© Carl Anders Nilsson
Improvement of the common areas: The realisable selling price for condomin- iums is dependent to a significant degree on the building’s overall impression. Common areas like hallways, stairwells and inner courtyards as well as elements like the main entrance should be in good condition before the start of the sale process. The extent of the improvements is heavily dependent on the location – an expensive project that is successful at a prime city centre location can be a less than optimal investment at a weaker location on the outskirts. But it pays off, almost always and every- where, to at least improve the optical impression with a little attention to detail: New lighting, maybe one or the other plant
– these minor upgrades are inexpensive but can make an important contribution to successful sale. Improvement or refurbishment of the apartments: In contrast to the optimisation of the common areas, investments in the improvement of apartments for sale are, in no way, a must. There is a functioning market for extensively refurbished and modernised apartments as well as for slightly out of fashion “DIY projects”. The latter are an interesting option, above all at less prominent locations with lower price levels. Planned investments should, how- ever, also be evaluated at good locations to determine whether potential buyers will be prepared to pay the necessary
higher price. A happy medium would be to prepare a refurbishment and improvement plan, including a realistic time schedule, and to sell the apartment at the buyer’s option: refurbished, partially refurbished or not refurbished.
Vienna | 2025
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