Population38.63 million persons
Land Area304,510 sq km
Currency & exchange rate1 zlotych (Z1$) = 100 groszy

(~ 0.143 GBP)

GDP-PPPMethod271,945.0 millions of US dollars
GDP Growth1.03%
GDP Per Head7,039.0 Thousands of US Dollars Per Person
FinancialInterest RateInflation Rate
National BankNational Bank of Poland
PoliticalThe new constitution that came into force in October 1997, the legislative power in Poland is vested in a bicameral national assembly consisting of a 460-seat lower assembly and 100-seat upper assembly. Elections are by proportional representation.

The Democratic left (SLD) won most seats during the last elections of September 2001, but was did not gain a significant majority. The current Parliament is a coalition government consisting of the SLD, UP and PSL. On March 1st 2004, the PSL left the government, leaving the SLD to have major control. Only a day after EU accession, Prime Minister Miller resigned and the former finance minister Marek Belka was nominated to succeed him

Belka has asked Parliament for a year to prove himself and must win a vote of confidence in parliament to retain his post. In June 2004 he believed he could gather enough support to be confirmed in his position and is currently acting as caretaker Prime Minister.

President Kwasniewski has appointed Marek Belka as the new Prime Minister. Belka must win a vote of confidence in Parliament to retain this Post.

Social SecurityYes
CustomariesThe Polish are friendly, hard-working people and are very pleasant when meeting foreigners. However, one should take note that there are vast differences between traditions and practices between people in the cities such as Krakow and the little rural villages. Catholicism plays an integral part of everyday life. Shaking hands upon meeting a person is the norm. Smoking is restricted in some public buildings. You should also note that taking photographs of military installations could land you in trouble.
Ethnic Make-up
TaxIncome TaxCapital Gains Tax
Non residents are subject to a final withholding tax of 20% on fees received for membership on management boards, commission, service and management contracts, interest, copyrights, trademarks, designs and know-how.

Taxable income (PLN)Tax on lower amountRate on excess
Exceeding (PLN)Not exceeding (PLN)(PLN)%
Taxed at a flat rate of 10%
Description A return to the socialist led government does not seem to have the potential to disturb the future of a vibrant Polish economy. However, market reforms and general reform attempts have caused some social disruption and persistently high unemployment rates, currently at around 18% and rising.

On a historical note, Poland was the first country in the central bloc to regain the levels of GDP that it had enjoyed before the fall of communism.

It’s major industries are Machine building, iron and steel, coal, shipbuilding, glass, beverages, chemicals, textiles and food processing. Its major trading partners are Germany, Italy, the Netherlands, Russia, Ukraine France and the UK.

Public finance reform is important for Poland’s long-term economic outlook. A new initiative proposed earlier this year called the ‘Hausner Plan’ sets to rationalise public finances and cutting social spending.













Investor Profile:Cash & Equity Investor

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734,400 (2002)8,000
Climate:Hours of Sunshine Per Day in SummerDays of Rain Per YearJanuaryJulyAverage

Water Temp.

Seven450mm per year0C/33F21C/71FN/a
Proximity to:AirportBeachNearest City
Krakow’s John Paul II International Airport of Balice is situated conveniently on the outskirts of the city, just 15 km (about ten miles) from its centre,N/aKatowice
Restaurants and bars:There is no shortage of places to drink, eat, and stay merry late into the night in Krakow. Notably, the huge central Grand Square in the heart of the historic Old Town district and its environs look like they never sleep, at least most of the year save winter. And recently trendy new hangouts are launched also in the nearby Kazimierz quarter almost by the month.

Krakow has always been Poland’s gourmet Mecca. And the recent decade brought about a genuine restaurant explosion all over the city owing to the hectic efforts of aspiring restaurateurs, native ones as well as immigrants

Sports and leisure facilities:Sadly, sport activity is not the routine of an average Krakow dweller. The city abounds in fine jogging paths but few natives take advantage of it. Also bikeways crisscrossing metropolitan Krakow and its environs seem underused despite the city’s vocal group of ardent cyclists. So, hiking remains the most popular outdoor activity, and no wonder seeing that the Krakow region is famous for the beauty.

