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Residential
What stage of development is the Polish premium apartment market at? Is it in its infancy or has it learned to walk?
Marian Okręglicki, president of the board at Sawa Apartments: I would say that it is standing firmly on its own feet. Already quite a lot of such projects have been built, so clients are no longer shocked by high prices or luxury furnishings. Only 5-7 years ago few people would have believed that any apartment in Poland could be sold at PLN 18,000 per sqm and developers were also sceptical about the market for luxury apartments with few interested in entering into it. These days nobody’s surprised by a price that’s twice as high and the premium apartment segment has already started to segment. This means that not only are developers more and more eager to enter the sector but that they’ve already started specialising. How is the market segmented? It is easiest to define the categories by giving the prices, even though such a categorisation will be very simplistic and symbolic. Apartments priced in excess of PLN 8,000-10,000 are usually of a superior standard and we
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