According to global standards, a luxury property should be understood as a property with a value above 1 million dollars. In the light of these criteria, the situation on the Polish Premium real estate market is unfavourable, but the forecasts are optimistic. What does the market look like at the moment and what are its chances for development?
Compared to Western Europe, our country is characterised by a low level of prices and a small number of units with a standard which qualifies as luxurious. In the largest Polish cities, apartments – a commonly understood symbol of luxury – constitute from 4 to 6 percent of all residential units under construction. There are two subcategories to be distinguished here: upper-middle apartments and high-end apartments. The classification of buildings into individual segments is determined primarily by location and quality factors.
-In this or other classification of apartments, the price criterion is of course of the utmost importance, although some analysts exclude some units from the segment of apartments on the basis of their usable floor space. This method is somewhat controversial and not always fair, especially under Polish conditions .
It is worth noting in this context that the prices of these units in the developer state start from PLN 1 million and the most expensive transactions reach the level of nearly PLN 10 million.