Hunting and fishing are centuries-sanctioned sports in Poland. And both–especially the latter–retain considerable following in Krakow

Transport:Public TransportRoads
Krakow is one of Poland’s main railroad junctions. Five trunk lines connect the city with the world. Its central Krakow Glowny station is situated most conveniently in the very city centre, close to the Old Town historic district.

Expresses run also to all major cities in Poland. Notably, most convenient is the shuttle express service to and from capital Warsaw where the 300-km trip takes two hours and half or so.

In addition to this, arrive expresses from Germany’s Berlin, Dresden, Frankfurt and Leipzig, Austria’s Vienna, the Czech Republic’s Prague, Hungary’s Budapest, Rumania’s Bucharest, Slovakia’s Bratislava and Kosice, Ukraine’s Kiev, Lvov and Odessa.

With the city’s abundant road connections, no other major city in Poland can boast better accessibility from abroad. Krakow lies at one of key European crossroads, en route from the West via Germany to the East via Ukraine and from Scandinavia to the Mediterranean via Austria.


Within Poland bus companies compete fiercely on the most popular routes. And in the Krakow region minibus services have become the chief means of commuting apart from car.

Crime rate:Poland is generally safer than most European countries, east or west. And Krakow is safer than other major cities in Poland. Petty crime seems pretty common in the city and whereas mugging remains sporadic, pilfering is rampant.
Main types of employmentKrakow is Poland’s fourth biggest manufacturing centre, with steel, tobacco and pharmaceuticals being the key industries. At the same time the city is second only to the capital Warsaw as regards the service sector.
Future plans:Poland’s labour costs stay at a third of Germany’s, and the country boasts a sizeable and fast-expanding internal market, enjoys a healthy GDP growth, and remains a model of political and economic stability in the region. With much foreign investors already (and investors flocking from across Europe after EU accession): from multinationals to fairly small enterprises, Krakow appears a particularly good place with some 8.5 million people living within a radius of 100 km. And the city is situated at Europe’s crucial crossroads between Germany and Ukraine and between Scandinavia and the south of the continent.
Yield range6 – 8%
Type of propertyEntry Price Rent-



Off Peak

Average Annual Yield
2 bed apartment£22,000 £150£1408%
3 bed apartment£34,000 £240£1907.7%
3 bed townhouse£33,000 £240£1908%
Detached£50,000 £290£2506.5%

Demand for letting

PeakOff peak
Finance and leisure scores:Total (out of 10)Financial (out of 5)Leisure (out of 5)
Flights scheduled from:Most major cities throughout the UK. Some smaller airlines from regional airports.
Typical cost of flights:PeakOff Peak
£100 - £230£80 - £170
Operators:Austrian Airlines, British Airways, British Midland Airways, Lufthansa, and Malev fly passengers to Krakow besides the Polish national carrier LOT.
Description:Krakow is Poland’s capital of culture. The city boasts the best museums in the country and some best theatres. It counts two Nobel Prize winners in literature among its residents. It is also home to one of the world’s oldest and most distinguished universities. No wonder Krakow was named a European City of Culture in 2000.

Entry prices are low and there’s lots to do here.  There’s a vibrancy to this area and you’ll have no problem letting your place to those young city professionals.  The list of airlines flying to this area is growing month by month and flight prices are falling.  I reckon Easyjet and Rynair will be flying here soon.  This will increase demand for these properties I’m sure.  Above average capital gain is likely.

 Estate Agents:NameAddressTelWeb
 Firma Kontrakty Nieruchomosci Plac Wolnica 9, 31- 060 Krakow, Poland(+48 12)

 Inwestycje Finanse NieruchomościKatarzyna TurekMorawskiego 10/1A, 30-102 Krakow,

 Ober-Haus real estate agency  ul.Slawkowska 6, 31-014 Krakow, Poland


ul.Wadowicka 6, 30-415 Krakow, Poland

(+4812) 4281700


(+4812) 2679100
 Anna Kubacka Nieruchomości ul.Krakowska 7/11, 31-062 Kraków, Poland (+4812)
 Letting Agents: NameAddress TelWeb
 Firma Kontrakty Nieruchomosci Plac Wolnica 9, 31- 060 Krakow, Poland(+48 12)

 Inwestycje Finanse NieruchomościKatarzyna TurekMorawskiego 10/1A, 30-102 Krakow,