Prefabricated Construction in the Residential Real Estate Market

Abstract Persistent housing shortages and escalating housing investment costs in numerous countries drive the search for technologies that enable faster, cost-effective housing development. Prefabrication technology has emerged as a promising solution, which enables buildings to be constructed in significantly shorter timeframes compared to traditional methods. This approach utilizes prefabricated structural elements manufactured in controlled factory settings, leading to a substantial reduction in the carbon footprint associated with the construction process. This study focuses on two primary objectives: 1) Identifying the key factors for integrating prefabricated construction technology into the multifamily housing market, especially within the framework of sustainable development policies and the growing housing gap, and 2) Examining buyer preferences to assess their openness toward prefabricated construction in the multifamily residential market. Identification of the determinants of the implementation of prefabricated technology was carried out based on comprehensive literature review and critique of source documents. Additionally, buyer preference surveys were conducted among residents in post-communist Central and Eastern European countries (Poland, Bulgaria, and Ukraine).