Skills-based hiring gains ground, moving beyond diplomas

More companies in Poland and globally are shifting away from traditional degree requirements and focusing on skills-based hiring, a recruitment approach that prioritizes candidates’ practical abilities over formal education. Major international firms like IBM, Google, and Revolut are already applying this model, and research shows that 81% of companies worldwide adopted it in 2024, up from 57% in 2022, according to the TestGorilla State of Skills-Based Hiring 2024 report.

The model relies on assessing candidates through competency tests, practical tasks, micro-certifications, or work portfolios, rather than university degrees or CVs listing educational backgrounds. McKinsey reports that skills-based hiring is five times more predictive of job success than educational qualifications. At the same time, companies like Revolut have cut recruitment times by as much as 40% using this approach.

In Poland, the trend is gaining momentum. According to experts from Personnel Service, this method broadens the available talent pool — by up to 6.1 times in some sectors like artificial intelligence and green technologies — improves team diversity, raises retention rates, and reduces recruitment costs.

“It’s not about the paper, it’s about skills,” said Krzysztof Inglot, labour market expert and founder of Personnel Service. “In today’s rapidly changing world, hiring people based on their real competencies is no longer just a trend; it’s a necessity. But many companies still stick to superficial changes — to truly benefit, they need comprehensive systems for assessing skills and fostering continuous employee development.”

This approach can open doors for candidates without formal higher education, allowing companies to better adapt to evolving market demands, especially in technology, logistics, customer service, and analytics.

Source: Personnel Service

Financial portrait of young Poles: Focused on savings, development, and lower debt

Young Poles are showing signs of increasing financial maturity, according to new data from the BIG InfoMonitor Debtors Register and the BIK credit database. People aged 18–24 have reduced their total arrears by PLN 172 million compared to a year ago, bringing the total to around PLN 873 million as of February 2025. About 65% of young respondents say they have no outstanding debts, whether credit-related or not.

Research commissioned by BIG InfoMonitor shows that 29% of young people fully met their financial plans last year, more than any other age group (24%). Looking ahead, 18% plan to spend more on education and professional development, compared to just 7% among older generations. Spending on personal development even outranks spending on leisure activities among this group.

When it comes to improving their financial situation, 44% of young people plan to increase savings, 37% aim to cut unnecessary purchases, 28% will look for discounts or promotions, and 17% intend to deepen their financial knowledge, including topics like debt management.

Income growth is also a goal: 36% plan to seek additional income sources, 28% are considering changing jobs, and 19% hope to take on extra projects at work. Only 19% said they do not plan to act on improving their finances, the lowest share among all age groups.

According to Waldemar Rogowski, chief analyst at BIG InfoMonitor, young people are becoming more cautious with borrowing and are focused on managing their money responsibly. While some still hold the view that securing one’s financial future is something to worry about later in life, there is a visible shift toward proactive financial behavior.

Data also show that young Poles are working on paying off existing debts, including obligations to banks, loan companies, service providers, and even friends or family. On average, individuals in this group have PLN 7,312 in unpaid liabilities, a reduction of PLN 743 from the previous year. The share of unreliable young debtors in their age group is 4.5%, the lowest compared to older cohorts. Most unpaid debts are non-credit obligations, such as unpaid utility bills, internet or phone charges, fines, or child support.

Experts point to the role of financial education in this improvement. Rogowski notes that financial topics introduced in primary school are helping young people understand the risks of being unreliable debtors. Małgorzata Bielińska, education director at BIK Group, emphasizes the need for integrated and practical financial education across all age groups, using modern tools like games, online courses, and interactive platforms to prepare people for real-world financial decisions.

Source: BIG InfoMonitor

Fewer loans for micro-enterprises in March 2025, overdrafts show growth

In March 2025, Polish banks granted 2.9% fewer loans to micro-enterprises compared to March 2024, with the total loan value declining by 4.4%, according to data from the BIK Group. Overdraft loans were the only category showing growth, with a 4.5% increase in value compared to other loan types.

Looking at the first quarter of 2025, overdrafts again stood out as the only loan segment with positive growth, recording a 2.1% increase in value. By sector, the service and commercial industries accounted for the highest number of loans granted in March, while in terms of value, only the manufacturing sector recorded positive growth, at 6.0%.

