In short
- Start from deal prices for similar flats. What neighbours ask is a weak guide.
- Overpriced listings stay up longer and often end up selling for less.
- Leave a small margin for negotiation, but not so big that buyers can't find you.
- The first 2–3 weeks show whether the price is right.
Where to start
First, know what your flat is worth on the market: the range similar flats in your building and area sold for recently.
Then look at what is on the market right now. A buyer will compare your flat with 5–10 other listings they see that same evening.
What happens to an overpriced listing
A new listing gets the most attention in its first days, when everyone searching sees it. If the price is too high at that point, those buyers move on to other flats and don't come back.
After a few weeks the listing becomes "old". Buyers wonder what is wrong with it and ask for a bigger discount. The further the asking price is from the market, the longer a listing usually stays up.
Three ways to choose the selling price of your flat
| Approach | When it fits | Risk |
|---|---|---|
| Market price | You want to sell within a few weeks | Smaller margin for negotiation |
| Slightly above market | The flat is better than average, no rush | If the margin is too big, few calls |
| Well above market | Almost never | The listing sits and the final discount is bigger |
How much to leave for negotiation
Buyers almost always haggle. A small margin lets you give way and still get the market price. If the margin is too big, buyers won't find your listing, because it falls above their budget in the search filter.
Think about round thresholds too. Many people search with a filter like "up to € 100,000". A price of € 101,000 won't reach them, while € 99,000 will.
What the first weeks tell you
If there is no interest after 2–3 weeks, don't delay the decision. When and how much to cut the price is covered in our article on cutting the price.
- Lots of calls and viewings, quick offers: the price is right or even too low
- Calls but no offers: something doesn't suit buyers, review the photos and text
- Hardly any calls: the price is too high compared with the competition
Common questions
How far above market price can I list my flat?
A little, to leave room for negotiation. The further above market you go, the longer a listing usually stays up without a buyer.
Is it better to start high and cut later?
Usually no. The first weeks bring your biggest flow of buyers, and a later discount is often larger.
Should I show the price or write 'negotiable'?
Show the price. Without it your listing doesn't appear in price filters, and many buyers simply skip it.
Sources
- Nekustamā īpašuma tirgus pārskati · Valsts zemes dienests
This article is for information only and is not legal, financial or tax advice. It may contain mistakes or be out of date, so check it against official sources or with a specialist before you decide. m²cena accepts no liability for any loss or damage arising from the use of the information in this article.