What is the difference between the primary market and the secondary market?
The primary market includes only new, just-built properties. Behind such investments there is usually a developer with whom the future owners of the apartment conclude a contract and take care of all formalities. Currently, the number of new development projects is huge, which allows you to find real estate tailored to your individual needs, such as location in a specific place. Modern architecture dominates the primary market.
One of the options on the primary market is to purchase a flat in developer condition. It means the purchase of real estate from a developer when the building is still under construction or just after its completion. Apartments in developer standard are usually delivered with a complete installation system, but are not yet aesthetically finished.
Unlike the primary market, the secondary market offers second-hand houses. These are properties ready for sale . In practice, this means a variety of apartments - from exclusive apartments to premises requiring major renovation. On the secondary market, you can choose from older investments, prefabricated blocks of flats or even pre-war tenement houses. There are plenty of options, which gives you plenty of room to choose from.
Apartment prices – secondary and primary markets
On the secondary market, apartment prices may be lower due to older buildings and the need for possible renovations. However, it is worth remembering that real estate prices on the secondary market may also be easier to negotiate and more flexible, which gives you greater opportunities to tailor the offer to your own needs and budget.
Read: https://www.mieszosci.orange.pl/blog/rynek-motywosci-komerkcji-przewodnik
In turn, entering the primary market involves high costs , which result from high development standards. Designers try to distinguish the offer of new investments with modern design, innovative technological solutions and attractive accessories. Developers often offer installment programs and attractive discounts and promotions.
A house from the secondary or primary market – which is a better choice?
When choosing between a secondary and primary market apartment, it is worth considering several criteria:
· Diversity of the offer - there are many more apartments to choose from on the secondary market, which allows you to find a house that best suits your preferences in terms of location, room layout and technical condition.
· Unique character - apartments on the secondary market often have their own unique charm and history, which may attract people looking for a house with a unique atmosphere.
· Quality – in the case of the primary market, developers are responsible for removing defects in the first years after purchase, which ensures that the apartment will be in good condition. Housing estates on the primary market often offer modern architectural solutions. In turn, older buildings on the secondary market may be of lower quality and may be associated with infrastructure problems.
· Costs – apartments on the primary market are often more expensive, and the finishing may generate additional costs. However, it is worth remembering that houses on the secondary market also often require renovation or modernization, which generates additional costs and time.
· Waiting time - waiting for a ready apartment from the developer may be long, and there is also a risk of delays.
Find out: Tender announcements for real estate sales - where to look for them?
Primary or secondary market – summary
To sum up, the choice between the primary and secondary markets depends on your individual preferences, budget and expectations. It is important to carefully analyze both options, compare the offers and adapt them to your needs. It is also worth consulting an expert who will help you make the right decision. Real estate specialists from Orange will help you dispel your doubts!