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.

Resi4Rent has launched a new residential complex in Kraków’s Zabłocie district, offering 873 fully furnished apartments available on subscription-based rental contracts.

Over 5,000 units from the portfolio of Resi4Rent – a major institutional residential rental provider in Poland – are set to be acquired by a new owner. Upon completion of the deal, 18 completed Resi4Rent developments will be acquired by Vantage Development, part of TAG Immobilien Group, a Hamburg-based real estate company. The transaction is valued at PLN 2,405 million (€565 million) with a forward-looking NOI yield of 6.3%. Both Echo Investment and Griffin Capital Partners remain committed to developing the remaining Resi4Rent portfolio and expanding it further over time.

Resi4Rent has completed construction of its latest subscription-based rental housing development in Wrocław. Located on Grabiszyńska Street in the city’s Fabryczna district, the project adds 1653 units to the operator’s total offering in Wrocław.

Noli Studios, the Scandinavian serviced living operator, will open a new location in Gdańsk’s Garnizon district in July 2025. The launch follows the brand’s debut in Poland with Noli Studios Warsaw Ursus earlier this year.