The boom in the Polish residential market continues. According to REAS consultancy, another record was set in the second quarter of 2015 for the number of apartments sold in the six largest regional markets . The number of transactions soared by 11 percent compared to the previous quarter.
Developers are taking advantage of high demand to launch more projects, which keeps the supply at a constant level. Analysts agree that such a favourable market situation is the result of stability and predictability when it comes to the sphere of legal conditions. This balance, however, can be upset – struggling to get the best possible result in the upcoming parliamentary elections, the ruling party has rushed through two laws that could have a big impact on the residential market. The first one has expanded the “Apartment for the Young” mortgage subsidy program to the secondary market, the other one has made it possible to convert franc-denominated loans into zloty on fairly favourable terms for borrowers. It is still unclear whether the planned amendments to the act on the protection of the rights of buyers will eliminate open escrow accounts, which could have a huge impact on the developer market. Another question mark hangs over the so-called small amendment to the law on spatial planning and development, which could drastically reduce the application of decisions on development conditions.
How long will such high sales continue? How will the planned legal changes impact the market? What will the housing policy of the new government be? What long-term effect will migration movements have on the residential sector? Participants in the 9. edition of the “Polish Residential Market” conference, to take place on 21-22 October at the Hilton Hotel in Warsaw, will look for answers to these and other questions. The conferences in the PRM series are the largest and most prestigious meetings for the Polish residential property market. Each event attracts nearly 300 major players in the sector – developers, banks, real estate agencies, financial intermediaries and market analysts. The conference programme is designed in such a way as to reflect the most important and pressing problems of the market and suggest solutions to them. Nearly 50 renowned market experts – experienced specialists, analysts and industry journalists – take part in the discussion panels, presentations and lectures. This year’s conference will kick off with a lecture by well-known sociologist, professor Janusz Czapiński, titled “A friendly city, or what?”. During both days of the conference, its participants will have the opportunity to share experiences, establish new business contacts and catch up with the latest trends in the market. Thanks to the special program Match Maker, it will be possible to arrange individual meetings with any of the conference participants.
You can find more information about the conference and its detailed programme here: