Development of Social Building Societies in Poland
The article describes a genesis of Social Building Societies in Poland starting from National Housing Fund through Workers Housing Estates Society in 1934.1939, announcement of cheap building system in New Housing Order in 1993 to Barbara Blida's and Irena Herbst's legislative initiative leading to establish Social Building Societies in 1995. According to International Permanent Social Building Committee social housing consists in supply houses with fixed minimum standard of comfort and equipment, for rent or sale for persons who can not afford a house at market price without assistance of state or social organizations. In Poland Social Building Societies can not supply houses for sale but only for rent. State assistance in supplying houses for rent consists in establishing purposeful fund and providing it with financial means to allow credits on preferential conditions. National Housing Fund allows Social Building Societies large, cheap and long term credits, bearing interest at a half rediscount rate in NBP but not lower then 4,5%. Social Building Societies solve housing shortage problem by transformation of existing housing needs in demand, anticipating average households future incomes to pay off credit during almost 30 years. Social Building Societies are like a hybrid, because they have to fulfil social mission as well as maximise financial profit from their activity. Construction of Social Building Societies lead to creation of a closed market on which Social Building Societies play on demand side on building market as well as on supply side on housing market. In the article the author describes Social Building Societies. activity from legal side as well as on financial side including status, organization forms, territorial location, financial source for their activity, rent policy, housing assets management, SWOT analysis and criteria of Social Building Societies investment projects evaluation.