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Investing In Krakow Property In Poland
By Tem Pearson
Property investing in Poland is rapidly gaining popularity and one of the key areas of investment is the beautiful city of Krakow.

Warsaw, the country’s capital, has been seeing considerable inward investment, since Poland joined the EU in 2004 and although there are still profits to be made, property investors would do well to look slightly beyond the capital city.

This is why investing in Krakow property may be the next big thing for the property market in Poland. Krakow, the second largest city in Poland, is also widely recognised as the second most important city for the Polish property market.

Property in Krakow is much cheaper than in Warsaw and quality apartments are available for around £800 per square metre and at the lower end of the market a three bedroomed property can be purchased for under £30,000.

Bearing this in mind, it is easy to see why property investors are looking to this historic city for the next wave of property price increases. Savvy investors have been investing in Krakow, for over a decade. Back in 1989, a new influx of young individuals swept into the city, able to purchase some of the prettiest flats in Krakow, at the foot of the Royal Castle.

Since 1989, prices have steadily risen, but they still offer very good investments with huge potential for capital gains, over the next few years. The most expensive parts of the city are the apartments in the Old Town.

In this area, many of the aristocracy now live in the top flat and rent out the rest of the building and some even sell off one or more apartments in the block. In this area, an 80 square metre apartment will set you back around £50,000/US$95,000.

Some of these properties have yet to be reclaimed from post war times and offer a complicated option for property

investors who want to try and take control of these properties. Sadly, many of these unclaimed properties belonged to Jewish inhabitants, during the war and are very unlikely ever to be reclaimed.

Krakow was, in fact, the former capital, which is why it has such a wealth of historic buildings to tempt tourists and affluent inhabitants. In terms of atmosphere, Krakow is very similar to Prague, Vienna and Budapest and is widely recognised as one of the cultural centres of Europe; so much so that it was the European City of Culture in 2000.

In the last few years, there has been a shift in the popularity of certain types of property within Krakow, thus affecting future predictions.

Currently, the most popular type of property in Krakow are the one to two bedroom properties in the centre, although it is predicted that three to four bedroom properties will see nearly a two fold rise in prices. One and two bedroom apartments are set to increase by around 70 percent with four bedroom properties rising by 40 percent.

Krakow is arguably the next big thing for the property investment market, in Poland. Investing in Krakow property is the savvy move for investors who feel that Warsaw has had its day, but nevertheless feel that Poland has so much more to offer.

Article Source: http://www.article-matrix.com

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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