News Article Echo Investment Poland research residential
by Property Forum | Residential

Preferences and housing needs of Poles and what they would like to change in their own place were studied by Echo Investment. The first edition of the report "There's no place like home, or how Poles live," analyzes, among other things, what our requirements are when it comes to our own four walls, what motivates us when we buy an apartment, and whether we purchase it mainly for our own needs or as an investment. The report proves that in Poland owning one' s own apartment is still identified with being independent.

When deciding to buy an apartment, more than half of Poles choose 2- and 3-room units. The report "There's no place like home, or how Poles live" shows that 66% of respondents possess their owner-occupied housing, and our attachment to ownership increases with age. We become owners of our four walls most often after the age of 35, while young people, taking their first steps on the job market, more often decide to rent. They associate a sense of independence with a flexible approach to where they live, without being bound by mortgage issues or ownership procedures. However, in general, it is not renting, but just owning an apartment that Poles consider to be synonymous with a sense of independence. It was indicated by 45% of respondents. Slightly fewer rate themselves as being attached to ownership and view their housing as security for the future.

The report gathered expectations of Poles about the residential sector and its immediate future. As in any industry, including the housing sector, leading trends are readily apparent. Some of the most common of those indicated by respondents was their confidence that apartments will become more expensive in the next two years (61%). This was followed by their desire to have more green areas on the estate (58%) and their approval to pay a surcharge to live in a so-called sustainable estate (46%). Other factors in the top ten also included, for example, the financing of a new apartment with a mortgage, the desire to pay a surcharge for smart solutions for the apartment and the estate, as well as the growing interest in receiving a turn-key apartment.

The report "There is no place like home, or how Poles live" also takes a look inside our four walls and analyzes our current housing situation from this angle. What emerges from the survey is an average picture of one's own apartment of about 50 sqm, with three rooms. And what about housing standards? Nearly half of those taking part in the survey rate it as good, alternatively stipulating that their premises need some minor renovation. More critical in this regard are Polish women because 35% of them, looking at how their apartment looks, would be willing to carry out some repair work in it. Among men, this percentage is 30%. Among women, what they most need is an extra room (24%), a better layout of rooms (24%), as well as a balcony or terrace (19%). In contrast, 23% of men indicate the lack of a parking garage as an element to be improved, followed by the lack of an extra room and the desire to have a better room layout.

"We live in a time when the dynamics of change occurring in the real estate market are enormous, and the trends are determined by more and more aware clients. In our report, we considered the current state only as a starting point for talking about the future. "Today" is for us a guide for "tomorrow". In particular, we were interested in finding out for what purpose Poles want to buy apartments and what motivates their choice. The results turned out to be extremely interesting for us and we will use them in building our offer. As one of the biggest residential developers in the country, we want to deliver a top-quality product that not only responds to current client needs but is able to anticipate them", emphasizes Dawid Wrona, sales director at Echo Investment.

The apartment of the future and the expectations towards it mainly focus on an eco-conscious approach expressed, for example, by plenty of greenery on the housing estate. On the other hand, it is also the need to use technology to support everyday life in terms of safety and comfort. Poles desire solutions that guarantee less water and electricity consumption, the option to manage it from a smartphone app and ongoing adjustments to the owners' habits. And all this in a much larger space than they have now. More than half of Poles (54%) function on a daily basis in apartments with a floor space of less than 70 sqm and the plans they are making for their plans for future run through this size. A minimum of 70 meters - this is what 52% of respondents believe their next apartment should have. This is expected mainly by people who are 18-24 years old, and it is only at the age of pre-retirement and retirement that the appetite for space diminishes.

This data was collected in June 2022, and the survey was conducted using the CAWI method. The results presented in the report "There's no place like home, or how Poles live" come from an opinion poll carried out on behalf of Echo Investment by the Ariadna Research Panel with a sample of 1,085 Poles. Quotas were selected according to their representation in the population of Poles aged 18 and older for gender, age and size of the place of residence.