The real estate sector in Poland has been growing steadily in recent years, with foreign investment playing a major role in driving the market. The country has seen a surge in demand for residential and commercial properties, as well as a surge in the construction of new buildings. The Polish property market is attractive to investors due to its relatively low entry costs, favorable taxation system, and the availability of attractive financing options.
The residential market in Poland is particularly strong, with the country’s population expected to grow by around 1.5 million people in the next five years. This is driving demand for both rental and purchase properties, with the rental market in particular showing strong growth. The commercial property market is also booming, with the number of new office buildings and shopping centers increasing rapidly.
Starting a commercial real estate
Starting a commercial real estate business in Poland can be a rewarding venture for those looking to break into the industry. Commercial property involves the buying, selling, and leasing of properties for business purposes. It requires a lot of knowledge, experience, and resources, but with the right preparation, anyone can start a successful commercial real estate firm. Following are the basic procedures of starting a commercial real estate firm.
Learn about the sector
Getting educated is the first step in launching a commercial property firm. Learn the ins and outs of the industry by taking classes, reading books, and attending seminars. It’s crucial to familiarise yourself with the neighborhood market as well as the rules and laws that apply to the sector. Building a network of contacts in the sector, particularly those with lenders, brokers, and other investors, is also crucial.
Create a corporate plan
You must write a business strategy once you have the required information and connections. This should contain a thorough outline of the services you want to provide, a marketing plan, and a financial plan.
Before you begin, take some time to evaluate and order your long-term goals. Think about where you want to be in 10 years as a starting point. Plan further urgent steps to get you there next. The importance of this technique cannot be overstated.
Organize your finances
Although there are several options to invest in property without making a down payment, you should still first evaluate your financial status. When you approach a lender, they could question you for specifics about your financial history. Before you invest, check any credit lines or assets you may have.
Get the license
Polish law Places Strict Restrictions on the Provision of Estate Agency Services. Felony penalties are applied to offenders. Hire a competent lawyer to assist you in establishing your property business in a secure location. For you to be able to legally work in the country, you must obtain the required permissions and licenses. Any foreign realtor who wishes to conduct business in the country must first obtain a residency visa.
Register your business
After all of your planning, it is now time to register your firm. Although alternative organizational models for property companies are available, the limited liability business is the most typical in this circumstance. Through the structure, investors can acquire and own real estate without taking any unnecessary risks. All conditions and costs associated with incorporating an LLC must be met before mailing the request form. The applicant must submit their financial records, tax information, and company and owner details in addition to the application.
Commence marketing
Running a successful real estate business requires a solid marketing strategy. You may stand out from the competition with a solid marketing strategy. At this point, a logo, guidelines, and slogan can all be selected. These components will serve as a springboard for your marketing materials and serve as a manual for your interactions with prospective customers.
Starting a commercial real estate business can be a complex process, but with the right preparation and resources, anyone can do it. With the right education, contacts, and corporate plan, you can be on your way to running a successful commercial property firm.
