The Polish Real Estate Guide 2026

Real Estate Market Sectors – What’s happening in the markets?

Poland’s real estate market presents various opportunities across different sectors:

Legal, tax, and accounting aspects – Key factors driving future investments

Town planning developments scheduled for 2026 will significantly affect the construction market. Municipalities will be obliged to adopt new general space development plans by 30 June 2026 to enhance transparency and efficiency of investment processes. However, according to recent updates from the Ministry of Development and Technology, this deadline is to be postponed to 31 August 2026. The introduction of Integrated Investment Plans (IIP) and the Urban Register operational from 1 January 2026 are part of these changes. Additionally, zoning decisions issued from 1 January 2026 will continue in effect for five years only, and in the case of applications submitted from 1 July 2026, the possibility of obtaining new zoning decisions will depend on the entry into force of the general space development plan in the given commune.

New regulations aimed at protecting homebuyers (the new Developer Act) and the mandatory implementation of eco-friendly solutions in new buildings are significantly impacting the market. The Population Protection and Civil Defence Act (effective 1 January 2025) requires underground floors in multi-family buildings to enable temporary shelter spaces. The Environmental Protection Act amendment (11 January 2025) mandates cities with over 20,000 inhabitants to design urban climate change alignment plans. The amendment to the Act on the Protection of the Rights of Buyers (11 July 2025) requires developers to publish apartment prices per square metre.

Furthermore, several key legislative investor-perspective changes are planned for 2026-2027. One of them is the regulatory framework for Polish REITs, i.e. companies involved in real estate investments (SINN; Polish: Spółka Inwestująca w Najem Nieruchomości). Although the specific framework for REITs and the expected timeline for releasing the draft regulation are still unknown, any legislative developments in this regard should be closely monitored. It is possible that a new draft regulation will be released in 2026.

Cross-border reorganizations such as mergers, demergers or conversions (re-registrations) require that additional clearance be provided by the tax authorities as a prerequisite for the court to register a reorganization. Clearance will be issued as long as the reorganization is not captured under tax anti-abuse rules.

Importantly, as of 1 January 2025, significant RET amendments came into force. The new regulations include an autonomous definition of buildings and constructions, which is independent of construction law. The development may lead to increased tax burdens, including through chargeability of RET being extended for facilities that were previously not subject to this tax. 

As the number and scope of tax rules in Poland continue to evolve, potential consequences of the developments should be adequately analysed before a final investment decision is made to secure the intended commercial outcome of the project.

These changes may have a significant impact on the real estate market and the development of the construction sector.

ESG standards in the real estate sector 

The real estate sector plays a crucial role in reducing emissions and improving energy efficiency, as buildings account for nearly 40% of energy consumption and 36% of greenhouse gas emissions in the EU. ESG compliance has moved from an emerging trend to a standard required to ensure alignment with market expectations, the process driven by the EU energy‑performance regulatory framework, financing criteria and tenant demand. Measures such as the use of eco-friendly materials, renewable energy sources, smart energy management and sustainable transport solutions contribute to minimizing the sector's environmental impact. In Poland, sustainability certification continues to gain momentum in all segments of the real estate market. Not only does ESG compliance support climate goals, it also enhances the value of real property, making sustainable buildings more attractive to investors and tenants alike.

While the EU is narrowing and delaying parts of mandatory sustainability reporting under the Omnibus revision package, the business case for ESG in real estate remains strong. Credible data on energy, carbon and climate resilience increasingly underpins financing terms, investor decisions and tenant requirements, so many organizations continue to enhance ESG reporting standards, even voluntarily, to demonstrate their ambitions and progress.

What does the future hold?

The year 2026 will see an increase in the value of the investment market, driven by stabilized interest rates and greater predictability of debt costs. Poland will remain an attractive market for investors who will view it as one that is mature, stable and developed.

Polish domestic funds and private investors will play an increasingly important role in smaller and medium-sized transactions, filling the gap left by Western market players.

After a slowdown and focus on organic growth, we can also expect an increase in the importance of JV and M&A transactions as well as PPP agreements with local governments.

The year 2026 is expected to bring a significant easing of interest rates from the National Bank of Poland. The lower cost of money will improve investors’/buyers’ creditworthiness and enhance profitability of development investments.

The Polish real estate market will enter a phase of relative stability and equilibrium, with the potential for modest price increases but without any dramatic spikes. Careful selection criteria and high quality combined with focus on specific market segments, particularly rentals, will be key to profitability.

Legal and regulatory changes affecting major ESG rules that impact primarily the real estate sector will have significant implications for the value of real property and make sustainable buildings more attractive to investors and tenants.

Compliance with ESG requirements will have an impact on the ability to obtain favourable debt, as banks seek to increase their portfolio of loans taken out to finance green investments.

Modern technologies and automation will continue to be a significant factor that contributes to increasing efficiency and reducing costs. AI is already being used in various stages of the real estate lifecycle, transforming traditional business models in these areas.