For all other queries please contact us directly on info@property-krakow.com.
How long does it take to get from Krakow to Warsaw?
It takes approx 2.5 hours by express train to travel from Krakow to Warsaw. Be sure to catch the express train, otherwise the journey can take up to 5 hours.
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What are the selling costs?
Most of the costs are covered the purchaser. Selling costs should only involve the agency fees which will vary between 1.5% to 3% depending on the value of the property that you are planning to sell.
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How do I transfer money to Poland to pay for the property?
If you are paying cash for your Polish property purchase, then you will need to transfer money into Polish zloty (PLN) to complete the transaction.
To buy the required currency you can either instruct your own bank to make arrangements, or purchase currency through a currency conversion company, which may offer more competitive rates.
The purchased currency can either be sent directly to your own bank account in Poland or you can use the Notary's ESCROW account. This is a client account in which your funds are kept separate and cannot be accessed without your permission. It is recommended that you set up your own bank account as you are likely need additional funds as a float in Poland.
It normally takes 3 working days to make an international money transfer, with the day after the transfer being counted as day 1. Misjudging the time it takes to make international money transfers is one of the most common mistakes made by investors buying property overseas, so plan carefully.
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How long does it take to make an international money transfer?
Typically it takes 3 working days to make an international money transfer, with the day after the transfer being counted as day 1.
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How do I open a Polish bank account?
If you are securing a mortgage in Poland, your bank should offer a bank account as part of the application process. If not, you will need to be present in Poland to open an account, which will require your passport as documentation. Several Polish banks offer their services (such as statements, phone and internet banking) in English.
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Is it possible a Polish or Jewish family or individual who was displaced in the war could stake a claim on a property I bought?
If you are planning to buy a residential apartment with its own title, it is extremely unlikely that you will have a claim on your property in this manner. Infact, if you buy a property in good faith there is a Polish law protecting you from claims from third parties. In the case of purchasing an entire building, checks should be done more carefully and a good lawyer employed to check the title thoroughly.
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What is the residential rental market like in Krakow?
The medium to long term residential rental market in Krakow is yet to mature and it is difficult to assess with a lack of quality information and reports. We estimate current gross yields on a medium to long term rented apartment to be between 5-6% with the demand for small centrally located units remaining good. Tourism and short break accommodation, however, continue to thrive in Krakow with each year seeing record numbers of visitors. Krakow was highlighted by the WTO as a city that will become increasingly popular as a short break destination.
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Why use the services of Property Krakow?
- Professional information service to guide you through the entire purchase process
- A one stop solution to purchasing property in Krakow, saving time and money
- Tried and tested network of contacts from from Lawyers, property development companies, real estate agencies, builders, translators, architects, and financiers
- Connection to a network of agents giving you access to a large pool of pre selected properties
- We represent you, the buyer. Agents in Krakow can sometimes represent the buyer and seller creating a conflict of interests
- Local knowledge, impartial advice as to the best areas to buy in and avoid
- Post sale support and services to help you with your new purchase
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How much does it cost to use Property Krakow's services?
We charge a commission of 0.5% or a min of 300 GBP with a ceiling of 1500 GBP on purchases over 300,000 GBP including commercial transactions. Commission is payable on signing of the pre agreement. Should you decide against purchasing a property in Krakow having completed a viewing day/s, we will charge a flat 100 GBP fee to cover costs.
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