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Significance
The construction industry in Eastern Europe, and Poland in particular, has boomed during the last decade. However, this is likely to change. Poland’s latest reform of development regulations, while not crucial on its own, adds to a long list of recent political, economic and regulatory developments set to restrict supply and demand for new construction, cooling the market down significantly.
Impacts
The new regulations are likely to increase the time it takes to complete a sale.
The falling affordability of housing may prompt increased salience for the rental market.
Given the contribution of construction to GDP, the slowdown may contribute to a decline in economic growth.
Keywords:
Poland,
EUR,
Eastern Europe,
economy,
industry,
international relations,
politics,
construction,
labour,
legislation,
property,
regulation,
corporate,
debt,
employment,
fiscal,
growth,
investment,
monetary,
prices,
refugees,
war,
Mortgage finance,
Real estate
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2022
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