How to buy an apartment in a new building in Poland: step by step instructions

Foreign real estate is a reliable investment decision. In this guide, we will tell you how to buy an apartment in a new building in Poland as a foreigner!
Published at 27/07/2022
  1. Search for the best option
  2. Reservation of an apartment or making a deposit
  3. Apartment payment
  4. Contract with a developer
  5. Keys handover
1.

Search for the best option

Search for the best option

When starting to choose housing, it is important to know who can buy an apartment in Poland. Any person has the right to purchase real estate in this European country, even if he is not a resident. Just look for a convenient area, compare offers and decide on a developer. The more public infrastructure nearby (school, university, office center, etc.), the easier it will be to rent such housing out in the future.  

2.

Reservation of an apartment or making a deposit

Reservation of an apartment or making a deposit

If you liked an apartment in Poland at the construction stage, you don’t want to miss it, but you want to consider a couple more options and then ask the developer for a reserve. To do this, it is required to deposit from 5 thousand zlotys to 10% of the cost of the apartment, and it will be removed from sale for a month. If during this time the purchase and sale transaction has not taken place, the money will be fully returned. Are you sure of your choice? Make a deposit (about 20%) and sign a purchase agreement.  

3.

Apartment payment

Apartment payment

The payment mechanism is one of the first questions if you are interested in how you can buy an apartment in Poland from a developer. If you do not need bank assistance, you can deposit money in several tranches corresponding to the stages of construction (at least four). The initial payment depends on the stage of construction: if only the foundation pit is ready - 20%, after laying the foundation slab - 30%, etc. If the house is completely ready, you can pay the full price right away. Foreigners, like citizens, can apply for a mortgage at 3-4% per annum. In this case, the first installment will be about 20% of the property value. To do this, you need to come to the bank with a reservation agreement or a deposit. Based on the information received, the specialist will calculate the conditions and draw up a payment plan. 

4.

Contract with a developer

Contract with a developer

The process of buying an apartment in a new building in Poland necessarily includes the signing of an agreement with a developer. This stage begins as soon as your mortgage is approved by the bank or when you have made the final decision to purchase, having the full amount. The document is signed by a notary. If you do not speak Polish well enough, a sworn translator will be required.  

5.

Keys handover

Keys handover

The procedure for buying an apartment in Poland ends with the signing of the act of acceptance and transfer of the finished object. It is important for the buyer to make sure that the developer has received permission to put the building into operation. You need to carefully inspect the housing, especially if you ordered finishing. Rarely, but sometimes imperfections occur. In this case, you need to submit an appropriate application to the developer. If everything suits you, both parties sign a full contract of sale at the notary. 

Conclusions
The rules for buying an apartment in Poland in the primary market are quite simple, because the responsibility of the developer to the client is enshrined in law. If you are worried about the nuances of what you need to know when buying an apartment in Poland, use the services of GEOLN.COM. Our experts will help to comprehensively check any developer, provide full legal support and advice on the acquisition of real estate.
How to buy an apartment in a new building in Poland: step by step instructions — Advices from experts and reviews of real estate on GEOLN.COM. Photo 6

Diana Kabakci

The leading expert of the real estate market in Georgia
Education: MBA
Sphere: Real estate / Investments / Lawyer
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Expert on countries: Cyprus, Georgia, Kazakhstan, Poland
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Experience: 14 years
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