As early as by the end of 2016, the first residents will receive the keys to apartments at ZŁOTA 44 – one of the tallest and most luxury residential towers in Europe. Some of them will be foreigners and Poles living permanently abroad who are purchasing apartments for their own use or for investment purposes.
Warsaw is a fast growing and exciting city and Poland is currently the sixth largest economy in Europe. Moreover, reports reveal that Polish economy is considered one of the most attractive in Europe in terms of investments. It is clearly visible on the real estate market where, as a result of the attractive quality‑price ratio, the flagship Polish project – ZŁOTA 44 – is exciting the interest of investors from all around the world. International media present it as the symbol of the new Warsaw, and analysts recommend it as a capital investment with a high rate of return. – The purchase of a luxury apartment is more and more frequently considered an excellent investment. For several years now, the choice of this market segment has been regarded as one of the safest investments and the most resistant to market fluctuations — says Paweł Sztejter, managing partner of REAS.
Who is the buyer of ZŁOTA 44?
Charles Weston Baker, Director of International Property at Savills International, sees three main types of investors interested in buying an apartment at ZŁOTA 44: Poles, including those living abroad, for instance, in the UK, businessmen working in Warsaw, and finally investors keen on safe investments who are now searching for the next booming market. – We have quite a few regular clients who will buy apartments in six or ten European cities. They’ve planned to buy an apartment in Berlin but I think they’re going to switch to Warsaw because of the increased yield and the dynamic economic growth, – said Charles Weston Baker, Director of International Property at Savills International. Gross rental yield in Warsaw is 8.5 per cent, significantly outperforming achievable yields in many other large European cities, such as London (2–5.5 per cent), Paris (3–4 per cent), Berlin (3–4 per cent), or Budapest (6–7 per cent). This makes ZŁOTA 44 a very attractive investment.
In addition, buyers who want to be hands-off with their rental unit, especially those from outside Warsaw and Poland, will be able to use the services of Mzuri – the leader of the Polish market in property management on the owner’s behalf. As the exclusive partner of ZŁOTA 44, Mzuri will provide unit owners with comprehensive agency services related to everyday apartment care or tenant management.
Poland’s advantage as compared to Western Europe consists in relatively low prices, yet only few Polish apartment projects meet the top‑level standards of world‑class luxury in terms of space and interior fit‑out quality. Because of the quality‑price ratio, the flagship Polish projects, such as ZŁOTA 44, are attracting the interest of investors from all around the globe. In Warsaw, a luxury apartment finished to the top world‑class standard costs much less than in the Western countries. Prices here are eight times lower than in London, three times lower than in Paris, and two times lower than in Moscow. In the case of ZŁOTA 44, the average apartment price is PLN 28 thousand per square meter. This is the “all inclusive” offer, taking into account all the costs of purchasing the apartment, including taxes, the luxury finishing, and the access to the recreation areas in the building.
Not just an apartment
Clients of ZŁOTA 44 are buying much more than just an apartment with luxury fittings – they are gaining unlimited access to amenities available just outside their doorstep. On 8th floor, at a space of 1,400 sq. m, the residents will have at their disposal, among others, a 25‑meter pool – the largest pool inside an apartment building in Poland, fully equipped gym, massage rooms, Finnish sauna, steam bath, and cinema with a golf simulator. In addition, the ground floor will comprise a stunning entrance lobby designed by Daniel Libeskind with a 24‑hour reception and concierge desk, a wine‑ageing cellar along with wine tasting rooms, and the finest restaurants. The project was also joined by Harrods Estates – an elite London-based agency, which will advise on building management and concierge services for ZŁOTA 44.
But there is still more. The clients of ZŁOTA 44 conduct professional activities, travel often and lead an active lifestyle. Therefore, they appreciate the downtown location of the tower. The positioning in the city center and the proximity of the airport but also of places when you can meet with friends constitute an important factor in making the decision on purchasing an apartment. Buyers are also more and more often coming to appreciate the changes taking place in Warsaw, which enable the city to become more appealing and offer an ever improving standard of living. The properly developed, bustling embankments of the Vistula River as well as parks and green areas attract many locals and tourists. Moreover, as a city embracing the healthy and active lifestyle, Warsaw is constantly growing its bicycle sharing system and expanding its cycling paths.
Luxury tower with international recognition
ZŁOTA 44 is the first project in Poland to provide an unmatched living experience with comfort and convenience that is unique across Central and Eastern Europe. – No other building in Poland provides such an abundance of amenities of such exceptional quality and such a range of apartment interior design variants. To us, it is very important to understand each client’s individual needs and to satisfy them in a way that makes purchasing an apartment at ZŁOTA 44 a source of pleasure, just like buying a luxury car or yacht. – said Rafał Szczepański, Vice President of BBI Development S.A.
Hence, no wonder that the most prominent foreign press titles such as The Telegraph, Bloomberg, The Times, or The Wallpaper have also noticed the attractiveness of our market and place Warsaw along with its flagship building in the lead of top investments. They describe ZŁOTA 44 as one of the most interesting projects in Warsaw, considering it both an attractive investment and unique place to live. „Recent property developments compare favorably to luxury high-rise residences in cities such as London, Berlin and Paris, where values often soar into the tens (and occasionally hundreds) of millions. The strong economic position of Poland offers attractive returns on investment, which is increasingly evident in the property sector. As the city continues to modernize and grow, the surrounding property and land values steadily increase.” Bloomberg. They also highlight that the residential tower in Warsaw is on par with the finest developments in the world and will provide a benchmark for luxury living in Poland and the needs of the UHNWI. „At 192 meters-high and with 52 storeys, Zlota is the tallest residential building in Europe and, when complete, the 52nd floor penthouse will offer its buyer the loftiest bed in Europe” The Wallpaper.