Demand for luxury within historical walls is on rise: Ghelamco

Modern apartment buildings, even the most luxurious ones, are being built all the time, while the number of historical residences in Warsaw is very limited. Even in today’s uncertain times of economic slowdown, investors appreciate the value of this kind of properties, which is why the majority of the apartments available in Foksal 13/15 have already found their owners.

The luxury property market is enjoying continuous investor interest. In the first months of the lockdown, developers observed an increased interest on the part of customers as well as a substantial rise in the number of received questions about premium apartments. Subsequent months also saw growing sales. When buying properties, the investors choose the luxury apartments with the potential of long-term increase in value. The trend is confirmed by the sales results of Foksal 13/15 apartments. In Q2 2020, Ghelamco reported an increase of 250 percent in sales from last year.

“Investing in apartments located  in historical buildings may be compared to investing in precious metals, which gain in value during the crisis while other assets drop. The residences at Foksal have had the status of luxury town residences since the very moment they were built in the late 19th century. The revitalization has not only restored them to their former splendor, but they were also adjusted to the top modern standards expected of premium properties,” Jeroen van der Toolen, Managing Director CEE, Ghelamco, said.

(WBJ)