Most Russians (82.6%) plan to change their homes for the better in the not-too-distant future. Sber subsidiary SberInsurance has learned that 61.6% of respondents are planning renovations, 10.8% intend to buy an apartment, 10.2% are looking to rent a more attractive apartment, and 7.6% would like to realize their plans to purchase the perfect apartment in the near future, but those plans will depend on the circumstances. The survey involved 1,500 respondents nationwide.
Referring to what they would like to improve, 32.9% of respondents said they lack high-quality repairs, 17.7% would like a comfortable bathroom, and 11.1% said they need new furniture. Almost one in ten (9.8%) participants complained about insufficient square footage, 8% were concerned about poor noise insulation, 6.7% said they would like a nice view from their windows, and 6.3% wanted higher ceilings. Two percent said they would also like a balcony, 1.1% want a smart home system, and 0.6% would want to install a security system. Only 2.7% of respondents said they were satisfied with their apartments.
Over half of the respondents planning to renovate (60.8%) are ready to spend up to RUB 1 mn, 33.5% would be willing to spend over RUB 1 mn, while 4.6% would spend up to RUB 5 mn and only 1.1% would spend over RUB 5 mn.
Half of Russians (49.8%) planning to buy an apartment in the near future are willing to spend up to RUB 5 mn on it, 26.5% would pay up to RUB 10 mn, 12.1% – up to RUB 15 mn, 4.5% – up to RUB 25 mn, and 7.2% – over RUB 25 mn.
Respondents ranked transport accessibility as the most important factor when choosing an apartment (32.9%), while 19.5% pay attention to the type of house they are planning to move into and 12% consider district infrastructure important. The apartment being located in the city center is important to 10.2% of respondents, while 8.9% prefer to live near a shopping center. For 14.7%, the aforementioned factors are unimportant – what is important is that they like the apartment itself.
More than a third of respondents (39.1%) consider between 70 m2 and 90 m2 to be the ideal size for an apartment, 27.2% would prefer 50-60 m2, 25.6% want more than 90 m2, and 8% would want around 40 m2.
Of the respondents, 47.2% said that they have home insurance, with 35.7% noting that the insurance had already paid off and 10.2% saying they bought it because they consider it necessary by default. Among participants who have already given insurance a try, 71.2% have had their apartment flooded by their neighbors, 15.6% have received payments because of a fire or explosion, 6.3% for natural disasters that damaged their homes, 5.4% for theft and vandalism, and 1.5% for harm caused to their lives, health, and/or property.
Denis Kuzmin, director of Protective Products and Services, Sberbank:
“Insuring your home should become as much of a tradition when purchasing an apartment as letting your cat be the first to enter your new home. The survey shows that 71.2% of respondents who took out insurance were flooded by their upstairs neighbors, 15.6% received payments for harm caused as the result of a fire, and 6.3% were compensated for natural disasters that damaged their apartment. Many people underestimate the need for insurance, as they do not believe they will be impacted by external issues. People should understand that, in this case, insurance will save a person from having to seek the funds to rebuild their home on their own.”
SberInsurance’s Home Protection program is a builder that helps customers craft an insurance program to suit their needs with up to RUB 2.9 mn in coverage. The contract can be drawn up at any SberBank branch, as well as on the SberBank Online mobile app or the SberInsurance website. It only takes a few clicks. The program is available on a monthly, quarterly, or annual subscription basis. You can complete the entire claim settlement process, from filing a claim to receiving payment, in a matter of days via SberBank Online.
