Is selling a flat in an older building more difficult?

Growing interest in flats in modern developments often makes units in older buildings less attractive to potential buyers. In reality, however, flats in large-panel blocks (wielka płyta) or tenement houses still attract considerable interest. Why is that? Read on and find out!

Technical condition of flats in older buildings

One of the key factors affecting the sale of flats in older buildings is their technical condition. Some of these units need renovation or modernisation. This in turn can put buyers off, because for many people the cost of bringing a flat up to modern standards may be too high. On the other hand, investors see potential in old flats that they can make use of.

Location and infrastructure

Location has a huge influence on the popularity of flats in older buildings. In the centres of large cities there is little free land on which new housing estates can be built. That is why most developments are built on the outskirts of cities or in their less prestigious districts. Meanwhile, units in older buildings are often located in the very centre or in well-connected areas, which gives easy access to workplaces, schools, shops and transport infrastructure.

Price versus demand

Flats in large-panel blocks or in tenement houses are usually cheaper than new flats of a comparable floor area. The difference in price can be well over ten per cent. It is no wonder that for many people buying a property in an older building makes more financial sense. At the same time, flats in tenement houses, thanks to their unique architecture and often prestigious location, can reach the highest prices on the market.

The character and unique atmosphere of flats in older buildings

Flats in old tenement houses have a unique charm that is hard to find in new developments. Stylish finishes, stucco, wooden parquet floors, large windows or ornate doors can attract those who are looking for unique interiors with a history.

How can you make a flat in an older building more attractive?

To make selling a flat in an older building easier, it is worth taking a few steps that will increase its appeal in the eyes of potential buyers:

1. Even small changes can significantly raise the value of a property. Replacing the wiring and plumbing, painting the walls, or modernising the kitchen and bathroom can give the flat a completely modern look.
2. Professional preparation of the flat for sale can work wonders. Arranging the interior in an attractive and functional way will let you present the space better and bring out its potential.
3. It is important to give honest information about the technical condition of the building and the flat. Hiding problems can only discourage buyers at a later stage of the transaction.

Summary

Flats in older buildings have their own unique assets that attract buyers. Of course, to get the best price it is worth taking care over how the flat is presented. Well-organised home staging and professional photos can greatly increase the chance of quickly finding a buyer.

If you need help selling a flat in an older building, get in touch with me. As an estate agent in Katowice, I can help you sell the flat efficiently.