roperty investing in can be purchased for under
Poland is rapidly gaining £30,000.
popularity and one of the
key areas of investment is the Bearing this in mind, it is easy
beautiful city of Krakow. to see why property investors are
looking to this historic city for
Warsaw, the country’s capital, the next wave of property price
has been seeing considerable increases. Savvy investors have
inward investment, since Poland been investing in Krakow, for
joined the EU in 2004 and over a decade. Back in 1989, a
although there are still profits new influx of young individuals
to be made, property investors swept into the city, able to
would do well to look slightly purchase some of the prettiest
beyond the capital city. flats in Krakow, at the foot of
the Royal Castle.
This is why investing in Krakow
property may be the next big Since 1989, prices have steadily
thing for the property market in risen, but they still offer very
Poland. Krakow, the second good investments with huge
largest city in Poland, is also potential for capital gains, over
widely recognised as the second the next few years. The most
most important city for the expensive parts of the city are
Polish property market. the apartments in the Old Town.
Property in Krakow is much In this area, many of the
cheaper than in Warsaw and aristocracy now live in the top
quality apartments are available flat and rent out the rest of the
for around £800 per square metre building and some even sell off
and at the lower end of the one or more apartments in the
market a three bedroomed property block. In this area, an 80 square
metre apartment will set you back In the last few years, there has
around £50,000/US$95,000. been a shift in the popularity of
certain types of property within
Some of these properties have yet Krakow, thus affecting future
to be reclaimed from post war predictions.
times and offer a complicated
option for property investors who Currently, the most popular type
want to try and take control of of property in Krakow are the one
these properties. Sadly, many of to two bedroom properties in the
these unclaimed properties centre, although it is predicted
belonged to Jewish inhabitants, that three to four bedroom
during the war and are very properties will see nearly a two
unlikely ever to be reclaimed. fold rise in prices. One and two
bedroom apartments are set to
Krakow was, in fact, the former increase by around 70 percent
capital, which is why it has such with four bedroom properties
a wealth of historic buildings to rising by 40 percent.
tempt tourists and affluent
inhabitants. In terms of Krakow is arguably the next big
atmosphere, Krakow is very thing for the property investment
similar to Prague, Vienna and market, in Poland. Investing in
Budapest and is widely recognised Krakow property is the savvy move
as one of the cultural centres of for investors who feel that
Europe; so much so that it was Warsaw has had its day, but
the European City of Culture in nevertheless feel that Poland has
2000. so much more to offer.
About the Author:
Providing essential information on buying property abroad, Tem Pearson is dedicated to offering all the necessary information for people looking to buy property in different countries. Visit www.buying-property-abroad.info for all the best info.
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