While buying a property we have to be aware that the nominal property price is not the only cost we have to take into consideration. Apart from these, we have to remember about:
- Notary costs, which in Poland are on the level of 1% of the property value for new units.
Example below for
Notary fee: 2 177,10 zł ( 1 770,00 + 23 % VAT )
Establishment of the registry : 60,00 zł
Registry inscription : 200.00 zł
TOTAL: 2 437.10 zł
- Property tax, paid each year – for flats 0,75 zł / 1m2, for commercial units 22,86 zł / 1m2
- Rental tax, paid each month or quarte or year – for flats and for commercial units 8,5%.
- Flat finish and furnishing. To finish the flat in quite high quality we should spend about 1000zl for each square meter of the property.
Taking all these factors into consideration we can see that the costs connected with the investments are relatively small comparing to western countries. In Poland on typical investment in flat we are able to obtain at least 5-6% of return.