According to Dr. Waldemar Rogowski, chief analyst at BIK Group, the overall decline in lending is part of a broader trend of deleveraging, where businesses reduce debt in favor of equity financing. High interest rates and economic uncertainty, both globally and domestically, have contributed to a significant drop in investment loans, with the number of such loans falling by 31.4% year-on-year.

Rogowski noted that Poland’s investment-to-GDP ratio has remained low for the past decade (around 17% compared to the EU average of 21%), limiting demand for long-term financing. However, potential factors such as funds from the National Recovery Plan (KPO), tax incentives, and possible interest rate cuts could improve conditions for investment loans going forward.

The rise in overdraft loans reflects micro-enterprises’ need to maintain liquidity amid growing payment delays. “Micro-companies face overdue receivables more often than medium or large companies, which may explain the increased use of overdrafts – the only loan type showing positive dynamics since the start of the year,” Rogowski added.

Source: BIK

Over 20% of employed people in EU worked on weekends in 2023

In 2023, 22.4% of employed people in the European Union reported usually working on weekends, according to Eurostat data.

Weekend work was most common among skilled agricultural, forestry, and fishery workers (49.5%), service and sales workers (48.9%), and people in elementary occupations (26.7%).

By employment type, 19.2% of employees reported regular weekend work, compared to 46.7% of self-employed persons with employees (employers) and 37.8% of self-employed individuals without employees (own-account workers).

Among EU member states, Greece recorded the highest share of employees working weekends (32.3%), followed by Italy (30.9%) and Cyprus (26.4%). The lowest shares were observed in Lithuania (3.0%), Poland (4.5%), and Hungary (6.6%).

Source: EUROSTAT

Czech employment and unemployment rates – March 2025 update

According to seasonally adjusted data from the Czech Statistical Office (CZSO), the employment rate for people aged 15–64 reached 75.9% in March 2025, up 1.3 percentage points compared to March 2024. Male employment stood at 81.2%, while female employment reached 70.5%. The gap between male and female employment rates has narrowed to below 11 percentage points, a historically low level compared to the 17-point gap seen before 2010.

The general unemployment rate, reflecting the proportion of unemployed within the labour force, was 2.7% in March, down 0.3 percentage points year-on-year. Male unemployment was recorded at 2.2%, and female unemployment at 3.2%.

The economic activity rate, measuring the share of economically active persons among those aged 15–64, was 78.0%, an increase of 1.0 percentage point from the previous year. The male activity rate was 83.0%, while the female rate was 72.8%.

These figures are based on the Labour Force Sample Survey (LFSS), which follows International Labour Organization (ILO) definitions and is internationally comparable. The data differs methodologically from the Czech Labour Office’s administrative figures, such as the registered “share of unemployed persons.” For the broader 15–74 age group used in Eurostat reporting, the Czech unemployment rate in March 2025 was 2.6%.

Source: CZSO

Kasl reconfirmed as Chairman of Czech Chamber of Architects

The General Assembly of the Czech Chamber of Architects (ČKA) has confirmed Jan Kasl as Chairman, with Markéta Žáček Zdebská as First Vice Chair and Petr Lešek as Second Vice Chair. The assembly, held on April 26, identified priorities including the protection of public interest, support for architectural competitions, and improving conditions for the architectural profession.

According to the ČKA, the chamber will focus on strengthening the quality of the built environment and landscape, engaging with public administration, and contributing to the preparation of legislation on Building Information Modeling (BIM). Additional goals include ensuring meaningful conditions for heritage care, integrating qualitative factors into subsidy policies, promoting comprehensive building renovation approaches, and developing standard contracts for public clients.

Several new members were elected to the chamber’s board, including Karolína Kripnerová, Petr Hornát, and Viktor Odstrčilík. Returning board members include Vice Chairs Žáček Zdebská and Lešek, along with Štěpánka Endrle, Pavel Martinek, David Mateásko, Ondřej Remeš, Ondřej Rys, and Stanislav Žerava. Václav Zůna joins the supervisory board, which also includes Michal Hadlač, Miroslav Holubec, Jana Janíková, Martina Kameníková, Mirko Lev, Josef Patrný, Vít Podráský, and Ondřej Tuček. The chamber’s Council of the Profession is led by Milan Kopeček.

Kasl, who has chaired the ČKA since 2019, has been active on issues such as the digitalization of building processes and collaboration between professionals and government. He has worked as an architect since 1977 and was Mayor of Prague from 1998 to 2002.

