If its advertised @ 25K what should you pay?

[jac8]

Just wondering in the current market, what price you could expect to pay for an apartment that is advertised at $25K. There seem to be loads of this apartment type (in a big development) advertised so what kind of price would be realistic?

Thanks, Jac

[wtbhotia]

how big is it, which area, how new is the building, what facilities does the building have, u should try to provide more info.

Just off the bat you could ask for 20K and work upwards.

[beachball]

Broadly agree with wtbhotia. Need more information, but if it is a "big development" with "loads of this apartment type", there will generally be less room for negotiation than there would be otherwise. Reason for this is that landlords have an incentive to be "honest" in their asking rent (no prospective tenant will ever look or bid for the place if there many similar and cheaper units available). For instance, in developments like the Belchers, Bel-Air, etc. asking prices are generally only 10% (at most 20%) above recent actual transaction prices, giving an idea of the potential for negotiation.

[Jennyh14]

i managed to neogtiate belchers apt down from 28 - 20, unfortunatley they woouldnt wait 6 weeks for the tenancy to start.
Just got another one - advertised 23k, down to 20k, started negotiating at 18k. Am hoping this one goes through- down to company efficiency now!
Start low, you can always make another offer, a bit higher if you need to.

[jac8]

Thanks for the replies, you guys are right on the money, it is The Belchers that I am talking about. Its a still a few months till we move so I am just still researching rather than negotiating at the moment. We are looking at the 3br 1100sqm or 1200 sqm apartments.

Wow Jenny 28K to 20K that is very impressive how on earth did you do that? I think we need a few tips from you!

Thanks, Jac

[Katiedot]

I managed to get my place (soho 700sf, newly renovated) down from 25k to 18k. I told them that was my maximum allowance and that I could move in two weeks, deposit ready today.

I think nowadays most landlords would go with the 'a bird in the hand' theory. Not so sure about the bigger developments, though but maybe worth a try.