In a few months, the government draft law on real estate investment funds will be submitted to the Parliament. Can we expect a revolution in the rental market?
According to Dziennik Gazeta Prawna daily, the end of July will mark the beginning of work of the SPECIAL TEAM ESTABLISHED TO DEVELOP THE REIT ACT. In addition to representatives of various ministries, it includes representatives of the National Bank of Poland, Bank Gospodarstwa Krajowego, the Polish Financial Supervision Authority and the Office of Competition and Consumer Protection.
In the project there are to be resolved such issues as the legal form of the fund and the manner of its taxation, the permissible group of investors and the TYPE of real estate in which the funds will be able to invest.
The authors’ main goal is to INCREASE THE ATTRACTIVENESS OF TAKING ACTION ON THE RENTAL MARKET and creating incentives for long-term savings.
There is no doubt that the Polish legal system DEFINITELY lacks this type of solutions, so their introduction is a very good idea. The question is to what extent the developed regulations will actually meet the expectations of investors.