Poles are getting wealthier and the domestic economy is thriving, showing high economic growth. Lifestyle and the growing popularity of luxury products, including real estate – considered by many to be a safe investment – have also undergone significant changes. Warsaw stands out among other selected European cities by offering entrepreneurs competitive prices on the purchase of exclusive apartments.
The most prestigious addresses in the world are selling better and better
The demand for luxury apartments is growing with the wealth of the residents of the largest and most developed cities. If you compare the luxury residential markets of 8 global metropolises, potential and attractiveness of selected European and American cities, including Prague, London, Berlin, Paris, Vienna, New York, Chicago and Warsaw, it shows that Poland’s capital is offering luxurious apartments still in very attractive prices. The stable economic situation is conducive to investing in the purchase of new, exclusive flats.
It is possible to clearly identify the global trends that make the property attractive: prestigious location, security and privacy, breath-taking panoramic view of the city, implementation of the state-of-the-art technologies in the building, monitored parking spaces equipped with electric vehicle charging stations, access to the wellness centre with a swimming pool and gym, home cinema with golf simulator as well as top class concierge services.
Warsaw as a significant luxury real estate market
The situation in the luxury apartment market looks particularly attractive in the case of Poland.
The increase in the value of the real estate in Warsaw at the level of 16% (data from 2017–2018) is definitely good news for investors. Presently, prices in the capital city are on average between USD 5,600 – 9,500 per square metre, which also encourages capital investments in luxury apartments, especially as these are the cheapest apartments in the analysed cities. For comparison, in our Czech neighbours’ case, the purchase of an exclusive apartment, most often located in the historical centre of Prague, requires a much more significant investment, up to USD 18,000 per square metre.
Since the 1990s, more and more premium luxury apartment buildings have been built in Poland, especially in Warsaw, where they achieve the highest prices. The most desirable address in the capital is now the prestigious Zlota 44 skyscraper, located in the heart of the city, where solutions are in line with global trends for the exclusive real estate market. What is more, as per the real estate professional, there is no indication that a similar property will be built in the coming years.
“The Polish economy is developing at a rapid pace and Poles are increasingly willing to invest in luxury. At Zlota 44 we try to meet their most demanding expectations – we provide our clients with a prestigious location in Warsaw, top quality services and apartments finished with the highest quality materials.
Behind the price – reasonable compared to the capitals of other countries – that investors decide on, there is a unique investment and undoubted prestige” – Christopher Zeuner, Head of Europe Amstar.
Prestige, comfort and lifestyle – or why investors choose Zlota 44
Warsaw’s Zlota 44, which has from the outset attracted well-known names, foreign investors and Polish entrepreneurs, even those who live abroad, has all the listed amenities and even more. A strong emphasis was also placed on the visual aspect in the building – the skyscraper was designed by world-famous architect Daniel Libeskind, with interiors by the London-based Woods Bagot studio. Moreover, the apartments use green technologies including special air filters, appropriate acoustics, systems for maintaining a required temperature while reducing energy consumption by 20%.
There are places in the world such as Zlota 44, which offer residents an opportunity to experience a lifestyle of the highest world-class, countless amenities, but also an excellent investment, but Polish market is considered to be solid and relatively low risk. The return on investment can come significantly fast from two sources: letting the property and the appreciation in the value of the apartment in the future. What is more, affluent Poles are increasingly willing to move out of the rich, quiet suburbs, choosing a well-connected and developing downtown.
The Polish luxury real estate market is still growing compared to Western markets. To date, the market has been dominated by foreign investors, but with the growing wealth of Poles, their purchasing power also increases in the field of luxury properties. Zlota 44 continues to be one of the most prestigious residential building in Poland.
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