4:39 7 June 2024
Luxury brands flock to Warsaw
Luxury brands are increasingly investing in Warsaw, drawn by rising wealth and tourism. CBRE's "Shopping Streets in Warsaw" report highlights this trend, noting a 37% increase in Warsaw residents' purchasing power from 2019 to 2023.
Key luxury shopping areas include Trzech Krzyży Square, home to Omega, Mont Blanc, Rolex, and soon Bulgari, and Piłsudskiego Square, which hosts various fashion boutiques and restaurants.
According to Credit Suisse, the average wealth per adult in Poland reached nearly $53,000 in 2022, up from $33,000 a decade earlier. This growth attracts investors to Warsaw's high-traffic streets. The influx of tourists, 4.6 million in 2023, further boosts demand, benefiting both retail and hospitality sectors. New luxury hotels like Barcelo Powiśle and Nobu Hotel cater to affluent visitors.
(Source: eurobuildcee.com)
