Buying a flat in Poland: what factors affect its price?

Deciding to buy a flat is one of the key moments in anyone's life. It is not an easy task, however, especially given the variety of listings available on the property market. There are many factors that affect the cost of buying a flat. In this article we discuss which elements are of key importance when setting the price of a property.

How does location affect the price of a flat?

The place where a given flat is located can significantly raise or lower its value. The reason is that location determines access to many important services and amenities such as schools, shops, hospitals, public transport, as well as cultural and recreational attractions. What is more, not only is proximity to green areas extremely important, but so is the safety of the area. It is therefore no surprise that flats in the city centre, especially in large urban areas, are usually more expensive than those on the outskirts. A flat with a view of a park or located on a higher floor may cost more than a similar property in the same building with a view of the courtyard. In addition, proximity to large cities also plays a significant role. The prestige and reputation of a given district can also affect the price of a property.

How does technical condition affect the price of a flat?

The technical condition of a flat is of key importance when setting the price. A flat that has recently been renovated or is well maintained usually costs more than one that needs refurbishing. A high price is also influenced by the standard of finish, including:

• the use of high-quality materials;
• modern technological solutions;
• stylish accessories and furnishings.

The elements mentioned above can attract potential buyers who are able to pay more for a flat that is ready to move into, functional and aesthetically pleasing. A low price, on the other hand, may suggest that the technical condition of the flat is poor and that buyers will have to bear additional costs for renovation and modernisation. That is why both buyers and sellers should analyse the technical condition of the property before deciding on a transaction.

The price of a flat and its size

There is no doubt that the price of a flat is closely linked to its size. Generally, larger properties are more expensive, but the price per square metre is not always the same. For example, for luxury apartments in the city centre it can be much higher than in flats of a similar size in less prestigious locations. It is worth remembering that the size of a property affects running costs. That is why, when making a decision, you should take into account not only the purchase price but also the level of energy and heating bills.

Summary

The decision to buy a flat should always be carefully considered. Above all, location, technical condition and size matter. The rules of the property market are complicated, so when buying a place of your own it is worth using professional services. Estate agencies in Katowice have experience and knowledge of the current situation on the local market.