Timid Black Friday among developers: “The nerves’ war and wait for who will break first” is ongoing.
There are bargains and marketing opportunities, but to say that Black Friday is a chance to attract customers and present a wider range of offers in the real estate market would be an exaggeration. Developers across Poland treat the sale with a distance and although there are a few offers at lower prices, it is hard to say that the “holiday of sales” is much celebrated in the primary market.
No major promotions from developers. “Purchasing a flat is not like buying a dress”
Real estate market experts argue that the market is “waiting” and a “nervous war” is going on, with the stakes being who will break first: Developers lowering their flat prices or consumers applying more for loans or making purchasing decisions despite the lack of support programs from the Government of the Republic of Poland.
“Black Friday has never been a favorite holiday of developers because a flat is a type of goods where we cannot talk about seasonal price reductions, super promotions or end-of-line sales. There are occasional scenarios when specific companies propose price reductions and clearly shape it in their marketing offer,” says Mirosław Król, a real estate market expert.
However, promotions usually reach a few percent off. It doesn’t change the fact that transaction prices significantly differ from the offer, which is also a part of developers’ strategies.
“Customers should certainly master the art of negotiation before visiting a developer, broker or someone willing to sell a flat on the secondary market. Our experience shows that notarial act prices fluctuate from offer prices, which is another chapter in the aforementioned “nerves’ war.” The real estate market cannot afford to have a collapse or drastic price reductions impression; everyone agrees on that,” admits Mirosław Król.
Price reduction? No. Parking space: more often
Does this mean that developers are not preparing any special offers for customers in the real estate market?
“The real estate market is in a specific situation, but like in any industry, competition for customers is fierce, and sometimes even very fierce. However, it is usually about additional benefits in the form of, for example, a parking space, an additional storage room, a spot in the bicycle parking area, and sometimes even interior equipment. Such actions usually work with premium properties, but also in family locations where, for example, parking space is hard to come by or very expensive,” says Mirosław Król, a real estate market expert.
Black Friday will be on November 29. The ongoing fourth quarter of 2024 is considered by the real estate market to be one of the most challenging in many years.
Source: https://managerplus.pl/w-tej-branzy-nie-ma-black-friday-deweloperzy-nie-zamierzaja-obnizac-cen-37830
