Krakow is the fastest growing city in Poland. New residential accommodations are built there all the time and those who invest in Krakow real estate today will be able to resell it at a double price some fine years later. The market tendencies suggest that this is the case indeed.
- Why you should invest in real property in Krakow
- Why purchasing an apartment in Krakow makes good economic sense
- Property in Krakow is growing in value
- Purchase the apartment directly from the developer
- A brief description of Kossak Residence
- Legal support to those wishing to purchase an apartment in Kossak Residence, Krakow
We invite you to consider purchasing an apartment in the Kossak Residence building in Krakow. The cost of the property located at the city center is 3 160 EUR per square meter but it is going to grow. The building is completed and the apartments are on sale. Every week, fewer apartments are available in Krakow.
Please contact us by email or telephone to learn more about the opportunity to purchase an apartment in Kossak Residence, Krakow.
International Wealth experts will be happy to provide legal support to you in purchasing an apartment in Krakow without leaving the comfort of our home. We will also gladly assist you in setting up a company in Poland. Buying the apartment in the name of the company rather than in your personal name can be a very good idea, as in this case, you will have to pay a smaller property tax in the country. In addition, we can help you open a personal or a corporate bank account in Poland or any other European country.
Why you should invest in real property in Krakow
Krakow is the only Polish city whose population has been growing over many years in a row. While other large cities in the country are losing their inhabitants, more and more people find abodes in Krakow. To meet the growing demand for housing the Krakow developers erect new buildings with apartments of various quality and sizes. You can find elite high-rise apartment buildings close to the downtown areas as well as inexpensive apartments in the suburbs. The prices for the downtown and uptown apartments differ considerably, so you can look into the latter option too if you do not want to spend too much money on buying an apartment in Krakow.
Why purchasing an apartment in Krakow makes good economic sense
The prices for apartments in Krakow are comparatively high but real residential accommodations are in high demand anyway for the reason given above. Many people prefer buying new apartments and adjusting them to their needs. Purchasing an apartment in Krakow would be a wise investment and this is why.
Most people buying second homes in Krakow (or any other Polish city) do not spend their own money. Rather, the investor would take out a mortgage, let the apartment on a lease and use the rental payments to pay back the loan. A long-term lease agreement will bring you from 5% to 9% of the cost of the apartment per year. The exact income will depend on the location of the property and its type.
Inexpensive apartments located close to the AGH and Jagielloński University are popular with students. An apartment in the city center will normally bring you a heftier profit though.
A long-term lease agreement is often a good solution for the investors who do not have a lot of free time. What they do is sign a contract with a managing company, pay a share of the rental fee to the company and take care of nothing else.
The least expensive way to purchase an apartment in Krakow is to purchase it directly from the developer who has just completed the construction of the building. If you buy an apartment located close to the city center, fairs, and main tourist attractions, you will have a good chance to let it on a short-term lease thus making a bit more money. Tourists and businesspeople visiting Krakow would be your customers as they seek comfort and proximity to the center of things.
The matter is that a short-term lease will probably bring you a larger profit if everything is organized in a proper way. You can earn 10% or even 15% of the cost of the property per year. Again, much will depend on the property type and location as well as the range of services that you offer to customers.
Property in Krakow is growing in value
Prices for real property in Krakow have been ceaselessly growing for a number of years. If this tendency continues, your apartment is going to cost considerably more by the time you pay back the mortgage. Thus, you can have some capital gains if you invest in an apartment in Krakow.
Purchase the apartment directly from the developer
The prices for apartments in Krakow are comparable to those for apartments in the capital of the country. That is to say, the prices are high. At the same time, a stable passive income from rent will be almost guaranteed if you invest in an apartment in Krakow.
Buying a new apartment (one that has not been lived in) would be the best choice. You can find an apartment that needs painting and decorating so that you can do the finishing work in accordance with your taste and preferences. You can also find an apartment that you can start using on the spot. This type of apartment in Krakow is most likely to exhibit the nicest construction materials and the nicest looks.
You can purchase a five-year warranty from the developer if you wish. It is not obligatory but if a pipe leaks, for example, the warranty is going to cover the costs of the repair work.
A brief description of Kossak Residence
Let us talk about Kossak Residence, Krakow in some detail. The building is located at the foot of Wawel hill, at the point where Rhetoric Street meets Kossak Square. Wawel hill is where Polish kings used to reside so you will feel the great history of the country in the air. Many places of interest are located nearby or they are easily reachable by public transport otherwise. You can take an evening walk through Planty Park, stroll along Wiślane boulevards, and have a cup of coffee at the Krakow market square.
The windows of Kossak Residence face a mansion where the famous Kossak family have been living for years. The mansion has seen prominent Polish painters, writers, actors, and other artists. The fifth generation of the Kossak family currently resides in the mansion.
The elegant shape of Kossak Residence fits well with the surrounding modern and historic buildings. The project was designed by Lewicki atak, a famous Polish architecture and design company. Bright colors, highly functional interiors, and numerous modern solutions characterize the building. Kossak Residence will be very comfortable to live in.
