Polish investments

Would anyone be willing to help me compile a knowledge base on Polish property investment? It would be set up on a city by city basis with a general section as well to deal with national laws, regulations, etc?

Kind regards,

Timothy

I would be very interested in this. I know a bit about Warsaw and am looking into Wroclaw -that's the extent of how I can help. Let me know what to do next.

Hi,
Think this is a great idea Tim.
I am also very intersested in this as looking to invest in Land or appt at some stage soon.
Registered on AAP and some of those links were very good, happy to share any info i gather through research too.
Will keep you posted.

Magnet, thanks for your interest. I will add some more info during the week. I am also looking at Polish land - it's a bit more complicated than an apartment as one cannot buy it in the capacity of an individual. Why don't you start the ball rolling and share what you have already and I can see if I can add to this.

Buyingabroad, I will send you a PM with details of where we are going to gather and store the info on each city. Most of my own info is already on Warsaw and Poland generally but happy for you to add to this.

I would also be interested in this. Alot the info I can provide is tax rules etc, this being my area of expertise.
How will this work....

In the light of some messages that I received in relation to this thread - just to clarify www.askaboutproperty.com is in no way related or linked to Askaboutmoney.

ClubMan said:

In the light of some messages that I received in relation to this thread - just to clarify www.askaboutproperty.com is in no way related or linked to Askaboutmoney.

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In view of this, its a bit unfortunate that the exact same language is used to introduce both sites on their respective home pages:

http://www.askaboutmoney.com/

Welcome to the Askaboutmoney.com.
If this is your first visit, be sure to check out the FAQ by clicking the link above. You may have to register before you can post: click the register link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below.

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http://www.askaboutproperty.com/

Welcome to the AskAboutProperty.Com.
If this is your first visit, be sure to check out the FAQ by clicking the link above. You may have to register before you can post: click the register link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below.

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That greeting text is common to all vBulletin forums; see here, for example.

Thanks for clarifying that.

ARCH said:

I would also be interested in this. Alot the info I can provide is tax rules etc, this being my area of expertise.
How will this work....

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Excellent - getting up to speed on the tax rules was one of the objectives I had when establishing the knowledge base. Just start posting what you know. Others will do likewise I hope. Also, if you're familiar with any developments, areas, or developers in Poland, then do share that as well.

Thanks.

I'm Polish lawyer with work experience in the property company in Poland. Now I'm living in Ireland, but still very interested in the polish property market and try to be up-to-date with everything regarding this matter. How can I help?

PP24 said:

I'm Polish lawyer with work experience in the property company in Poland. Now I'm living in Ireland, but still very interested in the polish property market and try to be up-to-date with everything regarding this matter. How can I help?

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Thank you for your interest. Would you like to give a brief overview of how to buy land in Poland? Also, some views are stated on the implementation of the higher VAT rate and if investors could be forced to pay a higher price as a result. Would you have a view? The address of the knowledge base is in the posts above. Are you practising law in Ireland?

Now registered. Are you planning to do the same for other Eastern European locations? Lativia, Bulgaria, Czech Rep, etc. I would love to find out more about these places but as usual don't know where to start.

Good idea Timothy.

buyingabroad said:

Now registered. Are you planning to do the same for other Eastern European locations? Lativia, Bulgaria, Czech Rep, etc. I would love to find out more about these places but as usual don't know where to start.

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Buyingabroad,

It's not 'you' but 'we' Anyone is free to start sharing knowledge, links, documents on these countries. I only know about Poland and that's what I'm sharing. The title of this thread only focuses on Poland so if you or anybody else wants to start something, then I suggest that you start another thread here. Remember though that AAM is about discussion and we have to respect its role and excellence in what it does. AAP is about a knowledge gathering database and information sharing - very different.

Would you like to give a brief overview of how to buy land in Poland?

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You can buy any land in Poland except forest land and agriculture land. You need to get the permition from Ministry of Interior and Administration for those. And you can check if interesting you land is one form above in the spatial management plan. This is what were you asking for? If you could give me some details I could help more.

Also, some views are stated on the implementation of the higher VAT rate and if investors could be forced to pay a higher price as a result.

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The modification will reate selling property. At the moment if you want to sell property you have to pay 10% tax of the purchased amount. This obligation concern you if you would like to sell your property within the 5 years since you've bought it. You can avoid paying if you decide to buy within 2 years any other property, use your money for renovation, rebuilding, apartment adaptation, etc. You have to give statement to the Polish Revenue. Another option is to wait and sell after 5 years. Those reliefs will disappear after 1 January 2007.
In the next year you'll be obligate to pay 19% of tax from the difference in prices between sold and bought property.
So, If you want to buy property and sell after 5 years it'll be better to buy now. If not, then depand of the grown prices, maybe it'll be better to buy after 1 January 2007.
You have to remember than in Poland the day of the purchase is the day of signing the authenticated deed. So, for a new apartment it'll be after completed construction.
There is also some proposition for changing VAT for new property, but the government project isn't clear. It looks like they want to keep in secret

Does it help?

Are you practising law in Ireland?

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No, I am not.

TimothyC said:

Buyingabroad,

It's not 'you' but 'we' Anyone is free to start sharing knowledge, links, documents on these countries. I only know about Poland and that's what I'm sharing. The title of this thread only focuses on Poland so if you or anybody else wants to start something, then I suggest that you start another thread here.

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I'll do that and also see what countries people are interested in.

Edit: TimothyC, are people who volunteer to lead a country/city allowed to moderate that particular forum? I think that it would be a good idea myself. Please let me know.