„The apartment was already on the market, the seller took down the ad and about a month later reposted it. In Vilnius, this happens in every third ad (32%). Often, the buyer does not even know how long the apartment has been for sale and how its price has changed,“ commented G. Vasiliauskas.
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In Kaunas, such reposted apartment ads in August were 23.5%, in Klaipėda – 22.3%.
Only two out of five reposted ads are cheaper
According to him, three out of five reposted apartments (59.1%) return at the same or even higher price, only two out of five – cheaper.
„An example from August: an apartment in Klaipėda cost 119 thousand EUR, was reduced four times to 114 thousand EUR, disappeared from the portal and after a month returned with a price of 129 thousand EUR. Like a new ad without history,“ the speaker gave an example.
Meanwhile, in Vilnius, Lazdynai, in June a 4-room apartment appeared on the ads portal with a price of 320 thousand euros – the price was reduced five times until it reached 310 thousand euros. Then the ad disappeared, and after two weeks appeared as new – with the price stated as 310 thousand euros.
„The price reductions themselves are not a secret: every fifth apartment currently for sale (19.5%) has already been reduced at least once, in Kaunas – every fourth (25.3%), typically by 6,000 EUR, or 4%. It is important to keep in mind that this statistic only includes prices from ads. It does not include transaction statistics. However, I suspect that reposted properties can be negotiated a bit easier than completely new ones,“ commented G. Vasiliauskas.
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