CA Immo exits Serbian market with sale of Sava Business Center

CA Immo has completed the sale of the Sava Business Center in Belgrade, marking the company’s exit from the Serbian market. The office building offers approximately 19,600 m² of gross lettable space and was 96% occupied at the end of 2024, generating annual gross rental income of around €4 million.

This transaction is part of CA Immo’s ongoing capital rotation strategy, aimed at sharpening its focus on high-quality, modern office assets in its core markets. Since 2018, the company has withdrawn from non-core markets including Romania, Slovenia, Bulgaria, Russia, and Croatia, as well as secondary cities in Hungary, Austria, and Poland.

The sales price and the identity of the buyer were not disclosed. Proceeds from the sale are expected to be reinvested into value-driven projects, including developments in Berlin and selective acquisitions aligned with the company’s long-term investment focus.

CBRE served as the real estate broker, and CMS provided legal advisory services to CA Immo during the transaction.

GARBE completes production hall for NOBO Automotive at České Budějovice

GARBE has completed and handed over a nearly 30,000 m² production hall to NOBO Automotive at GARBE Park České Budějovice. The project was delivered on schedule within ten months and will serve NOBO’s production of seat sets and components for BMW vehicles.

The facility was built to meet the technological and sustainability standards required by the automotive sector. It has been designed for BREEAM Excellent certification, meets EU Taxonomy requirements, and incorporates features such as green roofs, vegetated facades, reflective TPO roof insulation, and a rainwater system for toilet flushing. Additional amenities include a bicycle shelter linked to the local cycle network and an internal water filtration system to reduce single-use plastics.

Representatives from GARBE and project management firm Turner & Townsend highlighted the successful coordination of leasing, technical requirements, and advanced automation solutions during construction.

GARBE Park České Budějovice is located near the planned D3 motorway, offering good road connections and proximity to České Budějovice airport. The park has an additional 170,000 m² available for future development.

Knight Frank The Wealth Report 2025: Global wealth, property investment, and economic trends

The 19th edition of Knight Frank’s annual Wealth Report offers a detailed look into the evolving landscape of global wealth, property investment, and economic trends shaping decisions among the world’s affluent. The report highlights both challenges and opportunities facing investors, particularly in real estate, at a time when global economic volatility and geopolitical shifts are reshaping markets.

The report notes that despite heightened geopolitical tensions and market disruptions in early 2025, global economic growth is expected to remain steady, with forecasts suggesting it may even outpace the growth of the past two years. Inflation, while still elevated, is gradually easing in developed economies. For the real estate sector, which has seen investment volumes drop by nearly 60% since the peak in 2021 due to high debt costs and rising fixed-income returns, this represents a welcome shift. Recent data shows a slowdown in the pace of decline, with investment volumes rising year-on-year in the second half of last year, pointing to renewed confidence.

Private capital continues to play a critical role in real estate markets. According to Knight Frank, 44% of global family offices are looking to increase their allocations to the sector. This sustained interest comes despite the sector’s challenges, particularly limited supply in both commercial and residential segments. The demand for prime office space is particularly acute; in central London alone, there are 62 active requirements for offices exceeding 50,000 square feet, often requiring waits of up to three years.

On the residential side, the report finds that all G20 nations have failed to meet their annual housing targets for the past five years, contributing to rising house prices and rents and putting pressure on affordability. Yet, this mismatch between supply and demand opens a significant window for investment, particularly in living sectors such as build-to-rent, which accounts for less than 1% of rental stock in major global cities including Tokyo, Paris, and Sydney.

A standout insight from the report is the diversity of investment opportunities. While traditional real estate assets remain in demand, new categories such as data centers, logistics, and luxury residential properties are drawing heightened interest. These sectors are positioned as growth areas not only because of their current performance but also due to the broader economic shifts, including the acceleration of e-commerce and the ongoing transformation of workspaces.

The report also explores broader themes shaping wealth distribution and investment strategies. The United States remains the global leader in wealth creation, accounting for nearly 40% of the world’s wealthy population. While North America and Asia remain dominant, Africa is emerging as a new hub, thanks to its young population, abundant natural resources, and improving infrastructure.

Another major theme is the rising mobility of wealth. Cities such as Miami, Palm Beach, and Aspen are benefiting from this shift, experiencing supercharged growth in their housing markets as affluent individuals seek new residences and investment properties. This growing mobility is matched by government efforts worldwide to attract or control wealth inflows, through tax incentives or regulatory adjustments.

