Portal DOM – what will change in the Polish real estate market?
Portal DOM – what will change in the Polish real estate market?
The government is introducing Portal DOM – a new tool designed to increase transparency in Poland’s housing market. This is one of the biggest changes in the real estate industry in years. What exactly will change and how will it affect buyers and sellers? We explain.
What is Portal DOM?
Portal DOM (Portal Danych o Obrocie Mieszkaniami – Housing Transaction Data Portal) is a government platform that will collect data on actual transaction prices of apartments and houses – both from the primary market (from developers) and the secondary market (from private individuals). No more “ask for price” listings – buyers will have access to reliable information about what properties actually sell for in a given location.
Data for the portal will come from three sources: the Developer Guarantee Fund, directly from developers and entities selling real estate, and from notarial deeds submitted by the National Tax Administration.
What will change for buyers?
For people looking for an apartment or house, Portal DOM is very good news. Here are the most important benefits:
Access to real transaction prices – instead of relying on asking prices, which are often inflated, buyers will be able to check what similar properties actually sold for in their area of interest. This will help in negotiations and making informed decisions.
Developer verification – the portal will allow checking the investment history of a given developer, any delays in project completion, administrative sanctions, and warnings from supervisory authorities. Buyers will also be able to see whether bankruptcy or restructuring proceedings are pending against the developer.
Ban on price increases after signing the contract – this is one of the most important changes. After signing a developer agreement, the property price cannot increase to the buyer’s disadvantage. The risk of rising investment costs transfers to the developer as a professional entity.
New requirements for advertisements – developers will be required to provide the exact investment address in advertisements, floor plans with room sizes, and clearly mark visualizations as illustrative materials. No more beautiful renders that have little to do with reality.
Higher reservation fee returned in case of problems – if the developer fails to fulfill the contract, the buyer will receive a higher refund of the reservation fee. This is meant to counteract developers unilaterally breaking reservations when market prices rise.
What does this mean for sellers on the secondary market?
Greater market transparency also means changes for people selling their properties privately:
Need for realistic pricing – when buyers have access to actual transaction prices, inflated asking prices will be easily verifiable. Properties priced significantly above market will simply not sell.
Faster sales at the right price – on the other hand, realistically priced apartments and houses will sell faster. Buyers, having access to market data, will be able to make decisions more quickly.
Greater competition – sellers will need to pay more attention to presenting their property and standing out from other listings, not just through price.
When will Portal DOM start operating?
The launch of Portal DOM is scheduled for 20 months after the law is published in the Official Journal. The portal will be operated by the Insurance Guarantee Fund. It’s worth preparing for these changes now – both as a buyer and a seller.
How can we help you?
At Eternel, we’ve always valued transparency and reliable service. We help our clients properly value their property based on current market data and achieve the best possible price – with no surprises or hidden costs.
If you’re planning to buy or sell property in Kraków and the surrounding area – contact us. We’ll provide a free valuation of your property and advise you on how best to prepare for a transaction in the new market reality.