Demand for luxury apartments on the rise – Reas

The demand for and supply of apartments in the “upper middle” and “high-end” segments of the residential market, which are typically priced more than PLN 17,000 per sqm, has been growing this year. According to Reas, a total of over 470 such units were sold in Warsaw, Kraków, Wrocław, the Tri-city and Poznań in the first three quarters of 2017, which is more than in the entire year 2016. The combined value of the transactions amounted to PLN 222 million. Those buying high-end apartments in Warsaw had to pay an average of PLN 31,000 per sqm. Every third luxury apartment sold in downtown Warsaw in Q1-Q3 was in the Złota 44 skyscraper. “For the second year running, this investment by BBI Development and Amstar is the sales leader in luxury apartments,” said Paweł Sztejter, a partner at Reas. Mennica Residence in Warsaw’s Wola district was the best-selling project in the “upper middle” segment.

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