At the 10th International Economic Forum in Katowice, Roman Matys, President of the International Investment Office, moderated several panel discussions.
In the debate on Poland’s property market in 2023–2024, Roman Matys argued that the market will keep developing and growing despite pessimistic statements from some in the industry. In recent years Poland has become one of the most popular countries in Eastern Europe for property investment, and the outlook for 2023–2024 remains unchanged.
What drives demand
One driver of demand is Poland’s rapid economic growth. The country attracts foreign investment, businesses expand and new jobs are created. This raises demand for commercial property: offices, shops and warehouses.
Another driver is rising living standards. The Polish economy has grown steadily for years and incomes are rising, so many people are buying their own homes or looking for more comfortable, modern rentals. This supports demand for residential property in cities and suburbs alike. According to market players, the government’s announced “Safe Credit” programme, designed to help first-time buyers, should add significant potential.
Poland also attracts foreign buyers who see it as a good opportunity to invest in housing or commercial projects. Ukrainians are far from the only foreigners here.
Risks
There are risks, too. One is a possible oversupply of housing: if demand cannot keep up with supply, prices may fall. Changes in the economy or the political situation in the region could also affect market stability.
Overall, the future of the Polish property market in 2023–2024 looks promising. Despite inflation, which troubles every country without exception, and the many problems discussed across the industry, we see economic growth, rising living standards and the growing appeal of Polish property to foreign investors. All this supports demand for different types of property. But it is important to keep in mind the risks and the economic and political changes that could affect market stability.
