Barcelona. Asking Price V Offer Price.

[inbarcelona]

Does anyone have an opinion on how much to offer on a property compared to the asking price in Barcelona?

Would the advice be applicable to both second-hand property and brand new? (or newly reformed)

I am looking at flats in a newly reformed property in Eixample.

If I give some examples of prices and size, could anyone offer any advice please?

1. Carrer Arago. Asking Price Euros 315000 Size 73.22 square metres with a balcony 8.34 square metres. 2 bedrooms and 2 bathrooms.

2. Carrer Corsega. Asking Price Euros 320000 Size 81.22 square metres with a terrace 22.53 square metres. 2 bedrooms and 1 bathroom.

3. Carrer Arago. Asking Price Euros 225000 Size 51.6 square metres with a terrace of 10.11 square metres and a balcony of 3.9 square metres. 1 bedroom and 1 bathroom.

What would be a reasonable opening offer on the above?
Any help greatly appreciated.

[Mark Stücklin]

Hi,

As you probably know, asking prices are now rising in Barcelona, up 8% since bottoming out in Q3 2013, and up 6% in 2014. They rose 4% in the Eixample – your area of interest. Vendors aren’t stupid and know this.

You can still find private vendors who need to sell and will accept a lower offer say 20% below asking price, but they are getting harder to find. You always have to make sure the asking price is reasonable, which is easier than ever to do these days using comparisons at one of the big portals.

Refurbished property from professional vendors / developers is harder to negotiate a discount as there is a shortage of this type of property in Barcelona, and professional vendors are even better informed than private vendors. 10% used to be common, but you’ll be luck if you get 5% now.

Bank stock is another category. Many banks will negotiate up to 10% discounts, but no longer in prime areas of Barcelona, if you can even find any bank stock there. If you want discounts you have to head out where there is a glut of property and few buyers.

Are these three properties refurbished or not?

Let us know how you get on.

Mark

[Author]

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