Going rental

The first few deals on the Polish PRS market, which took place around five years ago, caused something of a sensation at the time, but for a while they were still few and far between. The development of a market back then was not being driven by PRS companies (along Western lines) buying up all the available apartments before the developer had even dug the first hole, but rather by the demand from individual buyers. Furthermore, the capital was generally being invested in more mature, tried-and-tested product, since there were still satisfactory profits to be made from the commercial real estate market and thus expeditions into new, unchartered territory were not necessary. However, the demand from individuals on the residential market has clearly waned in recent months, while the yields for office buildings and shopping centres have increased markedly. And so a new promised land has appeared on the horizon tempting increasing numbers of institutional investors to head towards it: the