Fashionably elegant and expensive; stylishly luxurious.
Originally from dialectal English 'swank' meaning 'to show off' (early 20th century). Possibly related to Middle High German 'swanken' meaning 'to sway.' The adjective form developed to describe ostentatiously elegant places or things.
Swanky perfectly captures that intersection of genuine luxury and showing off - it's not just expensive, but expensive in a way that's meant to be noticed. The word itself sounds like the click of expensive heels on marble floors.
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