A key dynamic underway is the generational transfer of wealth. Baby boomers still hold the majority of global wealth, but the transition to younger generations is progressing steadily. Knight Frank’s Next Generation Survey and its survey of 150 global family offices show that younger investors increasingly prioritize purposeful and sustainable investments, even as political narratives in some countries, like the United States, show a pivot away from environmental, social, and governance (ESG) goals.

The sustainability agenda is another thread running throughout the report. Climate change concerns are shaping investment decisions in sectors ranging from vineyards and luxury yachts to prime residential markets. The report emphasizes that the future of both luxury markets and commercial real estate will be increasingly defined by sustainability and resilience to climate risks.

For high-net-worth individuals (HNWIs) and ultra-high-net-worth individuals (UHNWIs), the report shows continued resilience. In 2024, the number of individuals worth over $10 million grew by 4.4%, with North America seeing a 5.2% increase. This wealth expansion is expected to continue, though it may increasingly be met with regulatory and tax responses, as governments face rising debt levels and budget deficits.

The report also notes shifts in investment priorities. While direct real estate holdings account for around 22.5% of a typical family office’s portfolio, more than 40% are looking to expand these allocations over the next 18 months. Living sectors, logistics, and luxury residential markets lead the demand, with positive price growth forecasted in key luxury residential markets throughout 2025.

Investment strategies are also diversifying across geographies. While some family offices focus heavily on domestic real estate—particularly in markets like the United States, Australia, and New Zealand—others, such as those in Switzerland, Hong Kong, and Singapore, maintain highly international portfolios.

One of the report’s critical cautions is around market bubbles, particularly in sectors like artificial intelligence, which saw dramatic valuation swings following the release of new AI models from China. The report draws parallels to the dot-com boom and bust, warning that while investors may be correct about the transformative potential of new technologies, they often misjudge the timeline to commercial success.

In summary, The Wealth Report 2025 presents a detailed picture of a global investment landscape shaped by resilience, adaptability, and a continued appetite for real estate, even in uncertain times. Private capital is positioned as a crucial driver of market activity, not only in traditional sectors but increasingly in emerging and alternative assets. The report underscores that while risks abound—from geopolitical tensions to shifting regulatory environments—the prospects for those willing to navigate complexity remain strong, with real estate standing out as a sector of both opportunity and challenge.

Poland’s developers’ sales performance in the first quarter of 2025

According to a survey by the real estate website dompress.pl, property developers sold a significant number of flats in the first three months of 2025, with sales results compared both to the previous quarter and the same period in 2024 showing varying dynamics across companies. While some developers reported meeting or even exceeding their sales targets, others noted results that were slightly below expectations, reflecting differences in market strategies, project locations, and buyer demand. The detailed figures and company-specific comments provide further insight into how developers navigated the start of the year, setting the tone for their performance in the months ahead. For more information, the companies’ comments included in the full text offer additional context.

Tomasz Kaleta, Managing Director for Sales and Marketing at Develia
In the first quarter of 2025, we sold 951 flats on the basis of development and preliminary agreements, which, despite a 8% year-on-year decline, we consider a very good result. It is worth noting that the first quarter of last year was a record one for Develia, supported by intensified purchases in connection with the expiry of the 2% Safe Credit programme. Compared to the third and fourth quarters of 2024, the result for the first three months of this year represents an increase, confirming the gradual recovery of demand.

We are consistently implementing our business strategy, which assumes the sale of 3,100-3,300 apartments in 2025. We expect that the announced interest rate cut will be an important factor supporting the residential property market in the second half of the year.

Zbigniew Juroszek, President of the Management Board of Atal
In the first quarter of 2025, 348 development and preliminary agreements were concluded. In the same period last year, the result was better by 369 flats, and in Q4 2024 by 97 units.

These figures, especially in relation to Q1 2024, are subject to a high comparative base, which results, among other things, from the different market situation, including the ending effect of the implementation of government subsidies for loans. On the other hand, the unclear situation regarding their continuation, and above all the very unfavourable financing conditions for purchases and high interest rates on mortgage loans, had a negative impact on the results achieved. For these reasons, they deviated from the company’s assumptions and expectations.

