Ready-to-move is the most preferred option for home buyers reveals NoBroker.com latest survey.
84% of respondents have said its a good time to buy a property. Here are the few findings of this survey.
The survey saw a huge percentage (80%) of tenants still preferring to stay close to workplace, 78% of buyers are looking to buy a house within the city.
7% of tenants this year have said that they feel that video tours are a great way to see properties.
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Bengaluru saved 787 crores of brokerage, followed by Mumbai
84% of respondents have stated that it is a good time to buy property. Among the reasons cited, a whopping 43% attributed it to the historic low interest rates. 38% have also stated the security of owning a physical asset as a key reason. People were able to save the money set aside for vacations, movies, lavish weddings, etc., therefore, 9% also mentioned greater savings as a reason to invest in property.
Ready-to-move is the most preferred option with 78% of potential buyers voting in favour.
77% of people are looking for a property in city region while 23% are looking for a property in suburbs.
Budget obviously is the key consideration for the greater majority.
Other top considerations include water supply (39%), public transport connectivity (38%), performance of a locality (37%), distance from workplace (36%), size of the apartment (33%) and amenities (30%).
Buyers
There is a great demand from buyers from across cities and they are looking for bigger places. There is a visible uptick in demand for 3 BHKs.
Buyers’ budget has increased. One of the key reasons for this as per the survey is greater savings due to less expenditure on vacations and lifestyle.
The 2021 survey saw a larger number of second time/repeat buyers entering the market, either looking to reinvest or to upgrade to a bigger house.
Property investment is the most preferred option for a very big majority. Gold and SIP/stocks were a very distant second and third.
Tenants:
Distance from the workplace is back on priority list for tenants as most of them have mentioned that they prefer a home within the city.
Last year, most cities experienced zero to negative rent inflation. This year, most cities experienced rent inflation upwards of 3%.
