The premium residential market in Tri-City
2021 brought a surge of interest in Poland’s premium residential segment. Is the demand for premium apartments able to sustain in the worsening economic conditions?
- Aleksandra Gawrońska
The premium apartment segment in Poland has grown very dynamically in recent years. One of the main reasons for this change is the increase in income and savings of Poles who were looking to improve their standard of living or second home. The development of the short-term rental market in major agglomerations and the increasing scale of thesaurisation demand were also important factors. 2021 saw a rapid increase in sales results. Almost 3,200 premium apartments were sold in the six largest markets, with over 900 units in Tri-City alone.
In Poland, Tri-City is becoming the second market after Warsaw in terms of the number of transactions and their value. The importance of Tri-City’s assets that are crucial for buyers, such as its unique waterfront location, accessibility to beaches and open woodlands, mild microclimate and clean air, as well as increasingly better transport links, will grow in the future along with the popularity of remote working, the speed of railway connections, and the development of the agglomeration’s business significance.
For the premium market in our country, the most important is the demand coming from Poland. The buyers are mainly Poles, but also foreigners with strong ties to Poland, usually in business. The near future of this sector will be based on the growth and enrichment of the wealthier part of the Polish middle and upper class. Even now, the buyers of the most expensive apartments come from this group.
Do premium apartments have the potential to keep value in the current macroeconomic conditions? Will the demand for premium real estate continue in the coming years? What are the opportunities and threats for the development of this segment?
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