Case study · Ursus, Warsaw · Client from Germany

Buying, finishing and renting
out a garden apartment in Ursus.

A client based in Germany wanted an investment apartment in Warsaw that could be bought, finished and rented out without requiring his ongoing presence in Poland. Warsaw Investor Care ran the entire process — the client only travelled to Warsaw once, to sign the notarial deed.

Purchase price: 810,000 PLN (apartment + garage) Size: 51 m² + ~20 m² garden Gross yield: ~5.05% per year
Ursus, Warsaw Primary market · developer condition Ground floor with ~20 m² garden Underground garage included

A client based in Germany was looking for an investment apartment in Warsaw that could be purchased, finished and rented out without requiring his constant presence in Poland. Warsaw Investor Care took over the entire process. The client travelled to Warsaw only to sign the notarial deed — every other step, including property analysis, negotiation, legal support, coordination of the fit-out, furnishing and finding a tenant, was carried out on his behalf.

We selected a 51 m² apartment in Ursus, bought on the primary market directly from the developer in shell ("developer") condition. The unit is on the ground floor, with its own garden of around 20 m² and an underground garage space included in the deal. The layout — living room, separate kitchen, bedroom, dressing room and bathroom — together with the garden makes the apartment attractive both to couples and to tenants planning a longer stay in Warsaw.

The combined asking price for the apartment and the garage was 866,000 PLN. After negotiation, the final purchase price for both came to 810,000 PLN, saving the client 56,000 PLN — a reduction of around 6.5% against the original asking price, with the garage included in the deal at no extra cost.

Purchase price
810,000 PLN
apartment + garage · from 866,000 PLN asking
Size
51 m²
+ ~20 m² private garden
Finishing cost
137,700 PLN
~2,700 PLN/m² · full turnkey fit-out
Rent after completion
4,200 PLN/mo
+ 750 PLN/mo service charge
Starting point

Client goal

A remote investment, with the client's presence required only for the notarial signing.

The client lived permanently in Germany and was looking for an investment apartment in Warsaw that could be bought, finished and rented out without needing his ongoing presence in Poland. He needed a local partner able to take responsibility for the entire process — from property analysis and negotiation, through legal formalities, to fit-out, furnishing and finding a tenant.

The only stage that required him to travel to Warsaw was signing the notarial deed. Everything before and after that — negotiation, legal coordination, translations, developer handover, fit-out planning, contractor supervision and furnishing — was handled entirely by Warsaw Investor Care.

The client's starting point

A foreign investor based in Germany, one required trip to Warsaw for the notarial signing, and a clear goal: a complete, rental-ready investment product delivered from a raw developer shell.

The property

A ground-floor apartment with its own garden

Primary-market purchase in developer condition, with a garage included in the negotiated price.

Parameter Details
Location Ursus, Warsaw
Size 51 m²
Market Primary market
Condition at purchase Developer (shell) condition
Floor Ground floor
Garden ~20 m²
Parking Underground garage
Layout Living room, separate kitchen, bedroom, dressing room, bathroom

The layout and the private garden make the apartment attractive to two distinct tenant profiles: couples looking for a self-contained home with outdoor space, and tenants planning a longer stay in Warsaw who value a garden over a balcony. Being on the ground floor also removed one of the more common objections in the district — no lift, no stairs, direct access to outdoor space.

Process

Our work

From negotiation and notarial coordination, through developer handover and turnkey fit-out, to furnishing and tenant sourcing.

Warsaw Investor Care guided the client through the entire investment process, from the first property analysis to the signed rental agreement. Because the apartment was bought on the primary market in developer condition, the scope went beyond a typical renovation — it included planning the full interior layout and finishing standard from scratch.

01

Property analysis and negotiation

Negotiated the combined price of the apartment and garage down from 866,000 PLN to 810,000 PLN — a 6.5% reduction, with the garage included at no extra cost.

02

Legal, notarial and translation coordination

Coordinated legal support for a foreign buyer, notarial procedure, a translator for the signing itself and translation of documents — the client's only trip to Warsaw was for the notarial deed.

03

Developer handover and fit-out planning

Managed the handover of the apartment from the developer and planned the functional layout and finishing standard for a rental-ready product.

04

Turnkey renovation and furnishing

Supervised contractors, ordered a made-to-measure kitchen and wardrobes, and purchased free-standing furniture and appliances.

05

Rental preparation and ongoing management

Presented the finished apartment to prospective tenants, selected a tenant, signed the rental agreement, and continues to manage the property.

Investment data

Key numbers

The full breakdown of the purchase, negotiation and finishing costs for this investment.

