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Growth on the market of historical properties

Last year was a good period for the domestic market of historical properties. More than 20 transactions concerning historical buildings were concluded. The value of these contracts amounted to almost 80 million zlotys.

According to data of Cenatorium, 244 purchase and sales transactions have been concluded on the market of historical properties since 2004. The annual average value of the market amounts to about 75 million zlotys. The exception is 2013 when it amounted to about 90 million zlotys. Branicki Palace in Warsaw was sold in that time for 40.5 million zlotys.

 

In 2015 another transaction was concluded, i.e. Szaniawskich Palace situated also at Miodowa Street. The value of the contract amounted slightly more than 21 million zlotys – says CEO of Cenatorium Mariusz Kurzac during the talk with news organization Newseria. 20 transactions with the value of 75-80 million zlotys were concluded last year whereas in 2014 – two less. According to analysts of Cenatorium, this year is also believed to be successful.

 

Investors are most interested in palaces and manor houses, especially those located in Lower Silesia and in the neighborhood of Bydgoszcz. Castles, in turn, are sold less frequently – only 11 transactions concerning such properties have been concluded since 2004. A greater risk is noticeable in this case. Castles are often under the aegis of a preservationist with whom a strict cooperation is required and thus the expenses are definitely higher – says the expert. Palace parks with a good structure, however, give a chance for return – adds.

 

The group of investors deciding on purchase of historical structures includes affluent private persons, companies and institutions which often benefit from EU funds. On the one hand, some of them buy historical properties for pleasure. On the other hand, they want to start a hotel business or SPA. Hotel industry is in much better situation than couple of years ago and it is believed to be a good business – says Mariusz Kurzac.

 

At present, there are about 10 thousand historical properties in the country. Manor houses definitely dominate. Prices for such buildings amount to from several hundred zlotys per sq. m to even several thousand depending on their condition.  

 


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