Real Estate Sector in the Face of Climate Change Adaptation in Major Polish Cities

Abstract

This paper aims to review subject-matter literature and analyse the development policy documents of major Polish cities addressing the issue of climate change adaptation (urban adaptation plans, Polish abbr. MPA) and concerning the real estate sector; it is also an attempt to draw conclusions and identify potential benefits and challenges that the construction sector is currently facing. The literature focuses on coastal real estate, costs, benefits and barriers in the adaptation of buildings. MPAs point to the significant role of the real estate sector in adapting to climate change. Soft and hard instruments are becoming increasingly important in MPA. These are spatial planning (building restrictions in hazardous areas, use of green roofs in investments), a system of incentives for investors to promote adaptation activities, ecological education, investments in improving the energy efficiency of buildings. Also identified are the benefits to the real estate sector, e.g. the growing importance of occupations on the real estate market, the development of innovations and increased access to cheaper services and technologies. In Polish cities, high-intensity residential areas are characterized by high sensitivity. MPAs will strengthen the resilience of the city’s technical infrastructure and public space, as well as develop blue and green infrastructure, which may translate into the increased resilience of real estate.