The Mlyn Lofts development (Lofty w Młynie)

sobota, 26 czerwca 2010

The Mlyn Lofts development (Lofty w Młynie)

Lofts - this investment is so different from everything we know in Krakow so far. It's an adaptation of an old building of the former mill in Cracow Zablocie. There is a mixture of architectural details like brick, spartan finishing of certain elements such walls or ceilings mixed with modern glass, installed an elevator. At first glance the building is impressive, it is very modern in fact.
End of construction: 2010

The developer: Krakow Lofts Sp. z o.o.

Official developer's website: Lofty w Młynie

Location: Kraków, Zabłocie Street no25

Building has one main entrance (in the entrance hall it has been retained an elements from the old mill - it looks like a sculpture.)

See the location map:

Wyświetl większą mapę

- 57 flats ranging from 44 sq.m studio to penthouse of 215 sq m
- Unique architecture, high ceilings
- Close distance to the Vistula River, 10 minutes from Kazimierz, next to the bridge Kotlarski
- 24 hour security (reception)
- Public green terrace at the roof
- Balcony or terrace to every apartment

- Parking in front of the building and additional underground one

Lofts are not a popular type of real estate in Krakow. Krakow has never been an industrial city such as Łódź where this type of buildings are much more common. Krakow Zabłocie and this part of Podgorze District was famous as industrial district. A plus is the fact that this district is changing, and a revitalization of such investments as Lofts in the Mill and Garden Residence transforms its character. Unfortunately this process happens too slowly. The trend, however, is predictable, Podgorze will change its face sooner or later, just as it happened in Kazimierz.

Lofts are an example of the connection of the new architecture with old elements - the apartments with unique atmosphere (such apartments are for people who appreciate this difference and the violation of certain rules and forms.) It is a combination of old and new, mixture of modern buildings and old town house - it's like a modern apartment installed in the form of an old house with high ceilings, doors, large windows, etc. Some people will be impressed but I am aware that not everyone will like it. The only thing that bothers me personally is that in Western Europe in this type of buildings there is one or only a few apartments with large surfaces and spaces. These big apartments with lots of space are for me the synonymous of loft. Here in Krakow the developer arranged more than 50 dwellings in the building - the reason is simple, I suspect that nobody would buy a loft in Krakow of size of 400 square meters - it would cost a fortune!

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First steps

HOW TO BUY PROPERTY IN POLAND

The ownership of property in Poland is secured, by a state authority called simply Registry of mortgages. In Krakow it is Regional Court for Krakow Podgórze Land and Mortgage Register Department (Sąd Wieczystoksięgowy dla Krakowa Podgórza) Titles to property i.e. Lend Registers (Ksiegi Wieczyste) are kept there, where all encumbrances on properties are registered. Property is filed under the names of the owners and every Lend Register has got its individual or number. A title search is performed in order to find out if there are any claims, liens and encumbrances on the property. A title search also shows if the property was properly transferred. This is always done during the contracts process.

The only way to buy a property in Poland is to sign a property purchase agreement in the presence of public notary. A public notary must be appointed since any property purchase agreement, in order to be valid, must be done in the presence of a public notary. The public notary does not represent the interests of the Buyer or Seller. (S)he is a public official in the presence of whom the contract is read, understood by both parties and signed. The notary drafts the contract and is responsible for the verification and registration of the transaction in the public records, so that the buyer acquires the official title of the property.

The contract is drawn up only in Polish language in one original that always remains at the notary’s file, an official copy which is registered at the register office and the purchaser receives as many copies as he/she wants paying the proportional fee. If the purchaser is the foreigner and does not speak Polish, he/she has to name a translator who takes an oath and translates orally word by word the contract from Polish to the foreigner language. At the end of the contract the translator declares that he/she translated rightly and comprehended completely quoted in the contract the foreigner purchaser and signs for this at the contract.

The parties sign only the prototype contract.

CONTRACTS STRUCTURE AND CONTENT

Each contract has a concrete number given by the Notary and a composition date.

Report of the detail elements of the contracting parties, full names, father names, mother names, I. D. numbers, tax registration numbers, addresses.

The real estate is described in details (extent, limits, borders) and reports the Topographer of Engineers elements mentioned at the topographic diagram. At this point all the previous acts, titles of property, contract numbers and registration numbers at the register office are mentioned.

Afterwards, is reported the vendors statement, that sells the real estate and is described the price, the terms and the conditions of settlement of price in case it is not paid off immediately during the signature of contracts.

The vendor guarantees that the sold of real estate has no debts.

Thereupon, the buyer undertakes the vendor’s real estate and the vendor resigns from any rescission right.

Finally the notary certifies that the transaction takes place according the law, and reports in brief the relative laws and the certain formal statements of the contracting parties. There are also mentioned fees and tax connected with buying the property.

PURCHASERS EXPENSES

The purchaser must pay for the following expenses:

1. The transfer tax (civil tax) is 2% on the objective price mentioned in the contract.

2. The notary’s fee is about calculated on the deed of purchase mentioned price.

3. The estate agent’s fee depends on the agreement among the estate agent and the purchaser

4. The registration at the register office is 200 Polish zloty.

Totally the final cost could range from 5 to 7 % of the value of the property