Real estate has become a more popular asset segment than fixed deposit, stock market based investments and gold after the spread of covid 19.After the spread of covid 19,According to the CII-Anarch survey, most people plan to buy a home in the suburbs.Prior to the covid 19 impact, 59% of home purchases were for personal use (residential) and 41% for investment purposes. Of this, 74% is now residential and 26% is investment oriented. That is, residential home purchase increased by 15%.The reason is that during the Corona impact, many people were facing many hardships in rented houses. Corona affected the largest number of cities. This is why many are beginning to prefer crisis-less suburbs.
17% of millennials between the ages of 25 and 35 think of real estate as an asset class before the cove. It has now increased to 48%.Overseas Indians (NRIs) Rs. 90 lakh to Rs. It has been revealed that it wants 3 bedroom and 4 bedroom luxury houses worth up to Rs 2.5 crore. 38% of NRIs have booked houses.
Demand for large 2 bedroom homes of more than 600 square feet has been 38% before Kovit. It has now increased to 69%. According to the survey, the main reasons for this are various offers, discounts, low home loan interest rates and affordable housing.38% said they would buy into new projects. They want to make some changes to their new home.57% have switched in favor of real estate. Work from home, online education, etc. are also changing in favor of real estate.
Most home buyers prefer the projects of big companies. In particular, the demand for two-bedroom homes has increased. 43% want to buy a house in the suburbs and 20% in the urban areas.The preference for affordable homes below Rs 45 lakh was 31% before covidIt has now risen to 40%. 67% of people think that the price of houses will not go up for another year. 18% think prices will increase. 83% say prices will rise in the long run for more than five years.