The factors that influence the selection of an apartment
market study conclusions
As we promised, we will publish the results of the market study launched this spring, with the theme “Factors that influence the selection of an apartment”. Because the study has come to an end and the data has been processed, we present the conclusions we drew as a result of it.
We mention that the study was made on a sample of 124 people and consisted in an online questionnaire. Among respondents 63% are women and 37% men who have recently purchased or are in process of searching an apartment. Most of them live in Bucharest and have a medium income between 1000 and 1500 euros. The market research took place in March-April 2018.
It seems that we live in a society where work primes, or at least, that is what the questionnaire states. More than 46% of the respondents say that they spend very little time home. The established average is 9-12 hours, including 8 hours of sleep.
There is a tendency of purchasing relatively large apartments, 45% of the respondents choosing a 3-room apartment. Neither 2-room apartments are neglected, 38% choosing this option. The respondents’ tendency is to allocate more than 70 000 euros for the purchase of an apartment.
When it comes to the distance from work, opinions are divided between having an apartment relatively close to job (36.98%) and having a living space that is close to a fast mean of transportation.
We have tried to quantify openness to socialization, a characteristic strongly promoted in newly created residential spaces in highly developed countries and asked people, if they want to interact with their neighbors. According to the survey, 54.84% are willing to know their neighbors, but not to have common activities with them.
People always look for an apartment depending on the area in which it is located, the price being second, followed closely by the usable area. The answer regarding the selection criteria obtained on the basis of point accumulation shows a different perspective. Here quality takes precedence, regardless of whether it is about the quality of the materials, the construction itself, the partitioning, or the earthquake resistance. The latter is a very important criterion for respondents, with new buildings with a high degree of safety being preferred over old ones.
Of course, the questionnaire also had questions with free answers. The question that is dear to us is related to what “home” means for the participants in the study conducted by Toud. They say that for them the place they call “home” is related to the living space where they feel the best, where they relax, and where they recharge their batteries.
The general conclusions of the market study about the factors that influence the choice of an apartment are that people are looking for that “home” depending on the area, the quality of the construction, and the price. The answers received did not allow us to identify a hierarchy of these selection criteria.
Toud thanks all respondents. We want to mention that the study was carried out on a random sample and, consequently, it is not relevant for the population. Also, the relatively small number of respondents may negatively influence the relevance of this study.
Tools we used: Google Forms, PowerPoint, Photoshop, Tableau Software