Almost three decades after the fall of communism, the housing market remains both a social and economic challenge in Poland. The average living space per capita is one of the lowest in Europe, whereas about 60% of the Polish families cannot afford to buy a house. It is in the context of such demand that Poland needs to develop up to 3 million new housing estates in the next 10 years.
In 2016, the Polish government launched a national housing program, the largest affordable housing investment program in Central Europe. The aim of Mieszkanie Plus is to increase the availability of safe, affordable and long-term rental housing for low- and middle-income households. The program assumes close co-operation between private investors, state institutions and state-owned companies, as well as local governments. The investments are carried out by BGK Nieruchomości, a state-owned commercially operating company that manages closed-end private asset investment funds.
More than seventy municipalities already joined the program, which makes it possible for the BGK Nieruchomości to use sophisticated urban solutions and optimize the investment costs. The estimated rents are going to be about 25 per cent lower than on today’s local housing markets.