Urban Construction Code – a new complex regulation for Polish real estate marketTuesday 19 December 2017 - 11u20
On November 23, 2017 Polish Ministry of Infrastructure published a draft of the new Urban Construction Code. Work on the Code is expected to be completed by the end of 2017 and the draft is going to be submitted to the parliament in the first quarter of 2018. At present, issues related to the investment process and land-use planning are included in many different legal acts. According to information released by the Ministry the main assumptions of the Code are: return to spacial order and its consolidation, improvement of investment and construction processes, ensuring efficient and timely implementation of public investment. Moreover, the Code aims to clarify and harmonise legal terms.
The draft of the Code provides a number of new solutions which are important for investors. Among them there will be a new planning instrument called area of organized investment allowing to establish a cooperation between local authority and investor on planned investment.
There will be also a new type of decision i.e. investment consent replacing current zoning decision and building permit which will shorten significantly investment processes.
All investments will be divided into six various categories. For each category of investment, different rules will apply. Some of them will require investment consent, other tacit approval, and others will not need any consent.
The real estate market in Poland is very popular among investors. Year 2016 was again a record with volume of transactions exceeding 4,5 billion Euro which is the highest score in Central and Southern Europe.Author: Adam Barbasiewicz