Mariusz Gajżewski, Head of Sales, Marketing and Communication, BPI Real Estate Poland
In line with our assumptions, we recorded satisfactory sales results in the first quarter of this year, maintaining the momentum from the end of last year. The completion of three of our investments – Czysta4 in Wrocław, Bernadovo in Gdynia and Panoramiqa in Poznań – had a key impact on our sales, strengthening the offer of apartments available immediately, which is highly valued by customers in the current market conditions.
Compared to the fourth quarter of 2024, we maintained a similar level of sales, while compared to the first quarter of last year, we recorded an increase, mainly due to the larger volume of finished apartments on offer.

Katarzyna Mirota, Head of Sales & Marketing, Matexi Polska
In the first quarter of this year, we concluded a total of 71 development agreements with customers (43 in Warsaw and 28 in Krakow). Currently, there is considerable interest in the market, but the decision-making process of customers is taking longer, which meant that our sales in the past quarter were slightly below plan. In the second quarter of this year, we plan to launch two new investments and, as a result, increase our sales volume.

Piotr Ludwiński, Sales Director at Archicom
In the first quarter of 2025, we sold 530 units, which represents a 29% increase compared to the same period last year, when 410 agreements were concluded. Of all transactions, 60 related to projects carried out by Archicom for the Echo Investment Group.

This result confirms that our offer effectively meets the current needs of customers, both in terms of location and apartment layouts. The sales dynamics achieved is high in relation to the entire market, which confirms the effectiveness of our strategy of geographical diversification and consistent expansion of our portfolio with projects from the popular and premium segments.

Joanna Chojecka, Sales and Marketing Director for Warsaw and Wrocław at the Robyg Group
The first quarter of 2025 shows that we are continuing to maintain our planned pace of operations. We have ambitious plans and are implementing large investments, regardless of the market situation.

In the first quarter of 2025, the TAG Group signed over 470 preliminary and development agreements and an additional 200 reservation agreements, which are soon to be finalised as development agreements. Approximately 390 preliminary and development agreements and approximately 200 reservation agreements were signed.

In Q1 2025, the TAG Group completed and recognised nearly 350 units in its revenue, approximately 250 units were handed over to customers, and 130 units were put up for rent. Over 180 units were completed and handed over. In total, in Q1 2025, the TAG Group in Poland had approximately 7,300 residential and commercial units under construction. The Group’s portfolio of rental apartments amounted to over 3,350 units. We currently have approximately 1,900 units on offer.

Andrzej Gutowski, Sales Director, Ronson Development
In the first quarter of 2025, we sold 96 units, which is fully in line with our sales plan. Given the current market situation, we deliberately set a more conservative target than in the same period last year and in Q4 2024. We set realistic targets for this period and consistently implemented our sales strategy, particularly in our two most popular developments: Ursus Centralny and Miasto Moje.

Łukasz Šedovič Sales Director at Trust Investment S.A.
Despite the numerous market challenges currently facing the real estate industry, our company achieved satisfactory sales results in the first quarter of 2025, maintaining the level of 116 transactions, exactly the same as in the fourth quarter of 2024.

Although we are seeing a slight year-on-year decline, we are closely monitoring the growing trend, which allows us to look ahead to the coming months with optimism. We believe that thanks to innovative solutions, such as a loan subsidy programme, a flexible offer and a consistent presence in attractive locations, we will be able to maintain and increase the pace of sales. This shows that even in challenging market conditions, a well-tailored strategy and openness to customer needs bring real results.

Tomasz Czuchra, Vice-President of the Management Board of Waryński S.A. Holding Group
Sales of our latest investment, Stacja Ligocka in Katowice, only started in the last month of the first quarter of this year. Last year, in line with the adopted schedule, we did not sell any projects and focused actively on preparing a new offer and developing our investment potential.

Stacja Ligocka is an important step for us towards expanding our presence in regional markets and a new chapter in our operating activities. Already at the start-up stage, we are seeing considerable interest in the investment, which allows us to look forward to the results in the coming months with optimism.

Damian Tomasik, President of the Management Board of Alter Investment
Our first quarter results are in line with our assumptions and we expect market growth to accelerate in the second half of the year. We also plan to put more land up for sale in the third quarter of this year.
Currently, we only have two plots of land with building permits on offer. The first is located in the beautiful Warmia region in the municipality of Jeziorany. The project involves 19 single-family houses and unique access to the shore of Lake Ławki. This is a premium project for demanding investors. The second plot consists of eight semi-detached single-family houses. This is the first stage of a housing estate near Gdańsk in the village of Pomlewo. This project has also been designed to a high standard, due to the niche we have identified in the market.

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