The comparison of expressed satisfaction and expectations of potential real estate buyers in Slovenia and Japan

Abstract

PurposeThe purpose of this paper is to present partial results of a survey conducted in Slovenia and Japan. Its aim is to determine factors, which have a decisive influence on potential acquirers of real estate rights when deciding to purchase real estate. Discussed is the role of personal expectations and the role of satisfaction of potential acquirers of real estate rights regarding factors related to the real estate in which participants live and according to their different cultural identity.Design/methodology/approachThe authors follow the hypothesis that differences in personal expectations and expressed satisfaction of potential acquirers of real estate rights regarding real estate factors according to different cultural identity are statistically significant. The main instrument for measuring the participants' expectations is a questionnaire in which 1,270 participants took part.FindingsBy analysing the results of statistical analyses, the hypothesis is confirmed. Results show that Slovene participants compared to Japanese participants express a higher satisfaction level with the current real estate in which they live and at the same time lower expectations regarding practically all real estate factors. The article explains the difference of the higher expressed satisfaction with the difference in the level of residential estate ownership, which is higher in Slovenia. Also explained is the lower expectations of Slovene participants, with the conclusion that less than one‐third of Slovene participants are willing to give up certain key factors in case of a lower real estate price.Research limitations/implicationsThere are potential risks of error arising from the use of assumptions, limited samples size and data from the secondary resources.Originality/valueThe major contribution of this paper is showing that expressed participants' high satisfaction with residential status does not necessarily generate high expectations regarding real estate factors.