Poland Demand for PBSA continues to accelerate

What were the key takeaways for international investors during the study tour of the PBSA market in Warsaw and Kraków?
The Bonard Property Tour provided an opportunity to gain insights into Poland’s PBSA market. Despite being at a more advanced stage of development compared to some CEE countries, Poland’s student housing sector has undersupply, with only 1 in 10 students having access to accommodation. Demand for PBSA continues to accelerate, driven by a steady rise in international student enrolments, averaging a 7.2 pct. year-on-year increase, as well as increasing mobility among domestic students and evolving socio-cultural trends.

How would you assess the current investment potential of the Polish PBSA market compared to other CEE countries?
Polish universities, in key cities like Warsaw, Kraków, Wrocław, Poznań and Gdańsk are being recognised as key locations for PBSA investment. The growing interest is driven by a steady rise in international student numbers, as well as broader socio-cultural trends such as increased student mobility and evolving lifestyle preferences. It was interesting to learn that the strength of Poland’s PBSA market is reflected in the high occupancy rates, ranging between 98 pct and 100 pct, alongside strong rental growth. Investors are not only delivering high-quality PBSA developments but are also starting to develop other residential models, such as flex living concepts. I think this will help increase the long-term resilience of investments by reducing dependency on academic calendars.

Were there any specific projects or local partnerships that particularly impressed you during the visit?
Yes, there were several projects that stood out for me and made a strong impression during the tour. The Milestone project was a great example of high-quality renovation in a historic setting, for which great care has been taken to preserve the character of the building while offering modern functionality. Basecamp by Xior in Kraków highlighted how diversification is a strong proposition. The emphasis on well-designed common areas that support a wide range of needs stood out as a forward-thinking approach to modern living. I was also impressed by the 1AM assets in Warsaw and Kraków. In particular, the Warsaw site currently under renovation is showing how quickly and effectively high standards can be delivered. At Zeitraum Kraków, I noted the efficient operation and welcoming atmosphere, which contributes to the resident experience. Finally, Noli Studios demonstrated flexibility at its finest, with adaptable living solutions that align well with evolving tenant expectations.

What kind of feedback did you receive from the participants of the tour regarding the Polish student housing sector and its maturity?
From the conversations I had, many participants see Poland as a key market for investment in student accommodation. The country’s high-quality higher education institutions continue to attract a growing number of international students, reinforcing its appeal. Investors and stakeholders recognise opportunities for development, especially in delivering PBSA properties that meet both modern expectations and international standards.