Cavare – a developer specialising in institutional rental projects and part of the Cavatina Group – is entering the role of a standalone PRS property operator for the first time. At ul. Jankego 15 in Katowice, it is opening a leasing office and starting commercialisation of a complex of 164 flats, marking a new stage in its strategy.

Cavatina sold last year over 1,400 residential units and raised over €500 million in external capital, including nearly €200 million from London-based fund Fidera Vecta.

As traditional real estate sectors mature, investors are increasingly looking to residential rental housing, co-living, student accommodation and data centres for growth. While demand drivers remain strong, these sectors are still evolving, with questions around regulation, financing, market liquidity and operational models shaping investment decisions. At Future of Real Estate 2026, industry leaders discussed where the biggest opportunities lie and what needs to happen for these asset classes to scale further in Poland and across CEE.

The institutional private rented sector (PRS) is becoming an important part of the Polish residential market, recording supply growth and attracting both domestic and international capital, according to a report by BNP Paribas Real Estate Poland.

High market fragmentation, rising land costs, the need to rapidly scale operations, and succession issues in companies mean the Polish residential market will face a wave of mergers and acquisitions (M&A) in the coming years, according to a report by JLL Living and Crido.

Institutional rental housing and student accommodation are expanding rapidly across CEE as urbanisation, housing shortages and changing lifestyle patterns reshape demand. At the same time, investors are increasingly exploring conversions, hybrid living concepts and heritage revitalisations to create resilient assets in prime locations. In this interview, Peter Noack, Founding Partner and CEO of Zeitgeist Asset Management, and Tomasz Dąbrowski, Managing Director of Zeitgeist Asset Management Poland, discuss the outlook for PRS and PBSA, the growing role of flexible living models and where they see the most promising value-add opportunities in the current market environment. 

Cavare has signed an agreement to sell the Palio C project on Jana z Kolna Street in Gdańsk to Urban Partners, formerly known as Nrep.

At the recent CEE Property Financing Update 2025, with Agata Jurek-Zbrojska, Partner and Head of Real Estate and Construction at CMS Poland, moderating the discussion, Renata McCabe Kudla (Grupo Lar Poland), Bartłomiej Oset (NDI Development), and Waldemar Wasiluk (Victoria Dom) explored the evolving landscape of residential real estate investment in Poland. The conversation revealed a landscape shaped by sharp increases in development costs, shifting demand, and regulatory complexity.

Falling interest rates, soaring housing prices, and growing demand for flexibility are creating fertile ground for the rapid growth of Poland’s institutional rental sector. In this interview, Elżbieta Chmiel, Member of the Management Board at PFR Nieruchomości, highlights who the main tenants of PRS are, how well-designed projects can meet both residents’ and investors’ needs, and why prefabrication and public–private partnerships are key to delivering modern, affordable housing across the country.

Trei Real Estate has completed the first construction stage of its UP2U rental housing development in Poznan, Poland. The project delivered 330 apartments, with the first tenants moving in October 2025. By 2026, the development will comprise 460 furnished rental apartments totaling 19,300 sqm of residential space, requiring an investment of €51 million.