Housing fair presents high end products

The Luxury Housing fair - Apartments and Residences (Targi Mieszkań Ekskluzywnych 'Apartamenty i Rezydencje'), which took place 18-19 May, was the first event of its kind to be held in Warsaw (and in Poland) presenting ,high end" residential products. It was clear from the event that this sector of the market is witnessing supply levels which exceed demand, with developers preferring to locate their most expensive projects in the southern part of the capital.

"I thought the fair would be attended by more people," we heard from a disappointed exhibitor. ,The advantage of such an event is that the most of the products available can be seen in one place. You can also talk to developers in a nice atmosphere instead of chasing them around Warsaw. That's what's been missing until now," told us a satisfied customer who brought his whole family to the Prymasowski Palace, where the fair was held.
These two opinions reflect the impressions of visitors and exhibitors - words of approval mixed with criticism. Most of the people we spoke to liked the idea of the fair, their major concern being the low attendance.

Dubious selection
According to Kazimierz Kirejczyk, president of REAS, ,I don't think that this is the best way that people interested in purchasing an exclusive apartment can speak to a developer. If somebody wants to spend USD 150,000, they will not want to talk to an exhibitor who is sitting comfortably in a 2 metre by 2 metre stand, where the customer cannot even sit down. You don't sell a Rolls-Royce in a street market."
Kazimierz Kirejczyk also pointed out that the fair boasted what he called an inappropriate selection of exhibitors. ,There were some developers who I did not expect to see. Their product did not correspond with the topic of the fair, which showed a lack in consistency by the organisers. I got the impression that earning money was more important to them than presenting a good selection of developers."
Milena Wiśniowolska of Murator EXPO, who organised the fair, defended the event. ,'Apartamenty i Rezydencje' went just as we'd hoped. People were satisfied, and some exhibitors have already booked stands for the next fair to be held on 26 - 27 October. The formula will be the same, as I think it was a success, although we might organise more attractions." (The attractions included horses, a wine cellar, roulette and Miss Polonia - editor's note).

It's not about crowds
Murator EXPO explained that the lowest price of one sqm of flats offered at the fair could not be lower than USD 700 (less than PLN 3,000!). The most expensive residences cost as much as USD 3,500 per sqm. Milena Wiśniowolska also does not believe that attendance was low. "We expected to see 1,500 people, and in fact we had over 2,000 visitors! Information about the fair was sent out in co-operation with over 30 business organisations. Altogether we sent about 20,000 invitations."
Kazimierz Kirejczyk believes the Luxury Housing fair - Apartments and Residences was not a crowd puller. ,One shouldn't have expected crowds there," stresses the REAS president, ,the point is whether the right visitors appeared among those who did attend."

Varied exhibitors
There were over 50 exhibitors at the event, mostly developers, but also banks and real estate agencies. The fair was dominated with products from Warsaw, although visitors could also see what was available in other cities, e.g. Toruń.
"Toruń may be a good place to have an apartment if you want to conduct business in the north of Poland," Budlex's Jarosław Marcinkowski commented. He admitted that he did not have high expectations for much interest in his "Panorama" Residence. ,Our participation at the fair resulted from our desire to be seen in Warsaw. It was a typically promotional activity."
Sebastian Migdalski, who presented AIG/Lincoln's "Kampinos" Estate, said that this kind of fair is a good place to present projects. ,Our product is exactly the type of investment presented here and the fair is a good way of raising awareness of our project. Moreover, each form of sale is important, not only in a short-term perspective."