Seoul duplex sample: are buyers negotiating over energy performance?

[lookTheRiver]

This is my first pass at tracking Seoul duplexes, and I’m trying not to read too much into a small sample. Prices run from about ₩176,600,000 to ₩265,000,000, the indicated movement is +4.7%, and median marketing time is near 43 days. There are more listings, but not many I would actually buy; differences in condition also make the average noisy.

The point I cannot settle from the paperwork is energy performance. Are buyers negotiating a discount for weaker performance, or simply rejecting those homes and moving to another listing?

 

[CuriousRadar]

It may show up more as a condition issue than a separate negotiation item. If buyers expect extra work or higher running costs, they can fold that into one lower offer without naming energy performance. Have you checked whether the weaker properties receive earlier price cuts, or whether they just sit longer and get withdrawn?

 

[zia_titles]

I’d be cautious with the +4.7% and 43-day figures until you separate completed sales from asking prices. A few renovated duplexes could distort a small sample. Also, are all the listings within consistent neighbourhood boundaries? Two nearby areas can attract different buyers and financing constraints, so combining them may hide what is really happening.

 

[knitsAndAtlas]

There is also a seller-motivation problem. A poorly performing home offered by a flexible seller may sell quickly after a cut, while an efficient one can linger because the seller refuses to move.

I would track each listing by first asking price, date and size of any cut, condition, new or relisted status, withdrawal, and completed price where available. That should make the 43-day median more useful.

 

[StillPorch]

I slightly disagree that negotiation behaviour is the best test. Energy performance may operate as a filter: buyers who care never make an offer, so no energy-related discount appears in the record. Compare otherwise similar duplexes and watch new-listing volume, viewing time, cuts and withdrawals. If weaker homes repeatedly lose buyers before negotiation, that answers your question even without an explicit discount.