre apartment earlier this year. Very happy with the quality of the finish, but maybe it was a special deal through the company I bought the apartment from.
 
For a standard buy-to-let, you should be able to source a second finish from 800 zl per sq m (approx €210 per sq m) to 1200 zl per sq m (approx €315 per sq m), depending on the standard you want to put in and the type of tenants you want to attract. Obviously, you can go lower (e.g. basic flats) or higher (for luxury apartments). Note that the cost of construction rose about 30% last year, which accounts for the increasing costs.
 
 
It seems a little too much, however I wouldn't assume it would be 25k PLN either.

I think that you mean "bialy montaz" (white fittings) which basicly mean the toilet and bathroom appliances.

I'm a Polish architect working in IRL and also investing in Krakow/Poland, from my experience the cost of bringing an average apartment (40 - 60sqm) to a rentable standard should break down as follows:

- from 3k for kitchen with all amenities
- from 3k for a nice bathroom
- 70E+ per a sqm of floor for basic but cosy floor finishes
- 1-2k for bedroom furniture
- 2k for living room furniture

I guess 11 - 15k is a reasonable price for a good standard 50sqm apartment.

good luck
 
Thanks for that polish bloke.
That's a good breakdown.

I'm pretty certain that it was euros i was given.

However - i will confirm and get back.
 
be very careful when getting quotes from estate agents in Poland for fitting out an apartment. they do not have a clue. on a 50 sq m flat I have been quoted from 10,000 PLN to 60,000 PLN and one comedian wanted 150,000 PLN.
the estate agents are not trying to stiff you necessarily, it is more of a case of them not having to worry about fitting out costs.
they sell the flats in a raw 'developers state' and expect you to find a local builder to do the work. so as a result they will just quote the first figure that comes to mind. that way you sign the contract, they make the sale and pocket the commission.
 
 
I was very interested in your reply. (my first time using forums)I am currently kitting out an apartment in Mokotow district, Warsaw where I will be seeking professional middle class tenants.
I have to say that the apartment is in a very good area and will be finished to a high standard but the cost of fit out is also I think high, my main concern is not how cheap or expensive the kit out is, but is it value for money and will it add the equivalent value to the apartment when I look for a sale in the future. I have been quoted 86,000 pln for a 3 room, 72msq apartment (ie. 1 bedroom, kitchen, living room ,wc, bathroom and entrance hallway). My agent has quoted fees at 10,000pln (inc vat) for the managment of the finishing This is included in the total price of 86k pln. Most builders in Ire add 20% as their own fees on a building project and another 10% for material wastage. I think the managment fee of 10,000pln is very appropriate for finishing cosidering what i paid for the apartment in 2006.
Their is obviously a building boom in Poland,I can only imagine that a similar scenario as to what happend in the celtic tiger where both labour and material costs here went through the roof.

Would you think I am getting a fair deal ?

regards,

fear peile.
 
Warsaw prices are well above average in Poland.

Workmanship and materials used for finishing are (still) much better than the ones used in IRE - if this is true with your apartment then I think the price is good. I wouldn't consider the manager's cost as a seperate thing if it is included in the price.

There is a risk in Poland I think. It is not the government (which is actually quite good, despite the bad/red press) but it is the population trends in the CEE. I hope it won't impact Warsaw too much.
 
Many thanks for that Polish bloke
I would like to think i am getting a fair deal as i put my trust in this person in 2006 when I purchased and to date has always come up trumps and so far has always been upfront with me. (not something i can say about some of the Irish agents selling polish property)

As for the Population trends of Poland and CEE countries, I have experienced this here in Ireland in the 80s and many more Irish people have in the 60s, but we got through it and i believe that Poland will too mainly because of the huge FDI in recent years which will make Poland a major player in the EU.

thanks again.

fear peile.
 
You must log in or register to reply here.
Menu
Log in
Register