Krakow is one of the oldest cities in Poland, traditionally a cultural, scientific and artistic base. The history of Krakow stretches back for more than 1,000 years, and it was the base for the first Polish kings as well as being the former national capital. This long history is reflected in Krakow's diverse architectural heritage. It has a formidably stunning Old Town, which is home to around 6,000 historical buildings and two million works of art. Styles include renaissance, Gothic and Baroque, while many visitors are dazzled by the stunning stained glass windows, paintings and sculptures that speckle the central areas. Must-sees in Krakow include the main Market Square, St Mary's Basilica and the Royal Castle.

One of the most appealing aspects of Krakow architecture is the blend of colours. Unlike British towns, which are mainly built with similarly-coloured bricks, Krakow is a riot of faded pastels, bright reds and vibrant greens. It's a feast for the eye – but this comes, literally, at a price. Property in Krakow is far more expensive than in the Polish capital, Warsaw, which is the industrial and commercial rather than cultural centre of Poland and which has experienced much more new property building over the last few years. In Krakow you are unlikely to find a studio apartment for under £50,000.

Property regulations in Krakow are also understandably restrictive. Property renovations are strictly overseen, and rules over where you can build are strongly enforced. For this reason, the best property investments in Krakow may be restored central apartments, which are likely to continue to hold their value as well as being good buy-to-let prospects.

Warsaw, less architecturally impressive than Krakow but more of a 'working' city, has been tipped by some experts as the better property investment prospect. It is better known for its pioneering skyscrapers and its 1930s architecture than for its historic buildings, but it is peopled with wealthy city workers who are driving property prices up. There are a number of new build property developments in central areas of Warsaw, which may prove to be profitable investments. In Warsaw property prices start at £40,000 for a one-bedroom apartment. 

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Article published in July 2007