Apartment For Sale in Krakow, Poland

Features: Garden, Pool, Parking
Amenities: 24 Hour security
Description:
Country: Poland
Investment Risk: Medium

Krakow is Poland’s second most important and by far the most beautiful. 60% of Krakow’s 750,000 citizens are under 45 and the city’s popularity has created a strong GDP and low unemployment rate. Krakow is also located in one of Poland’s ‘Special Economic Zones’ making the city very attractive to foreign investors and is rated very highly (BBB+) by Standard and Poor’s investment rating. Rezydencja Ogrody is a luxury development aimed at Krakow’s aspirational middle class seeking a high quality of living and desirable location. Validus rates this as a strong medium to long term investment.

Key features:

Across the river from Kazimierz and 1.5km from Old Town
Located in riverside redevelopment area called Zablocie
High quality collection of stunning contemporary apartments

The investment:

• 25,000m2 plot incl. 7,000m2 of gardens with fountains and ponds
• Playground for children and nursery on site
• Large modern fitness centre
• Indoor swimming pool, Jacuzzi, sauna and massage studio
• Reception desk and 24 hour security
• 512 underground parking spaces
• Quiet and luxurious lifts from parking levels to apartments
• Commercial units on site for shops, a bank and post office
• Developer stock exchange listed
• Total Foreign Direct Investment (FDI) in Krakow is now $3.5 billion
• Major employers include Motorola, Shell, E&Y, Bayer, IBM, Delphi
• Capital growth of 56% in 2006

Financing
Polish mortgages in Swiss Francs, US Dollar, Euro and Zloty available subject to status. 80% LTV typical with rates between 3.5% to 7.5%.

Prices:
One bedroom prices from £52,304 / €77,493 incl. storage
Two bedroom prices from £83,267 / €123,367 incl. storage

Payment schedule:
10,000 PLN reservation deposit (apx. £1,780 / €2,580)
28% (3 instalments during initial construction)
72% on completion

Rent:
Rental income will vary according to the level of fit out. 5% rental yields can be anticipated.

Completion date:
Scheduled delivery 4th quarter 2009