In Latvia, during an emergency situation, 43% of the population, working remotely, have acknowledged the need for changes in residence AND 45% of Covid-19 people are looking for their next home in a private house, according to a survey conducted by the real estate development project Mežaparks Residences and research agency Norstat.
According to the survey data, one third of the population has considered home repairs, of which almost half or 15% of respondents have also implemented housing improvement measures during Covid-19.
One in five residents has considered or made the purchase of real estate or moving to a new home due to the emergency situation.
“Assessing the reasons for the change, the population is dominated by the lack of a separate office area, the need for a larger total living space and a place for physical activities. The issue of home improvement and suitability under the influence of Covid-19 has become increasingly important. It is not for nothing that we conclude from the survey data that people want to make improvements to the existing place of residence and change it to a larger one, ”said Mairita Zvīne, Marketing and Sales Project Manager of Domuss, the developer of the Mežaparks Residence.
Meanwhile, 53% of the population, who do not see the need for improvement measures at home due to the emergency, have indicated that their work is performed in person.
It is also concluded that the priorities for the residents in choosing a new place of residence do not change – location, area, number of rooms, private outdoor area, infrastructure and air quality. However, if before the pandemic, in addition to important factors, residents also mentioned the balcony or terrace and interior, then according to the virus in the list of the most important criteria, they are replaced by a green area and the availability of parking.
According to the results, 48% of the population would be willing to pay for the purchase of a quality apartment in a new project in Riga, up to 50,000 euros. 43% of respondents would be willing to pay above the specific amount, not exceeding 100,000 euros, but 7% of the population would pay between 100,001 and 150,000 euros.
Also, 45% of respondents would look for their next place of residence in a private house, while 18% of residents would choose the new project, following a rural homestead mentioned by 14% of people. Only 12% of respondents would look for a place to live in a renovated apartment building, but the least – 9% of people – in a standard-type apartment building.
The survey of the research agency “Norstat” was conducted in July this year, interviewing 700 Latvian residents aged 18 to 64 years.
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