What affects the price of an apartment in Kraków? A guide for sellers

Are you selling an apartment in Kraków and wondering what it is really worth? It is one of the most common questions we hear at the real estate agency Eternel. The answer is never a single number, because many factors affect the price of an apartment, and buyers notice some of them within seconds of walking in. In this article we explain what makes up the price of an apartment on the secondary market in Kraków, how buyers look at it, and why two seemingly similar apartments in the same building can be valued differently.

Location and district

The first factor that affects the price of an apartment is location. Kraków is a city where the differences between districts can be large. What matters is not only the district itself but also the specific street, the quality of the surroundings, and access to shops, schools, kindergartens, clinics and green areas. An apartment close to a large shopping centre, with a tram stop a few minutes on foot, will be more attractive to many buyers than one that needs a commute of more than ten minutes by bus. That is why, when we value a property, we always look at the micro-location, meaning the immediate surroundings of the property, and not only at the name of the district.

Size and layout

The floor area of an apartment affects the price, but the price per square metre does not always rise together with the size. In practice, smaller apartments often have a higher price per metre and larger ones a lower one, because the total price is higher and the circle of buyers is narrower. As important as the size itself is the layout. An apartment where the rooms are separate, the kitchen is closed off and the hallway does not take up too much space is usually seen as more functional than an apartment of the same size with a dark corridor and walk-through rooms. Buyers often look at the floor plan before they even arrange a viewing, so a good layout can increase the number of enquiries.

Floor, lift and view

The floor is another element that clearly affects the price. Higher floors with a lift and a view over the city are valued for the light, the quiet and the sense of space. The ground and first floors can be cheaper, because some buyers worry about street noise or less privacy. A lot depends on the building, though. In older buildings without a lift, a high floor can be a drawback rather than an advantage, and then it may lower the price. That is why, in a valuation, it is not the floor alone that counts but the combination of the floor, the presence of a lift and the height of the building.

Window orientation and sunlight

Apartments with windows facing several directions are brighter, and daylight is one of the first things buyers notice during a viewing. Windows facing east, south and west bring different amounts of light at different times of day, while apartments facing only north can be seen as darker. Large windows, panoramic glazing and a balcony with a view are additional advantages. Sunlight is not easy to change, so it has a real effect on the value of a property.

Condition of the apartment and standard of the building

The technical condition and finish of an apartment are something buyers assess very quickly. A renovated apartment with a modern kitchen and bathroom is, for many people, ready to live in from the first day, so it can often expect a higher price. An apartment that needs renovation will be cheaper, because the buyer has to add the cost of the work and the time. Just as important is the condition of the building: the facade, the staircase, the lift, the thermal upgrade, as well as the level and transparency of the fees paid to the community or cooperative. A well-kept building after a thermal upgrade gives the buyer a sense that no unexpected expenses are waiting.

Extras: balcony, cellar, garage

A balcony, loggia, cellar, storage unit or garage space can change how an apartment is assessed. A large balcony accessible from the biggest room is an important advantage for many families, and a cellar gives extra storage space. In Kraków, where parking can be a problem, a garage space or access to a secure car park can be an additional argument. When selling, it is worth describing clearly which of these elements are included in the price and which are offered separately, so the buyer knows straight away what they are paying for.

Transport and surroundings

The time it takes to get to the centre, access to a tram or bus, the connection to the ring road or motorway, and the availability of shops and services all affect everyday comfort and therefore the price. An apartment with a tram stop a few minutes on foot and a shopping centre nearby is usually seen as more convenient than one located further from transport. Proximity to schools, kindergartens, playgrounds and parks also matters, especially for families with children.

What a reliable valuation looks like

A reliable valuation is not about typing the floor area into a calculator. An agent compares the property with similar apartments that were recently sold or are currently offered nearby. They check how long similar listings stay on the market and at what prices they actually change hands. They assess the condition of the apartment and the building and take into account the floor, orientation, extras and transport. Thanks to this, it is possible to set a price that is realistic and that attracts buyers instead of discouraging them with too high an expectation.

The most common mistakes when setting a price

The most common mistake sellers make is comparing their apartment only with prices from listings. Prices in listings are asking prices, not transaction prices, so it is easy to overestimate the value of a property. The second mistake is setting the price too high with negotiations in mind. An apartment listed too expensively often attracts fewer enquiries, stays longer in the listings, and later price cuts can be read by buyers as a signal that something is wrong with the property. The third mistake is having no sales plan: photos, description, a schedule of viewings and a negotiation strategy.

How to prepare for a sale

Before you list an apartment for sale, it is worth doing a few simple things. Tidy up and put away personal items so that a buyer can imagine themselves in the place. Take care of good photos taken in daylight, because the first photo often decides whether someone clicks the listing. Prepare the documents for the property and check that all the formalities are in order. Think about whether small repairs or freshening up the walls would improve how the apartment is perceived. Most importantly, set a realistic price based on a comparison with the market.

Valuation with Eternel

At the real estate agency Eternel we help sellers assess the value of an apartment in Kraków and map out a sales plan. We prepare a free market valuation in which we compare the property with similar offers, explain what affects the price and suggest how to sell the apartment faster and on better terms. If you sell with us, you get the sales plan for free. We serve clients in Polish, Ukrainian and English. Call or write to us and we will arrange a conversation at a time that suits you.