One in four Romanians says that buying a home is a major goal for 2021, according to a study conducted by the Imobiliare.ro portal during May 2021. The people who bought a house in the big cities in the last year were mainly oriented towards two-room apartments, located in buildings completed before 2015, the acquisition budgets being, in most cases, below 60,000 euros.
The market study tracks the preferences and behavior of home buyers amid the Covid-19 epidemic and was made by the research company Unlock Research at the request of Imobiliare.ro. Of those who participated in the study, 36.5% bought a home (apartment or house / villa) in the last year, while the remaining 63.5% intend to make such a purchase in the upcoming six months. It should be mentioned that, according to the data provided by the research company, one in four Romanians spontaneously states that the purchase of a home represents a main goal for 2021.
Overall, the study revealed that people who have purchased a home in the last year in the area of large cities have focused mainly on two-bedroom apartments, located in buildings completed before 2015, the acquisition budgets being in most cases, under 60,000 euros. “On the other hand, those who plan to buy a home in the next period are more interested in new real estate, especially houses / villas and have larger budgets at their disposal. 32% of respondents have money from their own resources for a purchase, while 60% need bank financing, and 8% would be interested in the installment system at the developer “, mentioned Daniel Crainic, marketing director of Imobiliare.ro. One of the major housing trends in the context of the Covid-19 epidemic is the desire to live closer to nature, including in communities located outside large cities.
90% of respondents have average and above-average incomes
Among the participants in the study, 55% were women and 45% were men, aged between 18 and 25 years old (10%), between 26 and 35 years old (41%), between 36 and 45 years old (29 %) and, respectively, between 46 and 55 years old (20%). 57% of respondents stated that they are married, while 22% live with their parents, 17% live alone, and 4% are divorced/widowed. From the geographical distribution perspective, 50% of the interviewees are from Bucharest, 10% from Cluj-Napoca and the surroundings, 10% from Constanța area, 14% from Iași and surroundings, 8% from Timișoara area, and 9% from Brașov and its neighboring localities.
Regarding the level of education, 78% of the respondents have completed higher education, 22% have secondary education, and only 1%, below-average education. Most study participants have a solid financial situation: 46% have high incomes (over 3,500 lei per family member), 42% have average incomes (between 1,500 and 3,500 lei per person), and only 3% have low incomes (less than 1,500 lei per person) – while 10% did not answer this question.
In Bucharest, 57.5% of those surveyed are potential buyers, while 42.5% have already concluded a transaction – 70% of total purchases are for personal use, 15% for investment purposes, and 15% for another person ( such as a family member). Out of the total respondents, 9% stated that they bought/intend to buy a 2-room apartment, 35%, a house, 19%, a 3-room apartment, 7%, a studio, and 28%, a 4-room apartment rooms or more. Newer buildings than 2015 are preferred by 66.2% of the inhabitants of large cities, and, as a budget, 6% of them are below 40,000 euros, 22%, between 40,001 and 60,000 euros, 33%, between 60,001 and 80,000 of euros, 19%, between 80,001 and 100,000 euros, and 20% exceed 100,000 euros.
In Brasov (and surroundings), 74.5% of those interviewed are people who would like to make a purchase in the next period, while 25.5% have already done so; 69% of transactions consider personal use, 15%, an investment, and 16% are for the benefit of another person. 11% of the clients from the Brașov area had/have considered a 2-room apartment, 38%, a house, 16%, a 3-room apartment, 4%, a studio, and 31%, a 4-room apartment or more. The buildings completed after 2015 are preferred in proportion of 67.3%, and the budgets are distributed as follows: 11% under 40,000 euros, 27% between 40,001 and 60,000 euros, 33% between 60,001 and 80,000 euros, 15% between 80,001 and 100,000 euros, and 15% over 100,000 euros.
In Cluj, 62% of respondents are potential buyers, and 38% have already become owners – given that 76% of transactions were for personal use, 19% for investment purposes, and 5% for another person. 7% of the clients in this area of the country had/have considered a 2-room apartment, 29%, a house, 31%, a 3-room apartment, 5%, a single-room house, and 28%, an apartment with 4 rooms or more. Constructions completed after 2015 are preferred by 63.8% of customers, 5% of them had / have budgets less than 40,000 euros, 24% are between 40,001 and 60,000 euros, 22%, between 60,001 and 80,000 euros , 24%, between 80,001 and 100,000 euros, and 24% exceed 100,000 euros.
In Constanta, 64.4% of study participants are people who want to buy a home this year, while 35.6% have already done so in the last year; 61% of the transactions had/have as a purpose the personal use, 27%, an investment, and 12%, the benefit of another person. 5% of those interviewed opted / will opt for a 2-room apartment, 41%, for a house, 17%, for a 3-room apartment, 5%, for a studio, and 32%, for a 4-room apartment rooms or more. Overall, 66% of buyers’ preferences are directed towards real estate newer than 2015, and the purchasing power is divided as follows: 5% under 40,000 euros, 31% between 40,001 and 60,000 euros, 29% between 60,001 and 80,000 euros, 15% between 80,001 and 100,000 euros, and 20% over 100,000 euros.
In Iasi, 73.2% of all respondents are potential buyers, while 26.8% have already gone through a real estate transaction in the last year; 70% of the acquisitions were aimed at personal use, 16%, an investment, and 15% are made for the benefit of other people. In terms of the size of the house, 5% of customers want a 2-room apartment, 39%, a house, 17%, a 3-room apartment, 2%, a studio, and 37%, a 4-room apartment and over. Newer buildings are preferred in proportion of 62.2%, and 15% of customers have up to 40,000 euros, 30% have between 40,001 and 60,000 euros, 38%, between 60,001 and 80,000 euros, 15%, between 80,001 and 100,000 euros , and 9% over 100,000 euros.
Most buyers have collaborated or would collaborate with a real estate agent
The study conducted by Imobiliare.ro also reveals that 53% of those who bought a property in the last year worked with a real estate agent, while a similar percentage (also 53%) of potential buyers are interested in such a collaboration. Of those who have already benefited from the services of a broker, only 9% were dissatisfied, while 57% were satisfied and 35% said they were neutral in this regard. The reasons mentioned for collaborating with a real estate agent were the following, in order of importance revealed by the participants’ answers: saving time, helping in the preparation of documents, facilitating access to as many properties on the market as possible, advice on quality property, time saved in contacting sellers and help in the negotiation process.
Translated from Romanian by Service For Life S.R.L.