Customer preferences of modern technologies (PropTech) on the primary housing market

Abstract

Introduction/background: The residential property market is in a state of constant flux, largely a consequence of the intensive development and increasing availability of modern technologies termed PropTech. Relatively resistant to change, the real estate sector is undoubtedly undergoing a technological revolution. PropTech affects the activities of entities that create both supply and services on the real estate market. In addition, it also affects the customer. Aim of the paper: The aim of the paper is to identify the attitudes and preferences of primary apartments buyers regarding the use of modern technology (PropTech) by developers in the local residential property market. Materials and methods: The tool was Internet survey questionnaire. Originally, a face-to-face study was planned, but due to the constraints of the pandemic, it was not possible to reach respondents directly. In some cases, the “snowball” method was also used to increase the sample size. Results and conclusions: The preference surveys that have been conducted and presented are a contribution to further research work in this area. The results obtained show that the most popular solutions are those that are relatively easy to achieve and do not pose a great challenge to developers, for example. In contrast, those related to digital tools came in last place. Further questions also arise. To what extent, in a situation of relatively expensive housing, are buyers willing to pay for modern solutions. Environmental awareness, such as the use of solar energy or rainwater harvesting, may be at odds with the purchasing capacity of households. To what extent can buyers trust modern technologies without worrying about, for example, lack of energy to use appliances. These and probably other questions require further research in this area. Keywords: PropTech, customer preference, residential market, housing market, real estate.