Are you looking for property abroad? Are you looking to buy that dream holiday home or are you simply wanting to invest in a property? If Krakow is on your list, then read this article. This article will provide a guide to finding properties and apartments in Krakow.
Facts about Krakow
Krakow is the second largest and one of the oldest cities in Poland. Krakow is situated on the Vistula river in the Lesser Poland region, the city dates back to the 7th century. Krakow has traditionally been one of the leading centres of Polish academic, cultural, and artistic life. It is one of Poland's most important economic centres. It was the capital of Poland from 1038 to 1596 - the capital of the Grand Duchy of Krakow from 1846 to 1918 and the capital from the 14th century to 1999. It is now the capital of the Lesser Poland.
Property for sale in Poland
Whether you are looking for old apartments or recently developed apartments, the process of searching for a property is usually the same. However, real estate in Poland is slightly different yet, somewhat similar. Property market
Citizens of the European Union, Iceland, Norway and Liechtenstein are free to purchase and own any real estate in Poland except for any farmland and forests. Other aliens can buy residential property such as apartments or houses with plots up to about an acre in urban areas, with the intent to take up residence in the country. They should make a pledge that it will be their fixed asset and that they do not own other property in Poland. All foreigners may also inherit any property. The initial permit can last up to six months.
Krakow is the second most important real estate market in Poland and the most attractive city to live in. Foreign investors have bought up about 70 percent of flats for sale in the most attractive Old Town central district or close to it. Regarding residential property, Krakow’s quality apartments in a decent neighbourhood sell at € 2,150 or so per square metre, while flats in Krakow at the market’s lower end cost even a third of that. Three-bedroom houses are priced between € 120,000 and € 600,000 accordingly to their quality, state of repair and location. Property tax
Property tax in Poland has been introduced as one of local taxes. It is paid yearly and the amount depends on the size of the real estate regardless of its market value.