According to a report by Henley & Partners, Poland—with Warsaw at the forefront—is among the fastest-growing markets for premium clients worldwide, registering an 83% increase in the number of wealthy individuals over the past decade.
Experts from CBRE point out that demand for luxury real estate in Warsaw is primarily driven by local entrepreneurs and wealthy individuals rather than foreign capital. This distinguishes the Polish capital from Western European metropolises, where the luxury market often relies on international investors and global trends. Luxury is still emerging in Warsaw—we do not yet observe phenomena typical of more developed markets, such as properties branded by well-known fashion houses or owning residences in multiple cities worldwide where business is conducted. In this respect, Warsaw today is closer to Prague or Budapest than to Paris or London. Luxury markets in Central and Eastern Europe are developing at a similar pace and remain dominated by local capital. Although each capital has its unique features, they share the fact that luxury is not yet a mass phenomenon but rather a niche market segment that is still building its identity and prestige.
“Nevertheless, in the capital, we can already point to specific locations that meet premium market criteria. Downtown, the areas around Łazienki Park, and the most prestigious parts of Powiśle are places where luxury investments are becoming increasingly visible. Asking prices in these locations can reach over 20 million PLN for the largest units, with price per square meter in individual cases exceeding 70,000 to 80,000 PLN. Importantly, in the most elegant buildings in Warsaw, we still see many transactions where apartment sizes are significantly smaller than in comparable foreign developments—often not exceeding 50 square meters—yet the price per square meter remains high. This clearly indicates the growing importance of the middle class, which can invest substantial sums in smaller apartments,” says Katarzyna Borkowska, Head of Residential Sales and Letting, Signature Estates, CBRE.
Warsaw has a long way to go before joining the ranks of global luxury centers, but the direction of development is clear. The rise in the number of millionaires, increasing aspirations of high-net-worth individuals, and changing expectations regarding quality of life and living space are making the Polish capital increasingly attractive for the premium segment. Warsaw does not yet compete with Milan or Zurich but is building its own definition of luxury—more local, conscious, and rooted in the realities of a dynamically developing market.