Parameter Value
Asking price — apartment 816,000 PLN
Asking price — garage 50,000 PLN
Total asking price 866,000 PLN
Purchase price — apartment + garage 810,000 PLN
Total savings after negotiation 56,000 PLN
Price reduction ~6.5%
Apartment size 51 m²
Garden ~20 m²
Finishing cost per m² 2,700 PLN
Total finishing cost 137,700 PLN
Rent after completion 4,200 PLN per month
Service charge (paid separately) 750 PLN per month
Total monthly tenant payment 4,950 PLN
Turnkey finishing scope

The 2,700 PLN/m² finishing cost covered the complete functional design, all finishing works, flooring, doors and lighting, the bathroom fit-out, a made-to-measure kitchen, wardrobes and built-in storage, free-standing furniture, appliances and the equipment needed to start renting the apartment out immediately.

Financial result

Investment outcome

The full cost of launching the investment, and the resulting annual rental yield.

Beyond the purchase and finishing costs, launching the investment involved a number of smaller line items — legal support, translations, notarial and land registry costs, the agency fee and preparing the first rental. Because the apartment was bought on the primary market, no PCC transfer tax applied — see our full breakdown of Warsaw purchase costs for how primary and secondary market transactions typically differ.

Cost item Amount
Apartment + garage purchase 810,000 PLN
Finishing and complete furnishing 137,700 PLN
Warsaw Investor Care service fee (3.5% net) 28,350 PLN net / 34,870.50 PLN gross
Legal service 4,000 PLN net / 4,920 PLN gross
Translator during the notarial signing 400 PLN
Document translation 1,000 PLN
Apartment insurance 400 PLN
Notary and land register entries ~2,600 PLN
Rental preparation and tenant sourcing 4,200 PLN net / 5,166 PLN gross
PCC transfer tax Not applicable (primary market)
Total investment launch cost 997,056.50 PLN

Once the apartment was finished, it was placed on the long-term rental market at 4,200 PLN per month plus a 750 PLN service charge, paid separately by the tenant and passed through in full — it does not form part of the owner's income.

Annual result

Ursus, Warsaw · 51 m² + garden and garage · client from Germany

Annual rental income 50,400 PLN
Flat-rate tax (8.5%) –4,284 PLN
Property management (350 PLN/month) –4,200 PLN
Annual insurance –400 PLN
Estimated net annual income 41,516 PLN
Average monthly owner income ~3,460 PLN
Gross yield ~5.05% per year
Net yield (after tax, management, insurance) ~4.16% per year
What this calculation does not include

These figures do not account for any future increase in the apartment's market value or future rent increases over the holding period — they reflect the launch-year rental result only.

Service scope

Warsaw Investor Care's scope on this project

Full-service coordination from property analysis to ongoing management, with the client's own involvement limited to the notarial signing.

  • Analysis of the apartment and purchase conditions
  • Negotiation of the price and the garage space
  • Coordination of legal support
  • Organisation of translations
  • Preparation of the notarial transaction
  • Handover of the apartment from the developer
  • Planning the layout and finishing standard
  • Supervision of contractors
  • Ordering the made-to-measure kitchen and wardrobes
  • Purchasing furniture and equipment
  • Preparing the apartment for rental
  • Property viewings and tenant selection
  • Signing the rental agreement
  • Ongoing property management
Summary

Result

A complete investment property delivered from a raw developer shell — despite the client living permanently in Germany.

The client completed a full investment in Warsaw despite living permanently in Germany. His personal presence was required only for signing the notarial deed — every other stage, from negotiating the purchase, through finishing the apartment, to finding a tenant, was carried out by Warsaw Investor Care.

Why this project matters

The result is a fully furnished apartment with its own garden and garage, rented out for 4,200 PLN per month and set up for ongoing long-term management. It shows what full-service delivery looks like on a primary-market purchase — not just buying a shell apartment, but turning it into a working rental product without the owner needing to manage a single contractor.

FAQ

Questions about this type of project

The most common questions foreign clients ask about buying and finishing a primary-market apartment in Warsaw.

Do I need to be present in Poland for a primary-market purchase?

In this project, the client's presence was required only once — to sign the notarial deed. Every other stage, including negotiation, legal formalities, developer handover, fit-out and finding a tenant, was coordinated remotely by Warsaw Investor Care.

What does "developer condition" mean, and what has to happen after handover?

Developer condition means the apartment is handed over as a finished shell — walls, floor screed and basic installations, but no flooring, kitchen, internal doors, lighting or furniture. In this project, everything from the functional layout to the final furnishing was planned and delivered as part of the turnkey fit-out.

Does a primary-market purchase involve PCC transfer tax?

No. Unlike resale purchases, primary-market apartments bought directly from a developer are not subject to the 2% PCC transfer tax, which is one of the cost differences reflected in this project's investment breakdown. See our full cost guide for a side-by-side comparison with secondary-market purchases.

What return can I expect from a garden apartment with a garage in Ursus?

In this project, the gross yield came to around 5.05% per year, and around 4.16% per year after tax, management and insurance. Actual yield depends on location, finishing standard, achievable rent and the specific cost structure of each project.

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This case study describes a real project completed by Warsaw Investor Care. Figures and values shown are indicative for the purpose of presenting the project and do not constitute an offer or investment, tax or legal advice.

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