The Only Reason Why A One-Bed London Flat Doesn’t Sell
So…
A 1-bed London flat has been on the market for 6 months…
Possibly even a year or longer…
What is the reason for this?
Is it the location?
Is it just outside the boundary of being within ‘Prime London’, for example?
Or, is it the interior design?
Is it a dated property?
Is the kitchen old?
Are the bathrooms old?
Is it the lack of outside space in the form of a private garden?
Is it the lack of a 24 hour porter?
These are all potential reasons for 1-bed flats not selling…
However, the ONE reason for a 1-bed London flat not selling is simply the price.
It’s as simple as that!
As an example, if a 1-bed flat was outside ‘Prime Central London’, was dated with an old kitchen, old bathrooms, didn’t have any parking and didn't have a private garden, and the asking price was £1,500,000…
If the vendor suddenly asked £150,000 for said flat, would he or she get offers?
“The one reason for a 1-bed London flat not selling is simply the price.”
Of course!
Has anything else apart from the price changed?
No!
The ONE reason why a 1-bed London flat does not sell is because it is deemed to be overpriced and not good value for money in the eyes of potential buyers.
Are there any 3-bed flats that have been on the market for 6 - 12 months that you like the look of?
If so, view them and put in an offer below market value! You have NOTHING to lose!