For many years Warsaw has been experiencing a boom in the real estate market. Every year new residential buildings are being constructed and the local market is now full of properties to buy. However with the prices going up tens of percent every year, it is now as expensive to buy a property here as in many Western European cities.
You can see the current map of property prices in Warsaw at http://ceny.citydom24.pl
EU citizens (as well as Icelanders, Norwegians and Liechtensteiners) shouldn't have problems buying a property in Warsaw. Generally whether you are a EU citizen or not, as far as urban properties are concerned, applicants shouldn't encounter too many problems. Non EU-ers have to apply for a special permit from the Ministry of Internal Affairs, but this is generally forthcoming, provided you don't have a criminal record.
Especially when considering buying a property on the secondary market, don't be afraid of the price. Even when the amount asked by the owner is within your reach and corresponds to the flat's value - offer a slightly lower amount. To start with sellers ask more than they expect to get. As a rule, they are willing to come down on the price. Usually, the final price is 5-10% lower than the calling price.
The are numerous estate agencies or specialized websites in Warsaw. You can use resources already listed in two previous sections or try to contact real estate agents and developers:
Agency fees are usually paid by the seller and average 2 - 3% on most residential sales.
For real estate transactions there is a 2% sales tax. A buyer will have to pay a notary fee. It is calculated based on the progressive tiered structure. There are 7 levels of notary fee. Most common interval is for properties valued between 60,000 and 1,000,000 PLN. In that case a buyer will have to pay 1010 PLN + 0.4% of the value over 60,000 PLN.
Other taxes include judicial charges and other processing fees, totally around 400 PLN.
To sum up, to buy an apartment of the value 400,000 PLN, we will have to pay additionally ca. 20,000 PLN of other fees.
To calculate additional costs and taxes you might use property taxes calculator at http://www.money.pl/
Being a foreigner in Poland doesn't mean you can't take a mortgage in a Polish bank. In fact loans are available to foreign investors for the purchase, construction, modernization and refinancing of Polish properties.
Loans can be denominated in a number of different currencies - currently loans are offered in Euro (EUR), US Dollar (USD), Zloty (PLN), Sterling (GBP) and Swiss Franks (CHF).
The typical maximum LTV (a ratio of the outstanding debt on a property to the market value of that property) is between 60-80% with loan duration up to 35 years, depending on your age. Your foreign income will be taken into consideration when determining your eligibility and the terms of the loan.
For more information about mortgages in Poland visit
A property tax in Poland is charged annually by the state authorities. For residential properties the tax is calculated on the basis of the building/apartment usable area.
The local authorities are deciding on the level of tax, but it can't exceed 0.56 PLN per usable area annually (referring to residential properties only).