New Developer Act – legislative dud in the Sejm

On 30 March, the Sejm Infrastructure Committee adopted a draft act aimed at re-regulating the principles of purchasing flats on the primary market. Establishment of the Development Guarantee Fund is the main novelty. It is the entity to which contributions from the price of each new flat are to be paid. The contribution is to depend on what trust bank account used by the developer. Most of the market is based on open accounts. The contribution will then amount to a maximum of 2% of the flat value.

Comments from real estate law experts: Paweł Wójcik, managing partner at GWW legal, attorney-at-law, Konrad Płochocki, general director of the Polish Association of Developers, attorney-at-law, prof. Bartłomiej Gliniecki from the University of Gdańsk.

The article was published in today's issue of Rzeczpospolita: https://www.rp.pl/Nieruchomosci/303319910-Nowa-ustawa-deweloperska—legislacyjna-fuszerka-w-Sejmie.html 

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