How to Buy Property in Poland as a Foreigner

Who can buy property in Poland?

European Union citizens as well as citizens and companies from EEA states (European Economic Area) have the freedom to acquire properties in Poland, including lands, houses, and apartments, on par with Polish citizens. 
Non-EU legal entities and citizens may need to secure a permit from the Ministry of Internal Affairs. Nonetheless, the purchase of an apartment typically does not necessitate a permit.

Do the research

Poland offers several captivating and picturesque regions to explore, each with its unique charm. Numerous real estate websites are available to assist you in discovering the ideal property for your needs.

Some of the more popular locations for real estate investments are:

  • Tricity - Comprising three interconnected coastal cities in Pomerelia arranged along the Gdańsk Bay on the Baltic Sea, these cities include Gdańsk, Gdynia, and Sopot. Boasting a rich history spanning over 1,000 years, Poland´s maritime capital and one of the Baltic Sea´s major ports has evolved into a distinctive metropolis. Throughout its history, it has consistently embodied a spirit of freedom and courage.
  • Lublin - Stands as one of the leading cities in Eastern Poland and the Lubelskie Province. Positioned as the largest city east of the Vistula River and a mere 100 miles from Poland´s capital, it holds the moniker "gate to the East" and serves as a significant hub for education and scientific endeavors.
  • Kraków - Situated on both banks of the upper Vistula River, is the city and capital of Małopolskie województwo (province) in southern Poland. As one of the largest cities in the country, Kraków is renowned for its majestic historical architecture and cultural prominence.

Where to find properties online:

Financing

Banks typically request a comprehensive set of documents from foreigners seeking a mortgage, and certain banks may not even provide mortgage options for non-residents. In cases where mortgages are extended to foreigners, some banks may tie the approval to possession of a valid residence document.

Currently, securing a mortgage necessitates a minimum of 10% of the real estate´s value as down payment (LTV = 90%). However, following an evaluation of the documents submitted by a foreign applicant, a bank might stipulate a higher deposit requirement.
As of July 2023, the average interest rate for housing loans denominated in PLN (Polish Złoty) was 5.22%. This marked a notable decrease from the 7.92% recorded a year prior. However, it remained considerably higher than the 2.3% observed two years ago.

Property Visits and Preliminary Contract

Before purchasing a property in Poland, it is recommended to seek out a professional legal real estate agent who is proficient in English.
Typically, executing the final property sale agreement without prior completion of the preliminary agreement is not feasible or advisable.

Due Diligence and Sales Contract 

In Poland, due diligence is not independently regulated by Polish law. The procedures and principles associated with due diligence derive entirely from international practices. Similar to practices worldwide, due diligence in Poland is a crucial component of any transaction. It serves to furnish comprehensive information concerning the legal situation and associated risks related to the target entity and its assets, particularly those subject to the acquisition process.

Property Buying Costs and Taxes in Poland

Transaction Costs
    Who Pays?
Real Estate Agent Fee 2.00% - 3.00%
2.00% - 3.00%
buyer
seller
Notary Fees 0.25%-3.00% buyer
Legal Fees 1.00% buyer
Costs paid by buyer 3.25% - 7.00%  
Costs paid by seller 2.00% - 3.00%
ROUNDTRIP TRANSACTION COSTS 5.25% - 10.00%
Source: Global Property Guide

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