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Published: 17 february 2020 13:44

Study reveals what flats Lithuanians dream about

Flat in Paupys
Flat in Paupys

More than two thirds (69%) of Lithuanians would like to choose a fully decorated home. Of them, more than a third (37%) name their dream home as not just decorated, but also furnished – one where you can move in and live right away.

Such Lithuanian needs were uncovered in a survey commissioned by one of Lithuania’s largest residential, business and leisure space creating company Darnu Group from the market and public opinion research company Spinter Tyrimai.

Its results also reveal that almost a third (29%) of respondents would like to purchase a flat that is not fully decorated or only partially decorated.

Relying on professionals

The survey results show that the respondents, who would like to decorate their dream home themselves, would still hire architects and interior designers for the task – more than a third (38%) of respondents noted that they would employ professionals for all the work, while another 30% - for at least part of the work.

It was found that men were more inclined to decorate the home themselves, while women were more inclined to trust in the advice of architects or designers. Also, city residents and the most educated Lithuanians were more willing to make use of specialist help as well.

Darnu Group sales director Mantas Umbrasas says that the main reasons, which lead customers to such decisions are three: time savings, assuring quality and guarantees and financial reliability.

“Real estate developers’ actions reflect social reality – the economic situation in the country is also improving because people are working increasingly much. Thus, they start to value their free time more and are more inclined to trust home decoration work to professionals,” M. Umbrasas says.

Real estate company Ober-Haus CEO Audrius Šapoka notes that the situation is different in the higher class housing market.

“An exception is a prestigious and higher class housing market, where customers usually have special requirements and individual demands for the interior of their home spaces, thus usually standardised solutions don’t suit them,” A. Šapoka says.

Global trends

According to M. Umbrasas, Vilnius residents buying higher class homes are usually less sensitive to questions of time, but rely on specialist advice when seeking original, exceptional interior solutions and thus choose homes with basic decoration and leave the rest to architects or designers.

“The way that improving home affordability and growing supply has allowed several buyers to achieve their dreams of obtaining a higher class home or move to the city centre, similarly with the improving economic situation, there is a rapid increase in people, who can purchase their ideas fully realised – a home, which is decorated by competent specialists as per all the client’s demands,” M. Umbrasas says.

According to him, the number of such buyers is rising around the world, and our country is no exception.

“The demand for individual interiors prepared by specialists in higher class homes has become particularly clear in recent years. We saw the beginnings of this when selling flats in the Užupio Krantinės project two years ago and last year in Paupys we already observed a formed trend, which was confirmed by the survey results,” M. Umbrasas reveals.

Seek financial reliability

A. Šapoka notes that recent home decoration trends were decided not only by customers’ desire to spend less time and save but also the actions of developers, who have accrued more experience. Due to this, over the coming 3-5 years, the number of such customers is to continue rising.

“If some seven years ago, developers would decorate flats without fully adapting them to the customers’ demands, then now standard decoration is performed very effectively in terms of price, style and quality. Many buyers can choose from several levels of decoration and several different variants of decoration within each level. The contemporary home is set up very effectively – it almost leaves no square meter unused,” A. Šapoka notes.

M. Umbrasas says that the number of buyers choosing professional solutions growing is also linked to the desire to avoid negative organisational experiences. Furthermore, competent specialists allow to ensure not only quality but also financial reliability – to establish the required funding for decoration more accurately.

“The quotes are compiled professionally and are no longer changed throughout work. This allows a very accurate prediction of the funds needed to decorate the home. Guarantees are also issued for the work,” M. Umbrasas notes.

A. Šapoka observes that project crediting conditions are also vital for those purchasing a fully decorated new home.

“As per responsible borrowing conditions, the buyer must, in any case, have at least 15% of their own funds of the price of the purchased property. Thus, if the home decoration part is already counted, the whole project can be easier to manage and a commitment made within a single commitment to a financial institution,” the specialist highlighted.

Some 1014 respondents participated in the 2019 Spinter Tyrimai Lithuanian public opinion survey seeking to find out public opinion on imagined perfect home choice and decoration.

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