Polish luxury suite market worth PLN 450 mln - report

Polish luxury suite market may be worth PLN 450 million, a report complained by KPMG and REAS showed. As much as 90 percent of the value of the entire Polish luxury real estate market accounts for the luxury suite market, which corresponds to PLN 440-460 million, according to the report. Prices range from PLN 1 million to PLN 10 million for the whole suite, the average stands at PLN 16,500 per sqm, the survey indicated. Warsaw is the most significant market. As of the end of the first quarter, over one third of sold luxury suites were located in the capital city. Between 2009-2014 out of 3,000 developed apartment buildings, 400 were luxury suites.