Review, trends and outlook for PRS market in Poland.

The only report with in-depth analysis of the PRS market in Poland from a tax, legal and commercial perspective.

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RE:PRS

2023

PRS sector becomes a natural choice for investors.

The predictions of real estate experts regarding the growing potential of the living sector in Europe have been confirmed. Alongside offices, logistics and retail, this sector is now cited by investors as the most attractive. This is further confirmed by the results of a Knight Frank survey of 44 institutional investors active in the living sector in Europe, managing EUR 70 billion worth of residential assets across the continent. Analysis of the responses shows that respondents collectively plan to invest an additional €151 billion in the living sector in Europe by 2027, a projected increase of 115% on the €70 billion invested to date.

Poland, it should be noted, will be an increasing beneficiary of this trend. Investors recognise both the undisputed potential of the PRS sector and the country’s significant housing shortage, which is estimated at around 800,000 units. The current economic and political reality, and in particular the war in Ukraine, forms part of a wider discussion about the market situation in Poland, although it poses no obstacle for investors. The strong demand for rental housing in the largest cities is unprecedented, and the dynamic growth in rents in Poland is allowing increasingly high returns to be realised.


The latest edition of the report on the PRS market in Poland prepared by Knight Frank and Dentons analyses the macroeconomic situation, the real estate market, and the legal and tax environment. In addition, it sets out the results of a survey conducted among investors and developers active in the PRS sector and banks financing these investments. As a whole, it paints a clear picture and reveals the potential of this market in Poland – a market whose attractiveness will only continue to grow.

Over 80% of surveyed investors plan to acquire new projects in 2023.

80%

70%

Of surveyed respondents expect an increase in PRS opportunities
in Poland in 2023.

3%

PRS vacancy rate.

50%

In 2022, the number of mortgages decreased by 50% compared to 2021.

40%

In 2022, the PRS stock increased by 40%.

800.000

Housing deficit in Poland.

PRIVATE RENTED SECTORIN POLAND


OUTLOOK AND MARKET TRENDS


PRS SECTOR - BUSINESS ENVIRONMENT & RATIONALE FOR FURTHER DEVELOPMENT


INVESTMENT IN THE LIVING SECTOR


FINANCING & TRANSACTION STRUCTURES


THE BAROMETER OF SENTIMENT


PRS FROM INVESTORS’ PERSPECTIVE

TRANSACTIONS ON THE PRS MARKET


ZONNING ISSUES


RESIDENTIAL RENTAL AGREEMENTS


TAX ASPECTS OF PURCHASING RESIDENTIAL REAL ESTATE IN POLAND

MANAGING PARTNER

HEAD OF CAPITAL MARKETS


E: krzysztof.cipiur@pl.knightfrank.com

KRZYSZTOF CIPIUR

PARTNER

REAL ESTATE


E: piotr.staniszewski@dentons.com

PIOTR STANISZEWSKI

SYLWIA JANKOWSKA

TOMASZ KRASOWSKI

INVESTMENT BROKER

CAPITAL MARKETS


E: sylwia.jankowska@pl.knightfrank.com

MANAGING COUNSEL

ZESPÓŁ PRAWA PODATKOWEGO


E: tomasz.krasowski@dentons.com

ul. Mokotowska 49

00-542 Warsaw

Poland

Knight Frank LLP is the leading independent global property consultancy. Headquartered in London, Knight Frank has more than 20,000 people operating from 487 offices across 52 territories. The Group advises clients ranging from individual owners and buyers to major developers, investors and corporate tenants.



www.knightfrank.com

Dentons is the world's largest law firm, connecting top-tier talent to the world's challenges and opportunities with 20,000 professionals including 12,000 lawyers, in more than 200 locations, in more than 80 countries. Dentons' polycentric and purpose-driven approach, commitment to inclusion and diversity, and award-winning client service challenge the status quo to advance client interests.


www.dentons.com

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00-351 Warsaw

Poland