The wait for REITs

From a legal perspective, how do you assess the current state of the Polish commercial real estate market? How do we compare to the West? Anna Wyrzykowska, attorney-at-law and partner, WKB Lawyers: Poland remains a very attractive market for foreign investors, particularly in the warehouse sector. Investors appreciate the stable economy, that labour costs are still competitive, the access to a highly skilled workforce, and our excellent location in the heart of Central Europe. However, what differentiates Poland from more developed Western markets, such as Germany or France, are the relatively frequent changes to the legal regulations together with the lack of legal reforms – both of which are preventing us from making our market more competitive. For example, following the changes to the spatial planning laws, the wait for the adoption of general plans has introduced uncertainty and could delay investment processes. On the other hand, we’re still lacking any final decisio