Homebuyer Preferences Change Following Onset of COVID-19 Pandemic | Be Korea-savvy

Homebuyer Preferences Change Following Onset of COVID-19 Pandemic


This file photo shows apartment complexes in central Seoul. (Yonhap)

This file photo shows apartment complexes in central Seoul. (Yonhap)

SEOUL, Nov. 17 (Korea Bizwire)Potential homeowners first look at the architectural plans of the home prior to purchase, a survey showed Tuesday.

Fides Development Co. and four other local real estate developers conducted a survey of 1,000 homeowners in the greater Seoul area, 22.9 percent of whom picked ‘architectural plans’ as the most important factor when buying a home.

Others picked the ‘location and direction of the residential complex’ (17.5 percent), ‘interior design and style’ (12.5 percent), and ‘view’ (11.4 percent).

In 2019 prior to the pandemic era, ‘location and direction’ (23.5 percent) and ‘interior design and style’ (17.6 percent) were more important to buyers compared to ‘architectural plans’ (16.6 percent).

The preference for architectural plans has been spiraling upwards for five straight years since 2016 (7.9 percent).

“As people are spending longer hours indoors, the factors of consideration seem to have changed,” the joint research team said.

Top factors of consideration when buying a home in the future included ‘easy traffic and commute’ (41.3 percent), ‘potential for regional development’ (17.8 percent), and ‘local landscape’ (16.9 percent).

Respondents also believed that ‘large-sized malls’ (50.9 percent), ‘department stores’ (21.6 percent), ‘traditional market’ (9.2 percent), and ‘multi-purpose shopping malls’ (7.7 percent) should be located near the home.heir staff, diversifying modes of assessment.

H. M. Kang (hmkang@koreabizwire.com)

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