The Polish real estate finance landscape is undergoing significant transformation, driven by new regulatory frameworks, sustainability requirements, and evolving market dynamics. A recent panel discussion at Property Forum's Future of Real Estate 2025 conference in Warsaw featuring top banking and real estate experts revealed the complex challenges and opportunities facing the sector.
The Capital Requirements Regulation (CRR3) is introducing unprecedented changes to real estate financing. Radosław Trymucha from mBank explained the nuanced approach, noting, "The new regulations split real estate into acquisition, development, construction, and existing premises. Regulators are applying risk weights to individual assets, which makes some market segments more attractive for financing than others."
Banks are adopting increasingly conservative strategies when evaluating potential investments. Elżbieta Chmielowska from BNP Paribas emphasised that location and investor credibility remain paramount. "We are interested in financing assets across all sectors, but we look for two critical elements: an exceptional location and an experienced investor who can effectively manage and maintain the project's long-term value," she stated.
Sustainability is becoming a crucial factor in real estate financing. The upcoming Energy Performance Building Directive is pushing banks to consider energy efficiency more seriously. Justyna Kedzierska-Klukowska from Berlin Hyp AG highlighted the importance of forward-looking investment strategies. "We've been examining energy efficiency and ESG factors for a long time. Our expectation is that if there are efficiency deficits, the building owner should have a clear vision for improvement and value preservation," she explained.
