Piotr Bartkowiak, Łukasz Strączkowski
Housing Buyers’ Preferences and the Relevance of those Preferences. In Researching Poznan Primary Housing Market
Purpose – The local housing market in Poznań is undergoing a dynamic growth, with recent years (2015-2019) seeing more activity from property developers as well as rising demand and prices. Given the above, this paper has the following objectives: (1) To present the local housing market situation in Poznań over 2015-2019; (2) To characterise the buyers of dwelling units in that market; and (3) To describe the housing buyers’ preferences and to compare the buyers’ expectations with what the property developers could offer them.
Methods – The discussion below is based on surveys among housing trade show participants (sample n=268) who said they were actively seeking to buy a dwelling locally. We have also examined housing offered for sale by property developers.
Findings – Based on our research, we were able to determine the structure of dwellings offered by property developers and the preferences of buyers in the Poznań primary housing market. We have compared the results of our studies and found that, given the rising prices, there is a large discrepancy between the buyers’ stated preferences and their adjusted preferences once the real market prices are factored in, and that there are mismatches in the Poznań primary market between what the property developers offer and what the interested housing buyers would prefer to be offered.
Research implications – This might have serious consequences for the market (for example, by cementing its suboptimal structure on the demand side and by hampering sales of some dwellings on the supply side, leading to worse return on investment).
Keywords: primary housing market, housing preferences
JEL codes: R30, R31, R39
Article type: research article
CITATION (APA): Bartkowiak, P., Strączkowski, Ł. (2020). Housing Buyers’ Preferences and the Relevance of those Preferences. In Researching Poznan Primary Housing Market. World of Real Estate Journal, 113(3), 4-20.
DOI: https://doi.org/10.14659/WOREJ.2020.113.01
