The European luxury retail market experienced more moderate growth in 2024, following the significant advances in the post-pandemic period. Within this context, Romania stands out as a market with significant development potential in this segment, although the availability of suitable retail spaces presents a challenge, according to a Cushman & Wakefield report.

Marriott International has announced the signing of an agreement with J.W. Construction, one of the leading property developers in Poland, to bring the JW Marriott luxury brand to the country.The hotel will be located in the heart of Kraków’s city centre, housed in one of the city’s historical buildings.

The Polish luxury real estate market is relatively young, with its assets constituting only a small percentage of the overall housing market, while the value of this niche stands at around PLN 3.5 billion (€840 million), according to a Walter Hertz report. 

Romania’s hotel market has recorded transactions with an average value under €5 million over the past 18 months, according to a Crosspoint Real Estate report. 

Romanian developer La Gloire Elite is investing €8.5 million in a high-end residential building based in central Bucharest.

Romanian property developer Comnord Development will start in September the construction of a new luxury residential project in northern Bucharest, with a projected investment of €30 million. 

The new five-star Minaro Hotel MGallery offers 100 rooms in the world-famous wine region of Tokaj. This is Accor's first luxury hotel in Hungary outside Budapest.

Czech real estate fund Investika has decided to take another step in diversifying its real estate portfolio. Its latest acquisitions are luxury properties in Croatia for short-term rentals.

The influx of refugees has resulted in further demand on Poland’s already fast-paced residential market. At the same time, fears over a prolonged or escalated crisis might decrease investment activity in the short run. Bartłomiej Annusewicz, CEO of luxury residential real estate agency Lions Estate talked to Property Forum about the trends driving various segments of the market.

InterContinental Romania has finalized the hotel operating contract with IHG Hotel & Resorts so the name of the property in central Bucharest will be changed to Grand Hotel Bucharest.