Investments in condo-hotels in Poland have seen rising interest in recent years, mainly due to the potential for passive income. Our investors can expect annual returns at the level of 8%, indexed to inflation. It is an attractive alternative to bank deposits or renting out an apartment on your own.

Yes. The investor acquires ownership of the apartment and can both earn income from letting it and use it personally during specified periods. Typically, owner-stay entitlement ranges from 7 to 14 days per year, sometimes longer.

For most of the year, the apartment is usually rented to hotel guests. Thanks to the owner-stay option, the buyer can use the unit during periods defined in the lease agreement. In other words, the investor has the right to personal use in designated time slots – this is the “owner stay.
The detailed terms for owner stays are set out in the lease agreements and specify the dates and periods in which the apartment may be used.
Some developers exclude owner stays during peak seasons – such as summer holidays, winter breaks and long weekends – when hotel occupancy is highest.

The property is managed by an experienced operator specializing exclusively in the condohotel model. The investment consists of purchasing a fully finished and furnished apartment with a separate land and mortgage register, and simultaneously signing a lease agreement before a notary.
The agreement is made for 10 years with an option to extend for a further 5 years, ensuring fully hands-off ownership – the Operator covers all costs related to operation, repairs, upgrades, utilities, cleaning and common charges.
The investor receives a fixed annual return of 8%, calculated on the entire invested amount. Moreover, this return is indexed each year by the average annual inflation rate, and its amount does not depend on the property’s actual occupancy. The investor bears only two costs: property tax and unit insurance. An additional advantage is the option of a 14-day owner stay each year.

The owner’s running costs are minimal and limited to two items only. The first is property insurance, paid once a year. The second is the annual property tax.
Beyond these two charges, the investor does not incur any additional costs related to the unit’s operation, which makes this form of investment particularly convenient and financially predictable.

Yes. The 23% VAT can – and in our view should – be deducted in full. When purchasing a hotel apartment and simultaneously entering into a lease agreement with a professional operator who will manage the property, you have full entitlement to apply to the Tax Office for a refund of the entire VAT amount.
Importantly, the ability to deduct VAT does not depend on whether the purchase is made through a company or as a private individual. In the case of a purchase “in your own name” (without running a business), it is necessary first to register with your Tax Office as an active VAT taxpayer. This procedure carries no costs and does not require establishing a company. You simply file the VAT-R form, which is a necessary condition for recovering the tax.

Like any hotel, a condohotel must meet a range of formal requirements to operate legally. These include:

• Building permit – required at the planning and construction stages. A prerequisite for commencing works.
• Land and Mortgage Register – a separate entry (księga wieczysta) established for the specific property, confirming ownership, encumbrances and other entries reflecting its legal status.
• Other documentation – approvals from the correct authorities, technical documentation, environmental permits, concessions/licences and, where applicable, permits to conduct hotel operations.

To verify whether a given condohotel holds all necessary documents, it is best to contact the developer, who should have current permits and documentation. You can also verify this with the relevant public offices (e.g., the architecture/building and geodesy departments of the city office or the county office – starostwo powiatowe).

Despite its investment nature, a condohotel unit can be freely sold – it trades on the secondary market much like a conventional apartment. The key difference is that the new owner steps into the rights and obligations arising from the existing lease agreement with the property’s operator. This preserves continuity of cooperation and rental stability.
We specialize in secondary market sales. The process is flexible, and we help to work out solutions that satisfy both the seller and the buyer.
The sale price is usually derived from the expected return on investment. In practice, owners often benchmark the property’s value against the annual inflows from rent.