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When it comes to buying a house or apartment, many of you prefer renting it first. And that’s very understandable as well. It allows you to test things out before making a significant investment and staying in Poland for years on end. That said, if you’ve made up your mind about the purchase, you might be interested in having some type of real estate under your name as well. Nonetheless, how does that end up for foreigners in Poland? Let’s discuss more on this below:

Why purchase in the first place?

You could be coming from a place like Denmark or Germany where property ownership isn’t the norm; rather, it’s common for people to rent properties instead of purchasing. If you’re planning to stay in Poland for many years and have the ability to opt for a property purchase, here’s a collection of reasons why you should go for it:

  • Prices: In Poland, the house price to income ratio is 9.77, making it sit at the 34th place in the world. This entails that the properties here are usually pretty budget-friendly, even if you earn locally. It’s a better ratio compared to Russia, Hungary, or France, for example.
  • Investment: Rather than storing your money in your bank account, it’s an excellent idea to invest in real estate. Any property you own in Poland can be given out for rent or lease. You can also join the norm, keep an eye out for an excellent opportunity, and if you find the deal right, you can also sell it for a massive profit.
  • Stability: This might come as very obvious, but do not underestimate this point. Having a place to your name means the liability of restoring and decorating the whole place is on you. On the flipside, you might also see it as a burden since it requires some care and attention.

Should you go for a flat or a house?

When it comes to expats, it’s easier to purchase a flat in Poland since it doesn’t require you any special permit. In fact, you don’t have to reside in Poland permanently as well. However, if you do live in Poland permanently, it’s enough to show a residence permit or visa of the demanded type.
Purchasing a house is a tad trickier in Poland for foreigners. You have to apply for a special permit of acquiring real estate to the Polish Ministry of the Interior. While this usually is a formality, when I applied for it, it took me about a month. However, there are also distinctions to their principles. The most common of them state that you don’t require such a permit if you’ve been staying in Poland for more than the 5-year timeframe on their basis of permanent residence or long-run EU residence (only two if you are married to a Polish citizen).

The rewards of purchasing a house in a prime location

Unlike the situation in the majority of Western European countries, in Poland, you can still buy a home near the centre of the capital — Warsaw — for a reasonable price.

Picture that in Paris or London, for example! You’d have the ability to purchase not only the residence but a substantial size of a plot as well. As you already know, parcels of land near the centres of cities are a rare resource. You can expect a price increase above average.

Therefore, buying a house on a sizeable plot of land in excellent location is a great investment and a smart choice for living.