Legislative changes scheduled to take effect in 2026 are likely to impact residential supply and prices, as well as development costs. Trends Radar, a report by global real estate services firm Cushman & Wakefield, explores the potential implications of these changes and examines the state of the Polish market in the run-up to 2026.
Both the Act on Civil Protection and the planning reform are necessary changes, but keeping investors in limbo until almost the very end as to the final shape of these regulations creates significant challenges for them. The spatial planning reform, scheduled to come into force in mid-2026, is likely to affect future supply and shape residential market dynamics for years to come,”
comments Karolina Furmańska, Associate, Living Sector, Cushman & Wakefield.
On the one hand, the intentions of lawmakers are sound. The Zoning Act of 2003 was far from perfect and it is clear that we need greater spatial order, as urban sprawl costs us a fortune every year. On the other hand, the changes are being introduced haphazardly and are difficult even for professionals to follow. In the worst-case scenario, by patching up another hole, we may end up in a situation similar to that 20 years ago – making only minimal improvements while risking making things worse, with changes that could be very costly,”
says Karolina Furmańska.
Residential prices have stabilised, but pressure is likely to return
Given falling interest rates, a large number of units on offer, stable supply and continuously rising wages, the loan market is expected to rebound further,”
adds Karolina Furmańska.
PRS and PBSA: segments in a transitional phase
A similar growth story is being seen in the PBSA sector. Poland’s student population has increased to more than 1.28 million, including 108,600 international students. Private and university-owned halls of residence can accommodate just 10% of total student demand, which is driving investor interest. Announced projects are expected to deliver another 8,000 beds in private halls over the next two to four years – still a drop in the ocean relative to needs,”
comments Karolina Furmańska.
Structural trends and demographics
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In 2024, the firm reported revenue of $9.4 billion across its core service lines of Services, Leasing, Capital markets, and Valuation and other. Built around the belief that Better never settles, the firm receives numerous industry and business accolades for its award-winning culture. For additional information, visit www.cushmanwakefield.com.