Poland's living sectors are evolving from niche offerings into recognised institutional investment products as student housing, micro-living, and co-living models expand across the market, according to Agata Jurek-Zbrojska, partner and head of real estate and construction at CMS in Poland. Speaking to Real Asset Media at EXPO Real 2025, she said the evolution of those sub-sectors across Europe has changed how investors view the wider living market. "It's wonderful to observe the students' housing and the other sectors of living like micro living and co-living in [recent] years in Europe," she said. "I think that this evolved from the niche sector to the [core] real estate asset class, and we do see in particular student housing models as the investment products in Europe, across all countries in fact." Although Poland remains earlier in its development cycle, she said growth is strong and accelerating. "For Poland this is still the really very dynamically evolving asset class," she said. "We still do have a shortage of professional student housing. Micro and co-living are really, really like a micro percentage, but this is really growing, in particular the student housing." The rise is mainly driven by the influx of international students and the expansion of English-language programmes at Polish universities. "This is connected in particular with the flow of international students to the Polish cities, and of course again this is connected with the evolution of the Polish universities, which focused also on growing possibilities for international students to study in English," she said. Jurek-Zbrojska expects demand to continue strengthening in the short term as more investors seek exposure to the sector. "So, that's really important. In the short term, I think that this dynamic will be the same. So, there will be an inflow of new investors, I hope, in this sector." She said macroeconomic conditions remain an external factor, but Poland's fundamentals present a solid case for capital targeting student housing. "Of course, everything depends on the macroeconomic situation and some questions which we cannot answer, and they are independent of anybody, of ourselves," she said. "But taking into account the economic growth and other economic indicators in Poland, I believe that this will give strong arguments for investors to come to this sector in particular." She added that both international and domestic student growth — combined with rising household incomes — should support continued market expansion. "When you see the growth of international students coming, the growth of the students — also national — and obviously the economic growth in Poland allows also the national students to use a bit more expensive student accommodation," she said.