Krakow real estate: profitable investment for foreigners
Krakow is one of the largest metropolia in Poland, and the second-largest in terms of population density and area after Warsaw. The city is located on the banks of the picturesque Vistula River, at a distance of almost 300 kilometers from the capital. It is often compared to Athens because of a large number of castles, historical monuments and low-rise buildings.
Krakow has changed markedly over the past decades. The progress is obvious:
- lots of new residential areas are being built, as well as shopping and business centres;
- infrastructure is developing rapidly.
The abundance of historical and architectural monuments has made Krakow a popular tourist destination. At the end of the 20th century, the city’s central square was listed as a UNESCO site. Currently, the population of the metropolis and its suburbs exceeds 1 million people.
Why should I have property in Krakow?
Buying property in the local housing market is a profitable investment for foreigners. If we are talking about renting out real estate, then you should pay attention to apartments in new buildings and apartments in the centre, offered on the secondary market. They can be rented profitably all year round.
Krakow has created favourable conditions for buying housing. It can be purchased not only for cash but also for a mortgage, the rates for which are quite low. Foreign buyers have an opportunity to cover mortgage fees with the help of rent received from potential tenants. In addition, given the low deposit rates, the investment in housing in Krakow can be regarded as a profitable investment option.
