Real Estate Guidebook 2022/2023. Accounting Case Studies in the Real Estate sector
Real Estate guidebook is a guide describing several dozen case studies based on our experience in international projects for clients from the construction and real estate industries.
The year 2021 in the real estate sector in Poland saw many interesting twists and turns. There was no shortage of positive information during it, although the not-so-good news were also unavoidable.
- For another year in a row, in terms of the volume of transactions carried out, the leading position was taken by the warehousing sector, which is becoming increasingly attractive thanks to the shift of a significant proportion of sales from the offline to online channel.
- Major transformations can be seen in the shopping center market – significant declines in popularity have been recorded by large schemes, while small retail parks are gaining at their expense.
- There is no sign of euphoria in the office market either – the volume of transactions in 2021 was 15% lower than that recorded in 2020. Added to that were frequent renegotiations of leases. Vacancy rates are also on the rise. This is undoubtedly the result of the pandemic and the changes that have taken place in the working rhythm of many companies.
- The housing market, however, was booming, with high sales and price increases recorded in 2021. The change came only at the beginning of the fourth quarter, in part due to the Monetary Policy Council starting a cycle of interest rate increases, which reduced the availability of credit. Cash buyers also refrained from purchases, anticipating declines in real estate prices in the near future.
- Things do not seem to be going well in the construction sector. There has been a considerable slowdown reported, while material shortages, supply chain disruptions or problems with the NRF funds could be another impediment to improving indicators in this part of the market.
Combined with the amendments to tax regulations (such as those introduced in the Polish Deal package and effective as of the beginning of 2022) there is no denying that accountants are facing quite a challenge. The task is not any easier for them with the ever-occurring doubts about the interpretation of the new regulations.
To address all this, we present the seventh edition of our “Real Estate Guidebook 2021/2022”. Inside, we have included practical issues and examples that will help in the daily work of finance and accounting departments.
