The government plans to present a draft on restricting the purchase of apartments by investment funds within the next two weeks, Development and Technology Minister Waldemar Buda announced.
“We are in the process of completing this work […] We have an idea of how to regulate this, because we wouldn’t want to lead to a situation where investment funds are chasing Jan Kowalski for apartments,” Buda said Buda told Radio Plus.
Asked when the project would be presented, he said: “I hope within two weeks.”
According to the minister, investment funds should be allowed to build housing if they want to decide to do so.
“Investment funds should work a little differently, if they want to then they should build, but from start to finish. It should be a process. Those apartments they build should be something in plus. Not competing with John Smith just something in plus,” Buda stressed.
Referring to the comment that they would then be developers, Buda said: “We just want them to be more developers, that is, to build more, not to pick up from the market, because then there is a supply problem from Jan Kowalski’s point of view.”
He also outlined solutions that could be introduced. However, he dodged the question of which one would be chosen.
“The solutions are many. We can limit the acquisition of such apartments in general from the primary market, that is, as the apartment is separated, we can introduce a ban on this here, and there can also be tax solutions,” Buda said.
“We also have a situation like this, where as of 2023, only individuals who rent apartments are on the rental lump sum, while someone who is on CIT will still be on CIT. This is also something to think about. There is a tax on buildings, which can also be used to steer certain events in the market,” Buda added.
Prime Minister Mateusz Morawiecki announced in mid-October that the government plans to introduce an additional fee on the wholesale purchase of apartments by investment funds. He also informed that work on the planned regulation was being carried out at the Ministry of Development and Technology.
At the time, the prime minister indicated that the planned solutions primarily include possible additional fees in the event that a fund buys apartments in bulk.
Source: Radio Plus and ISBnews
