Foreigners are buying real estate for cash. Most often in Warsaw, Krakow and Wroclaw – reports Friday's “Rzeczpospolita”.
The sale of apartments purchased in Poland by foreigners is growing. Last year, a record number of transactions were made – 17,330 with a total area of 1,008,409.75 square meters. A year earlier – over 14 thousand – “Rzeczpospolita” reported.
Foreigners were most likely to buy apartments in large cities such as Warsaw (3,535), Kraków (1,523) and Wrocław (1,491).
In 2023, purchases of premises by foreigners constituted about 6% of the sales market share. “Considering the fact that sales in 2024 decreased, the share of foreigners as buyers could increase to a level of slightly over 10%,” Ewa Palus, chief analyst of the Tabelaofert Nieruchomości portal, told “Rzeczpospolita”.
“The largest number of premises (residential and commercial) by area was purchased by foreigners in the following voivodeships: Mazowieckie (508,133.89 sq m), Dolnośląskie (216,377.70 sq m) and Małopolskie (123,837.27 sq m). Analysis of data from recent years indicates that Warsaw is definitely the city where foreigners are most willing to purchase premises” – according to information from the Ministry of Interior and Administration provided to the daily.
Statistics show that Ukrainians bought the most apartments, but Belarusians, Russians, Indians, Britons, and Vietnamese also bought a lot. The average area was 58.31 m2.
“Foreigners are most likely to buy apartments for investment, in new housing estates. They want to make money on it, because Poland is a developing and future-oriented market. Although there is also a large group of foreigners who came here, lived here for some time, also want to settle here and that is why they decide to buy an apartment for themselves,” Patrick Pieta, senior agent at Hamilton May, explained to “Rz”.
Foreign investors most often buy apartments (also wholesale) for cash, without loans. “They think that Warsaw is cheap, because in Kiev, especially before the war, it was more expensive. Especially since the war emigration from Ukraine, who came to Poland after February 24, 2022, is largely a middle class with a good financial status,” said Patrick Pieta. (PAP)
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