Property Poland - Poznan/Krakow

[Bryman]

I remember reading about the whole ryanair thing in a newspaper article months ago but can't for the life of me remember where exactly. MortgageMate i'd be happy to share any info, contacts etc. i pick up before or after my trip out there in a couple of months, so i'll keep you posted with anything relevant

 

[philboy]

cheers for the advice guys. I haven't made any immediate plans but in the new year, i'll look into it. Would you think it would be a great idea to get groups of people who are interested in investing in Poland to travel over a few times a year? I know Propman is involved in something like this and a few heads are better than one.

J

Thats an excellent idea MortgageMate. Im sure different individuals within the group would have would be experts at different areas eg. 1 has good knowledge of the area, 1. has good knowledge of the legal & tax implicaitions, 1 has good knowledge of the building trade etc.... Im sure a group of individuals could also get some good discount from developers too.

 

[Rafal]

take a trip down to Zakopane - about 100km away. It has skiing at certain times of the year & other adventure sports. I never made it unfortunately but def next time. I met a few Polish people on the train from Warsaw-Krakow who were going there so it seems to be poplular with the locals too.

You're right Philboy : Zakopane is polish capital of winter sports and most popular place for winter holidays in Poland

 

[Rafal]

Im sure a group of individuals could also get some good discount from developers too.

forget about it

 

[Mary2]

Geting this thread back to the topic at hand I am in Poznan at the minute and the prices are going up by the month. There are several big developers preparing to release in the next moth or so and they are all above 7K per square meter if the location is inany way decent. Some are above 9K. These are first fix prices. Anyone found anything cheaper?

 

[matthew_bm]

Geting this thread back to the topic at hand I am in Poznan at the minute and the prices are going up by the month. There are several big developers preparing to release in the next moth or so and they are all above 7K per square meter if the location is inany way decent. Some are above 9K. These are first fix prices. Anyone found anything cheaper?

Mary2 in what area have you seen developments up as far as 9K per square meter? very close to, or on, the old town square?

mortgagemate can't email you as no contact details saved in your profile..

 

[canny]

In my view it is better to invest close to city centres, as new developments tend to be out of town and large.The cities in Poland will see population growths as people move in from the land, looking for work.
In Poznan, older flats needing minor renovation, within 15 minutes walk of Stary Rynek [old square] would be a good investment

 

[geoarno]

hello to everyone

my first message to the forum has to be an issue that i am lately considering. i am acquiring a number of flats (5,6) and perhaps some land (3, 4k sqm) in poland. i am not sure whether it is advisable to form a company for that purpose.

my considerations are (1) amortization, (2) expenses set off on income, (3) taxable base on income and (4) tax on capital gain in future sale.

regarding the first 2, there seems not to make much difference which vehible one chooses. for the latter 2 the case is different.

as for taxable base a company is taxed on the flat rate of 19%. a natural person is taxed on a scale up scheme (19/30/40). thus, forming a company seems to be advantageous (though if 2,5 of the value of the property is amortised yearly, then this should make little difference - i also think that a company can have easier expenses set off).

tax on capital gain is flat for a company at the rate of 19%. for natural persons the regime is in transition. up to now there is NO tax on capital gain if you do not sell within 5 years from acquisition, or you do but then you reinvest. otherwise you pay 10% on the sale amount! however the tax regime changes and one would pay 19% on capital gain irrespective of the time of sale (just as like under a company).

i would like to hear from seasoned investors and those with experience in constructive tax approach. what would you choose? is there any other vehicle you consider more beneficial?

thanks and happy new year

ps. for inheritance forming a company is the only sensible thing to do. however, lets no take this into the equation for the time being.

ps2. i tried to begin a new thread but i was not allowed. any reason why is that?

 

[ashleyrigg]

I agree with Kodzik. I think Poznan is a great city with a large student (both foreign and local)population and rising banking community and a considerable industrial sector all leading to a sustainable rental market. I have purchased a number of apartments there. They are very hard to find, they better areas get bought up very quickly. More than that if you go tryng to rent a new apartment in a good area the estate agents will all tell you that these do not sit on the market for more than days / week.

Anyone interested can send me a private message and I will give you the contacts I have there.

I'm looking at a new build by park warta close to the river. It's 7200 PLN per sq metre black finish and parking inc taxes. This seems very expensive. Do you agree? Also any idea what the rental income might be per sq m per month?

 

[dunkamania]

Is there any evidence of a resale market or is it just Irish investors hyping up prices as per the status quo

 

[Bnage]

Be careful if looking at Poznan at the moment. The local council have ripped up 28 construction permits at the application stage; including a Nickel development I was involved in.

I have tried to get behind the reasoning for this but come up againt a brick wall! If I hear any news I will post it here.