Poland Not just for the rich

How would you assess the current condition of the housing market in Poland? Do government support programs genuinely improve sentiment – both among buyers and renters?

Government housing policy plays a crucial role for society, the construction sector, and developers. But in Poland, we often reduce the conversation about housing policy to privately developed apartments. That’s too narrow. Housing policy affects everyone, because decent living conditions are fundamental to people’s sense of security and wellbeing. If we look at the premium market – people who can afford to buy their own homes – it really doesn’t need additional stimulation. The same goes for the PRS. What matters there is improving efficiency: simplifying administrative procedures and limiting unnecessary protests from neighbors, which delay permits and raise costs. Faster decisions mean lower final housing costs. Where government support is truly needed is in social and affordable housing – whether rental, municipal, or hybrid models that allow tenants to eventually buy their homes. Companies like ours are fully capable of delivering high-quality housing of all types, and we’re ready to partner with municipalities or the state to expand the social housing stock.

How is Eiffage Immobilier Polska adapting its strategy to changing housing preferences – especially the growing popularity of renting among younger generations?

Since 2018, we’ve been implementing a strategy that draws on our experience in more mature Western European markets while closely tracking local trends in Poland. Residential development is close to our heart, but it’s just one part of our business. And again – it’s important to stress that housing is not only about apartments for the wealthy. Housing is about meeting one of people’s most basic needs.

PRS is not a passing trend, nor is it speculation. It’s certainly not an “easy shortcut” – in fact, PRS projects are often more complex than traditional housing. They require fully furnished, turnkey apartments. But they meet a real need for a large group of people – especially those who can’t or don’t want to take out a mortgage. And what doesn’t get said enough is that PRS offers tenants something invaluable: quality, transparent contracts, and security. We’re working with one of the most dynamic investors on the market, who recently closed a landmark deal worth 2.4 bln PLN, involving 5,300 apartments across Poland. This is proof that our market is maturing. At Eiffage, we approach PRS responsibly: we care about good architecture, we build in line with local zoning and with respect for the “genius loci,” and we prioritize central locations with easy access to public transport.

Do you plan to continue developing in PRS or invest in other alternative housing models?

Absolutely – we see the future in PRS. The Eiffage Group also has extensive experience in the PBSA sector in Western Europe. In Poland, there’s a clear need for more student housing in major cities, and we’re already acting on this. For example, we built a 268-unit private dormitory on 3 Maja Street in Kraków, and in Warsaw, we delivered a student campus for SWPS University at the corner of Chodakowska and Wawerska streets. We’re also looking seriously at social housing models. Once again, I’d emphasize: it’s time to use the political will of the state and local governments to collaborate with flexible, hard-working private companies through transparent, competitive frameworks. That’s how we can deliver the much-needed stock of social housing. There are already great examples – state-owned companies like PFR Nieruchomości are doing impressive work, creating rental projects that genuinely support urban growth. We’re currently in discussions with municipalities to design the best models for public–private cooperation in this area.