Negotiating the price of an apartment does not mean asking for a random discount and hoping the seller agrees. A good negotiation starts long before the first conversation about money and relies on information, not on pressure. In this guide we show you the steps we recommend to the buyers we work with.
The goal is not the lowest possible price at any cost, but a fair price for a checked property with clear terms. Sometimes a flexible handover date or the furniture being included is worth more than a small discount.
Step 1: find the fair market price
Without a price reference every negotiation is blind. Start by comparing active listings for similar properties in the same area: the same number of rooms, similar size, similar year built and floor.
- Work out the price per square metre for each comparable listing.
- Note how long listings have been online. A property listed for a long time may have an asking price that is too high.
- Remember that the asking price is not the sale price. The gap varies from market to market.
On Empire Terra you can sort apartments for sale by price per square metre, and the price index shows averages calculated from the listings on the site. For a professional opinion you can request a free valuation.
Step 2: understand the seller's situation
Every seller has different reasons and deadlines. Someone who has already moved pays service charges for an empty apartment. Someone selling in order to buy another property needs a firm payment date. An heir may need time for the inheritance paperwork.
Polite questions at the viewing give you valuable information:
- How long has the property been on the market?
- Where is the owner moving and when?
- Have there been other offers? Why did they not go ahead?
- What stays in the apartment: furniture, appliances?
Do not use this information aggressively. Use it to build an offer that solves a real problem for the seller.
Step 3: build your arguments
A good argument can be checked. Instead of saying it feels expensive, say exactly what you noticed and what it costs to fix.
Technical arguments
- Old wiring or plumbing that needs replacing.
- Windows, doors or insulation that affect energy use.
- Signs of damp, cracks or leaks.
- A poor energy class on the energy performance certificate.
For each problem, ask a tradesperson or a company for an estimate. A written repair quote is a much stronger argument than an impression.
Market arguments
- Comparable properties listed at lower prices.
- A long time on the market.
- Features that reduce demand: floor, no lift, no parking, orientation.
Legal and paperwork arguments
If checking the land book extract shows problems the seller has to solve, such as a mortgage to be removed or an unregistered building, these affect your timeline and your risk. They can justify either a discount or extra conditions in the contract.
Step 4: make the offer
An offer is more convincing when it is in writing and contains more than a price:
- The proposed price and how you will pay: mortgage, own funds or both.
- The deposit you can pay at the preliminary contract.
- How soon you can sign the final contract.
- What is included: furniture, appliances, parking space.
- Conditions: mortgage approval, document checks, specific problems being solved.
An offer with pre approved financing and clear dates is worth more to a seller than a slightly higher but uncertain one. If you have a pre approval from the bank, say so.
Step 5: negotiate calmly, one step at a time
Do not open with an insultingly low offer. You risk losing the seller's trust. Start from a reasoned price and leave room to move. When the seller replies with a counter offer, do not rush. Analyse it and respond with new arguments or a concession on something else, such as the handover date.
Decide in advance the maximum price you are willing to pay and stick to it. The fear of losing a property is one of the most expensive feelings in a negotiation.
An illustrative negotiation
Suppose a two room apartment is listed at €120,000. The figures are round and only serve as an example. You compared five similar listings in the same area and noticed that the asking price per square metre is above their average. At the viewing you learned that the owner has already moved out and that the listing has been online for several months. A plumber gave you a written quote for replacing the bathroom pipes.
Your written offer could look like this: a price of €112,000, payment by mortgage with a bank pre approval, a deposit at the preliminary contract, signing the final contract within 45 days and handover with the kitchen furniture included. You attach the list of comparable listings and the plumber's quote.
The seller replies with €117,000. You agree to go up to €114,500 if handover happens right after signing, which saves the seller further service charges. You reach a deal in which each side gained something important to them. This is what a healthy negotiation looks like: verifiable arguments, small steps and concessions on things that matter differently to each side.
What you can negotiate besides the price
- Handover date: a quick or a delayed handover can matter a lot to the seller.
- Furniture and appliances: they can reduce your costs after moving in.
- Repairs: the seller can fix certain problems before handover.
- Transaction costs: in some situations the parties can agree how to split certain costs, within the law.
- Deposit amount: a smaller deposit reduces your risk if the deal stalls.
For a full picture of the costs, also read our guide to the hidden costs of buying a home.
Mistakes that cost you money
- Showing too much enthusiasm at the viewing. The seller can tell you are already convinced.
- Not checking documents before the preliminary contract. Any problem found after signing weakens your position.
- Negotiating only verbally. What is not written down can be forgotten or read differently.
- Revealing your maximum budget. Say what you offer, not what you could pay.
- Ignoring the cost of time. A long negotiation over a small difference can cost you the property.
The role of the estate agent
An agent who represents the buyer can bring market data, check documents and negotiate without emotion. If the agent represents the seller, remember that their main interest is their client. Always ask who the agent represents and how they are paid. An Empire Terra advisor can help you with an offer request tailored to your budget.
Frequently asked questions
How much can you negotiate off an apartment price?
There is no standard percentage. The margin depends on how fair the asking price is, on demand, on the condition of the property and on the seller's situation. Market data shows whether there is room to negotiate.
Should I make the offer in writing?
Yes. A written offer with the price, deposit, dates and conditions shows you are serious and reduces misunderstandings.
Can I negotiate on a new apartment from a developer?
Sometimes, especially when paying in full, buying several units or buying the last apartments in a project. The negotiation can cover price, finishes, a parking space or staged payments.
What if the seller refuses any discount?
Consider whether the price is still fair for you. If not, try to negotiate other terms or keep searching without going over the budget you set.
