This has not been the case for a long time: real estate sellers offer home buyers 35,000. euro discounts

There was a discussion on the social network about how much can be negotiated when buying a home.

“I’m looking for an apartment in Vilnius, I’m looking at ads for both new and old buildings. Some apartments really don’t seem worth the high price. So, is it possible to negotiate?” asked Povilas from Vilnius.

This question of his received the attention of commentators, people assured that it is always necessary to negotiate.

“After all, you won’t lose anything, really negotiate. If the seller wants to sell the house quickly, he will definitely agree to lower the price. Also take a good look at the home. Both new and old construction housing can have disadvantages. Therefore, taking this into account, the seller should also give you a discount,” the commenter advised.

Another man even offered a plan to secure a discount.

“Ask several friends to call the same seller, have them all list the same flaws, why the home is not worth the asking price.” The seller will really have to think about it, it is likely that if you show a desire to buy, he will give you a discount,” the man advised.

At the time, another commenter testified that she suspected that sellers always quote a higher price.

“Recently, I bought a house, which reduced me by 4 thousand. euros without any language. I think the sellers, somewhat puts onso that they can easily lower the price later,” the woman wrote.

Sellers willingly reduce prices

Real estate broker Tomas Rusak said that now the sellers are willing to negotiate.

“However, it all depends on the price of the housing and on the object in general. The higher it is, the higher the price, so in such cases, sellers discount more.

For example, if the apartment costs 200-250 thousand. EUR, it can be negotiated for 10-15 thousand. euros”, the real estate specialist calculated.

He noticed that in the past, the developers who were carrying out new construction were incommunicado.

“However, it is now possible to negotiate with them. For example, we recently reserved three apartments from one developer with one buyer. The buyer bought them for investment. And from the total amount, he received almost 35 thousand. EUR discount”, said T. Rusaks.

According to him, the expectations of the sellers have decreased.

“The prices of apartments in bedrooms in Vilnius districts have become real. In addition, if a person is in a hurry to sell, wants to do it as soon as possible, he should always sell at a real price.

I am currently selling a number of objects at affordable and realistic prices. However, those real estate objects do not attract interest. Therefore, if a customer comes and offers a real price, the sellers will definitely talk to him”, the real estate broker assured.

He calculated that the prices of housing for sale recently fell by about 5-8 percent.

“However, everything still depends on the seller’s motivation. For example, if even newly built housing cannot be sold quickly, the developer will surely lower the price for them after getting specific buyers.

Of course, I’m not talking about such cases when 300,000 is asked for housing. euros, and the buyer wants to pay only 200 thousand. euros, then no one will talk to him”, warned T. Rusaks.

Spends on housing from 151 thousand. euros

A survey of the capital’s residents initiated by the real estate development company “Darnu Group” showed that the allocated and planned budgets for the purchase of housing have grown significantly over the past few years.

A total of 42 percent surveyed Vilnius residents have purchased or are planning to purchase housing worth 151 thousand. and more euros, and for luxurious ones, from 351 thousand. 5 percent are looking at homes costing EUR. study participants.

A significant part of the population also states that their needs for housing area, location, price and year of construction have changed.

The research revealed that the largest part of the respondents (36%) purchased or planned to purchase 101-150 thousand. EUR housing, 28 percent. – 151-250 thousand euros, 20 percent – up to 100 thousand euros, 9 percent – 251-300 thousand euros, 5 percent – more than 351 thousand euros, and the rest did not specify the amount.

For comparison, in a similar study in 2022, 21 percent respondents chose housing up to 90 thousand. EUR, between 91-110 thousand euros – 19 percent. respondents, 111-140 thousand. EUR and 141-200 thousand. 20% each in the value of euros. Vilnius residents. A larger amount than 201 thousand. 14 percent were inclined to spend euros. study participants. Even earlier – in 2020 – 87 percent. respondents looked at cheaper than 140 thousand. houses worth EUR.

“Budgets are growing for objective reasons – the improving financial capabilities of the population and the rapid rise in prices related to the cost of construction, inflation that took place until last year, and the relatively small housing stock in the capital.

Despite the fact that housing affordability challenges are faced today, a significant part of buyers have adapted to today’s situation and are ready to allocate more funds when looking for housing”, said Mykolas Čiplys, head of sales and rent of Darnu Group.

The number of transactions is in the lowlands

The beginning of the year is not usually very active in the real estate (NT) market. The first month of this year, in terms of the number of registered real estate transactions, was even the most modest in the last few years, and in February we did not see a market revival either, announced the Center of Registers, which analyzes registered real estate transactions.

“Even though February had 29 days this year, it is still the shortest month of the year. Nevertheless, the number of changes in the owners of real estate objects was slightly higher than in January.

If we only compare the months of February, the last winter month of this year in terms of the number of apartments or houses registered was also the most modest in the last few years – there are no signs of a market recovery yet. Let’s hope that we will see a more active market in the spring”, said Paulius Rudzkis, Data Analyst of the Registry Center.

During the first two months of this year, a total of 13.5 thousand were registered throughout Lithuania. of real estate objects transferred through purchase and sale transactions – 10.1 percent. less than in January-February 2023, when 15 thousand were registered. Sales of real estate objects. Almost 7 thousand were registered in the month of February alone. Changes of real estate owners – 7.2 percent. less than in February last year (7.5 thousand real estate objects), but 7.4 percent. more than in January of this year (6.5 thousand real estate objects).

This year, 3.8 thousand were registered throughout the country. apartment sales – 11.4 percent. less than in January-February 2023, when 4.3 thousand were registered. apartment transactions. During the month of February alone, 2 thousand changed owners. apartments – 10.7 percent. less than last February (2.3 thousand apartments), but 13.1 percent. more than in January of this year (1.8 thousand apartments).

Almost 1.3 thousand people were registered in Vilnius this year. of apartment sales, or 16.5 percent. less than in January-February 2023, in Kaunas – almost 560 (10.6% less), in Klaipėda – almost 330 (7.6% less).

This year, 1.2 thousand were also registered in Lithuania. sales of individual residential houses – 9.7 percent. less than in January-February 2023, when 1.3 thousand were registered. home sales. In the month of February alone, almost 620 householders changed – 8.7 percent. less than last February (680 houses), but 3.9 percent. more than in January of this year (600 houses).