A vast majority (90%) of buyers of primary market flats spent more than PLN 1,000 per m2 on finishing the premises, according to the survey “How much does it cost and how long does it take to finish a flat on your own?”, commissioned by Dom Development. In detail, almost every second respondent spent between PLN 1,000 and PLN 1,500 on this purpose, almost every fifth spent between PLN 1,500 and PLN 2,000, and in 22% of respondents the cost of finishing exceeded PLN 2,000 per m2. At the same time, more than half (51%) of the respondents declare that they exceeded their original budget when finishing their flat.
At the same time, the developer has announced that it has introduced an offer in which the finishing of a flat, ready at the same time as a unit in developer standard, costs from PLN 990 per m2.
According to a survey […] in February 2024, 65% of respondents did not take advantage of finishing packages for fear of the high cost of such a solution. And how much did the works carried out on their own cost? In most cases (90%) – more than PLN 1,000 per square metre. [More than half (51%) of the respondents declare that they exceeded their original budget when finishing their flat. Time is also a challenge. Finishing a flat generally takes (58% of respondents) more than 4 months and in half of the cases exceeds the planned schedule. In 22% of homeowners, the work extended by more than a month. Time is also not our ally when it comes to finding the right professionals. Nearly half of the respondents found a team within a month, and for one in ten the process took even longer. Added to this is the need to purchase the necessary materials – almost 80% of respondents visited at least three shops for this purpose. For a third of the respondents, the purchasing process did not end with placing the order, as they encountered problems with delivery, including delays, errors in the order or damage to the goods, the survey reported.
Dom Development says it has completely revamped its range of finishing packages in response to market needs.
“Only 10 per cent of respondents in our survey have completed finishing work in the last two years at a price lower than PLN 1,000 per square metre. Our offer starts from PLN 990 per m2, for this finishing work requires almost no effort from homeowners and does not consume their precious time. When deciding to finish a flat with us, the client is guaranteed the price stated in the contract. This means that, regardless of market turbulence, he will pay as much for finishing the flat as he assumed at the beginning. The time in which we hand over the finished flat is also competitive. The flat will be finished when the keys are collected if the package was bought within a year of the start of construction. For people who buy flats for investment purposes, this is particularly valuable information – the premises do not actually generate costs, as they can be rented out soon after delivery,” said Dom Development’s Interior Design Department director Agnieszka Bodal-Grzelak.
The new packages, developed by Dom Development’s architects, include several price variants. Dom Construction, the Group company responsible for the general contracting of Dom Development’s projects, is responsible for the finishing work and the purchase of materials, it was also stated.
“As the largest developer, we want to set further directions for the development of the residential market in Poland. Therefore, our goal will be to popularise the ‘turnkey’ standard, which will allow us to finish a flat at a competitive price and provide a ready-to-occupy unit already on the day of delivery. In our opinion, this will translate into greater satisfaction among flat buyers in Poland,” concluded Board Member Monika Perekitko.
The survey was carried out by the Minds & Roses research agency in February 2024. Sample size N=300. Residents of Warsaw who bought a flat from a developer in the last 2 years and finished it on their own were surveyed. Research method: direct interviews CAPI.
Source: Dom Development, Minds & Roses and ISBnews