Kossak Residence address is: Old City, 5 Plac Kossaka street (1.5 km away from the center of Krakow). The construction of the building was completed at the end of 2020.
Kossak Residence is a single building containing 56 apartments. The building has six floors including the ground floor plus three more underground floors.
Seven apartments are still available for purchase. Their floor spaces vary between 36 and 100 square meters. The cost of one square meter is 3 160 EUR.
- Studio apartment 36 m2 from 120,000 euros.
- One-bedroom apartments 51 and 52 m2 from 165,000 euros.
- Two-bedroom apartments between 62 and 100 m2 from 220,000 euros.
Main characteristics of Kossak Residence:
- Construction dates: construction was launched in the third quarter of 2016 and finished in the fourth quarter of 2020.
- Number of buildings: 1 apartment building.
- Number of floors: Six floors above the ground level and three floors below the ground level.
- Number of apartments: 56.
- Apartment height: from 2.60 to 2.80 meters depending on the floor.
- Ownership: apartment ownership and land ownership rights.
- Additional space: balcony.
- Utility rooms: available.
- Parking: underground and surface car park available.
- Facilities: round-the-clock security surveillance and monitoring, Internet connection, air conditioning, facilities for people with disabilities, administrator, cable TV, cleaning and other house services, elevator, fenced premises, and a video door phone.
- Nature: a park and a river are in close proximity.
Location of Kossak Residence
The Old City is the most picturesque part of Krakow. The area covers 556.76 hectares. Due to its long history that starts in the 8th century AD, this area is abundant in historical monuments famous not only in Poland but also all over the world. The Old City of Krakow is on the list of UNESCO world heritage sites. There you can find baroque-style, Gothic-style, Renaissance-style, and eclectic-style buildings. There is very little area to build new houses in the Old City and some ancient buildings are modernized and refurbished offering a contemporary level of comfort to the residents.
Green areas such as Bulwary Nadwiślańskie and Planty are nearby as well as children’s playgrounds. Modern buildings are harmonized with the historical ones. Rows of shopping malls and the King’s Palace are close to Galeria Krakowska with 270 stores. There are four movie theaters, six theaters, 15 schools, and 6 educational institutions of other types in the district. Jagielloński University in particular is a world-renowned higher education institution. Clearly, this part of the city as a whole is a major tourist attraction.
The transportation in the Old City is superb. The Central Railway Station is located there and the airport is 15 kilometers away. A number of bus and tram lines are to be found there. Highway № 780 enters the district in the west, while highway № 776 runs along its southeast border. The bus stop closest to Kossak Residence is only 80 meters away.
Residents of ЖК Kossak Residence do not have to worry about schooling their children. There are 16 educational institutions in a close proximity to the place. These include, among others:
- Pod Chrząszczykiem private kindergarten 140 meters away;
- A private school 170 meters away;
- Jagielloński University a couple hundred meters away.
Medical clinics and health centers are also nearby:
- Ultramedica clinic 300 meters away;
- FAMILIA private medical center 490 meters away.
Shops and supermarkets
A supermarket is 90 meters away and one more is 130 meters away. There is also an all-nighter 200 meters away.
There are three sports grounds located close to Kossak Residence (330, 340 and 350 meters away in different directions).
You will be able to save on property taxes a bit, if you register a company in Poland and make it the owner of the apartment. Please apply for our assistance in the matter.
Legal support to those wishing to purchase an apartment in Kossak Residence, Krakow
If you are interested in purchasing an apartment in Kossak Residence, Krakow to make it your second home or to let it on a lease, we will be happy to provide legal support to you in this endeavor. If you would like to consider investing in real property located in other countries, please follow this link to learn more about the investment opportunities. If you open a company in Poland, you will be able to save on property taxes. We will gladly help you with the company formation as well.
A business company in Poland will require a corporate bank account and you are welcome to apply for a free consultation on choosing foreign bank accounts together with professionals. If you have any questions related to the matters discussed above, please do not hesitate to write to email@example.com. You are also welcome to use our live chat or a messenger to contact us.
What is attractive about the real property in Krakow?
Krakow is the only Polish city whose population has been growing over many years. While other large cities in the country are losing their inhabitants, more and more people choose to live in Krakow. To meet the growing demand for housing the Krakow developers erect new buildings with apartments of various quality and sizes. Purchasing an apartment in Krakow can bring you a stable passive income. A long-term lease agreement will bring you from 5% to 9% of the cost of the apartment per year. With short-term leases, you can earn 10% to 15% of the cost of the property per year.
How much do apartments in Kossak Residence cost?
Seven apartments are available for purchase. Their floor spaces vary between 36 and 100 square meters. The cost of one square meter is 3 160 EUR. Available apartments:
Studio apartment 36 m2 from 120,000 euros.
One-bedroom apartments 51 and 52 m2 from 165,000 euros.
Two-bedroom apartments between 62 and 100 m2 from 220,000 euros.
Kossak Residence address: Old City, 5 Plac Kossaka street. It is a single building containing 56 apartments. The construction was completed at the end of 2020.