Real Estate Price Registry Opened. The Market is More Transparent, but There are Constraints
Poland's new law abolishes fees for accessing real estate price data, aiming to improve market transparency.
On February 13, a new amendment to Poland's geodesic and cartographic law took effect, removing fees for accessing data from the Real Estate Price Registry (RCN), which compiles transaction data from various counties. This legislative change is expected to enhance transparency in the property market by allowing easier access to crucial pricing information, which previously was limited due to costs associated with data requests.
Experts like Anton Bubiel from SonarHome.pl emphasize that this move will create a more balanced information environment for buyers, sellers, real estate agents, and investors. With the availability of current and reliable transaction price data, market participants can make better-informed decisions, potentially reducing price manipulation and promoting rational choices in property transactions. The overarching goal of this initiative is to foster a more competitive and fair market.
While the opening of the RCN is a significant step toward transparency, there are concerns regarding the ease of access and usability of the data. While the new rules aim to facilitate the use of the registry, practical challenges still exist, which may hinder users from fully leveraging the available information. Furthermore, the government anticipates that unblocking this data will pave the way for developing new analytical tools and software solutions tailored to the real estate market, further enhancing efficiency and decision-making processes for all stakeholders involved.