The idea is for people to have a cheap apartment, the 10-20 zł / sqm. monthly rent Photo: pathermedia
Does the apartment plus change our real estate market? It is also one of the topics discussed at the VI. European Financial Congress in Sopot. Indeed scheme proposed by the government is based, among others, that the Poles would rather rented apartment, and not to buy the property.
Developers calm
– We have no concerns. Besides, it is difficult at the moment to speak precisely about this program, because if we know the initial assumptions and outline. On the other hand, and I, and a large part of the development environment sees no problem in the fact that there will be apartments for rent. For years, I repeat that there is not enough social housing in Poland, such a market. With that much better it would check the social housing private. Just as the works in highly developed countries with a stable economic situation, and a stable housing situation. There is a private social housing is a major supplier of najpotrzebniejszego goods, which is flat – explains Jacek Bielecki, chief. Development Marvipol Development, co-founder and board member of Polish Association of Developers.
Recipient strictly defined
However, the apartment Plus program aims to provide housing to those people who are niezamożni. These are not the poorest, because for them there will be social housing, but those who, for example. No credit or loan would be too great a burden on the family. So the point is for people to have a cheap apartment, the 10-20 zł / sqm. monthly rent. Apartments have to be cheap, because the construction will be allocated land, which is in the hands of the Treasury. And this should have a significant impact on a lower rental price.
– And it just reassures us that these apartments will be for people who are not creditworthy. So not for our customers. It is also said about the priorities for the less affluent, for those with children, for those who can not otherwise provide housing, that is, they are not our customers. Thus, any concerns in our environment does not exist, except perhaps those little psychological – notes guest PR24.
Some may in fact think that it will be a cheap rent an apartment, and it will be an alternative to buying an apartment. But it will not be an alternative.
– As if anyone will have the ability credit earned will be fine, it’s just for this program do not get it. It is said because of the queues of scoring, with waiting lists. And that reminds me … – says Jacek Bielecki.
you more as a regulator, not the developer
But the only criterion of what is being said, eliminating the this program is the fact of having current or past the apartment. Well earners will also be able to participate in this program, so that will be the end of the queue.
– why competition is not. While it may instead be the development of a real social housing, such as is eg. In Western Europe, that is, private commercial. And here is the risk that potential private investors will not want at this time to develop the construction industry. Because whether someone likes it or not – that private business is always more efficient than the state-owned enterprise. The role of the state is to be a regulator, setting certain directions, priorities, but not necessarily the state has to be a developer, a builder of homes, managing those houses, that should not charge rent, accounted for water, electricity and so on. In my mind it is not the role of the state – says the expert.
And he adds that it may be preferable to any measures that the state wants it to allocate, were directed to support private rental housing.
Support for investing
Just as it was in the late ’90s and’ 2000, when she was eg. a relief construction for those who have invested in housing rent. And then about 80 thousand. housing thus created.
– The more such apartments will arose, including that market rents will be lower. While in Europe used solution for those who can not afford market rent, and they are subsidized rent. This has the advantage of such allowances, that payments take into account the current situation of these tenants. On the basis of the declaration of PIT is updated – explains Jacek Bielecki.
On the other hand when you move the program Flat Plus, it could be that someone who enters this program, because it will be not a good financial situation, even when this situation will improve, will continue beneficiary, although it will no longer belong to this group of people to whom it is directed program.
Mutual funds can help …
relief that existed several years ago concerned the construction of apartments for rent, and not whole houses. Today, it is more about the development of private buildings, where it builds precisely whole houses with apartments for rent. And only then it makes sense. Besides, if invested in the building, where there are many mansions, they can also do investment funds. Then the citizen can buy a share in the fund, and thus will be a shareholder in rental housing.
– But this is not. Today you can still also invoked eg. Open-ended or closed-end fund, and to make such investments. However, this is not done, and this for two reasons. One is the law on the protection of tenants, this is the brake. Nowhere in Europe does not have such a restrictive protection of tenants, as ours. This law was created to protect the tenants of municipal buildings, and passed to a market economy, although it does not fit her. And second – today it is not for such investors to the end of some economically. And because of this law on the protection of tenants and because it does not give satisfactory profits – indicates visitor Polish Radio 24.
… but the state also should help
In any country where social housing is developed, in the beginning it was necessary to give some encouragement. It could be tax relief, it could be like in Germany – accelerated depreciation. Practically it was a tax exemption on income from the tenements of such investors for 10 years.
– To expand the business, to show that it pays must be some state action to support an economy. In Germany, Austria, France, everywhere where construction is developed to jump start the system was such support. And this support also can talk to organized capital – says Jacek Bielecki.
Controversial housing replacement
The government thinks, but also about how to solve the problem tenants who do not pay the rent, and include proposed that municipalities provide replacement housing, but that special.
– Apartment replacement can today propose, but this is not done. And no contraindications does not – like an expert.
On the other hand, these special but first you need to have to build such facilities, where eg. One bathroom for some families, one kitchen for several families. But rather the social resistance against what is, at the very start eliminate the idea. – I am embarrassed that something like that may be offered in the twenty-first century, for families. Because for individuals – yes. If you have already decided that such people should be helped, then you need to help them through the benefits of renting an apartment, through subsidies for rent – adds Jacek Bielecki.
Funds REITs
In the world there are many different solutions to support construction. There are eg. REITs or Real Estate Investment Trusts. They can buy shares, and investing is done on the real estate market, it is also a regular dividend. By contrast, the State gives investors some relief. The funds operate in many countries, there are also plans to have appeared in Poland.
– It’s good, but there is one “but”. If today we have these types of funds can work in Poland, and does not work – it is from those already mentioned reasons, and also because of the exchange rate risk. The rate of return of the property is approx. 5-7 percent. A gold lost against the euro within a few weeks approx. 10 per cent., So there is no profit. So we can not count on long foreign investors, until we are in the euro zone. Because today the commercial building, office rents are in euros, and it is impossible mieszkaniówce. There must be in Polish zlotys. And in Poland I do not see such capital, because the capital still have enough – assesses the guest Polish Radio 24.
Real Estate and Retirement
However, such funds are also an ideal tool to save for old age, or long-term accumulation of savings, the potential capital.
– around the world, an ideal investor for residential construction are pension funds. In Switzerland 30-40 percent. the entire housing stock in cities belong to pension funds. However, in our example. Open pension funds can not invest in real estate, and secondly – disappear, are already greatly reduced, and for a moment all might not be – the expert believes.
And although could stay here used the possibility of funds from the third pillar and there are few participants, as contributions to ZUS and OFE practically impossible to investing, depositing more into these funds.
– If the citizen will be able to choose where they want to pay, then such . I am very willing to invest in such a fund tied to real estate. It works because all over the world, and with us, unfortunately, still lack this – points out Jacek Bielecki, Director. Development Marvipol Development, co-founder and board member of Polish Association of Developers.
However, there is good news. There are plans to open pension funds, however, could invest in real estate.
Robert Lidke, mb
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