Negotiating - how low will developers go? (Krakow)

Hey,

I am currently looking at investing in a property in Krowodza district of Krakow.

It is relatively big (2 bed, 1 big bath with large open kitchen/salon) and large terrace (almost same size as the apartment).

Price as advertized - 8500zl for m2

In today's market for real estate in Poland, how far can I reasonably expect the developer to let up on the price?

Thanks

I assume you are not polish, and this is the first apartment you are going to buy here?

If so, be ready to run into so manu unproffesional people that you most likly want to quit...

For some of this people its better to let a apartment like this be empty for 3 years instead of selling it with a 10% dicount, even if "a similar apartment on the other side of the street" is sold for a prive equi to a discount of 12%

I dont know the pro you are looking at, but for sure the margin to the contracter is more then 15%, so it depends on 1) How long has the apartment been standing ready/empty, 2) How much is already sold, 3) How high up in the organisation is the person you are talking to (you need to speak to the boss)

I would never buy for that price to day, spes if the apartment is more then 25-28 m2! I guess 6.800 to 7.200 is aceptable (but it will ofcourse depend on how nice and smart the apartment is)

GL!

Invest in the meaning that you want to stop paying rent and start paying off a mortgage or in the meaning that you want to buy a place to rent out? If it's the latter, keep your money in the bank: prices haven't finished falling yet.

I am currently renting in Kazimierz for last 2+ years and am looking to start actually putting my money into my own place. I do have quite a bit saved so mortgage won't be ridiculous. I am Polish and have no problems talking to these developers.

This is a new building with mostly sold apartments. It is developer standard and I plan on investing a good bit into finishing it. Probably going for a garage space for 2 cars.