On 2 July 2019 the president of Poland signed an amendment to the Act on National Property. The changes to the law have important implications for the application of the Act on Real Estate Management of August 21st 1997 and the Construction Law of July 7th 1994. The legal changes to the Real Estate Management Act and the Construction Law will enter into force in 30 days from their publication. The main change governs when, after the right of perpetual usufruct has been granted to the land, there is a permanent change in the usage of the property (resulting in a change in the stated usage of the perpetual usufruct). In such cases, an application for a change in the stated usage should be submitted by the relevant authority (such as the County Governor (starosta), a local government department or official, including community head (wójt)/ mayor (burmistrz)/ city mayor (prezydent miasta)) or the perpetual usufructuary. A change in state may be applied for, provided th
Flex market picks up momentum
Flex market picks up momentum
The flexible office market in Poland is growing rapidly. In the upcoming years, we can expect the pace of its development to accelerate. Currently, over 420,000 sqm of flex space a ...
Walter Herz
Optimism returns
Optimism returns
Lower interest rates in the eurozone and the easing of monetary policy in Poland are expected to revive investment in the real estate market. A noticeable increase in the value of ...
Walter Herz
Warehouse developers now more cautious
Warehouse developers now more cautious
Pre-leases are now an important criterium Currently, the highest investment activity is seen for projects that have a secured pre-leasing level of at least 50-60 pct of the spa ...
Avison Young