Hi

I have a question regarding the pricing of an apartment I intend to sell in Poland. If anyone who has been through the process has any advice on this ...

The prices of flats in news builds on the primary market are generally given for black finish per square metre, and without kitchen or parking.

Once my flat is completed, it will obviously already have white finish and a kitchen (as well as parking).

How should pitch the price? Firstly, should I factor in the finish and kitchen? This seems sensible since I will be competing against the developer who is selling flats with no finish or kitchen.

Secondly, therefore, should the finish and kitchen be 'included' in the price per square metre (which will make it seem quite expensive relative to unfinished flats, although a note could obviously be made that these are included), or should I list the price as for black finish, and add on a lump sum for finish and kitchen (seems clumsy...).

Cheers,

Richard (Prague)

Richard

It will all depend on how the property is advertised. If the price per m2 is shown people might be turned off immediately.Make sure that it is clearly advertised as a finished property. Most developments in Poland sell as developers standard (black finish),however locals now tend to be looking more for the finished property.

Your price should be calculated on the current rate the developer is charging plus all costs to fit-out and margin. I would suggest that you investigate the price that you paid for completing the property as the main developer usually charge more than what a local can get the work done for.

Best Regards
Roy

Most apartments that are advertised as completed just use the sq metre price ... or the total price without the sq metre e.g. 2 bed flat, the name of the street, completely finished and ready for occupation.

On a separate note, why would you finish and put furniture in an apartment which you were going to sell? I doubt you will retrieve your extra investment ...

From what I can see the additional cost of final finish & kitchen does not reflect in a higher resale cost per m2!

I would not finish any CEE apartment if I intended to sell straight away again. Learnt my lesson!

Discussing the price to pitch my flat at with I-PS, the advice seems to be to pitch it at a level that completes with the others flats (in later phases) which the developer is selling. He, of course, is selling with black finish only whereas mine will be have white finish and kitchen. My price would not then relfect the costs of finish and the kitchen, so the last poster seesm to be right - your sell price probaby won't relfect those extra expenses.

With Future City phase 1, we were incredibly lucky since finish and kitchen were included in the price (!) so I don't actually lose out. A buyer however will be lucky since he gets those things for 'free'.

It will interesting to see who will buy in the coming months!