How did PINK come to be and what’s its primary mission?

PINK emerged amidst disagreements with the Ministry of Finance over real estate transaction taxation. The association acts as a mediator between authorities and real estate firms, offering industry insights, addressing issues, and devising solutions. We facilitate workshops, connecting Polish and foreign professionals, while our mission is to demystify the Polish real estate market, dispelling notions—such as international investors aiming solely for quick profits. We aim to highlight the sector’s social and financial contributions in everyday life.

Is the current taxation level conducive to real estate businesses in Poland?

Over the past four years, efforts were made to amend regulations, especially concerning special income tax. Although improvements have been made, certain regulations remain burdensome, creating market uncertainties. While the taxation level has improved, eliminating uncertainty regarding transaction logistics is essential for seamless operations.

What legislative changes is PINK advocating for currently?

We’re collaborating on revamping the REITs regime, addressing members’ concerns. The government’s formation of a multi-ministerial technical team for new regulations is a positive step. Another concerning issue is legislation granting telecommunication providers access to buildings without owners’ consent—an adverse regulation that needs rectification.

International investors dominate Poland’s real estate market. What contributes to this trend and are there hurdles for local companies in investment?

Initially, inadequate local capital and regulatory constraints led to this trend. Lack of vehicles for private investment also contributed. As the market matured, significant investments drew international players. Historically, Polish individual investors preferred residential over commercial sectors due to a lack of understanding of the latter’s nuances.

How did the pandemic affect PINK members, and how did you assist them?

We collaborated with developers and office investors to highlight the importance of office spaces in societal functionality despite the work-from-home trend. For retail owners hit hard by the pandemic, we provided continual support while urging authorities to play their part.

What’s the envisioned trajectory for PINK Association in the next two to three years?

We aspire to be a recognized and trusted representative of the real estate industry, establishing industry standards for professional conduct, ecological measures, and quality systems. Regulation is crucial, especially in commercial transactions within the residential market, an area gaining traction recently. Ultimately, we aim to navigate post-pandemic challenges, solidifying PINK’s influence and support within the industry.