Buyers looking for new luxury homes in Poland will find them in the portfolios of a whole range of developers active in the country. Those include both small specialised companies and some of the largest residential developers present in the Polish market.
Developers that build luxury residential projects in Poland are most often specialised in the field, one reason for this is the fact that the most exclusive residential projects in the market tend to be small schemes which, despite featuring very high margins, bring relatively small nominal gains.
Large market players hope for nominally large revenues, and those can only be obtained in the case of large projects where even if the margins are lower, they are compensated for by the [higher] number of apartments.
Developers that focus solely on the luxury market include Eko-Park, which is behind the eponymous housing project in Warsaw’s Mokotów district. Also the current offer of Myoni Group consists only of luxury developments – in Warsaw and Gdynia on the Baltic Sea.
Of course, there are exceptions to this rule, with some developers present in the mid-market and luxury residential segments alike. Companies like Dom Development have delivered thousands of relatively cheap housing units in Warsaw over the last few years, but is also behind two of the most expensive and most prestigious residential developments in the Polish capital.
Smaller companies that develop both luxury and more affordable apartments include Magnus Group, which is active in the highly popular Warsaw district of Białołęka and has also developed the luxury Rezydencja Piękna Nova and Szósty Zmysł investments in the capital’s downtown.
Real estate market analysts point out that the development of luxury residential projects, whether by regular housing developers or companies which specialise in that specific kind of products, requires the employment of special tools and know-how.
Katarzyna Lubaś, an analyst at redNet Property Group, noted that a unique location, often in a city’s historical center and close to prestigious institutions, is a more important factor than apartment price for potential buyers of luxury homes.
The old adage is still true… location, location, location!