Luxury Appreciated

Wanted: Luxury

Wanted: Luxury

Developers argue that interest in luxury apartments is growing and there is no indication that this will change. After World War II, construction had to develop at an incredibly intense level in all of Poland’s cities, however no building before 1995 can be considered a luxury apartment, according to a KPMG and Reas report entitled: “The market for luxury real estate in Poland”. Now, however, such buildings are being constructed en masse. The development of exclusive apartments began in Warsaw in the second half of the 1990s triggered, among others, by a demand for such property by wealthy Poles returning from emigration and the new financial elite: bankers, businessmen, stars of stage and screen. The next period of the rapid development of the real estate market was a boom in the housing market in 2006-08. It was dominated by many foreign real estate companies moving into the Polish market and heralded a slew of luxury residential ‘towers’: Złota 44 and Cosmopolitan in Warsaw; Sea Towers in Gdynia and Sky Tower in Wrocław.
nieruchomosci.pb.pl