About 34% homeseekers looking to buy properties priced between Rs 90 lakh and Rs 2.5 crore: Consumer
COVID-19 has altered homebuyers' preferences, with the second wave being a significant change catalyst. Over 34% respondent home seekers in a survey said they focused on properties priced between Rs 90 lakh to Rs 2.5 crore. While 35% favoured properties priced between Rs 45-90 lakh, just 27% respondents voted in favour of affordable housing (priced less than Rs 45 lakh), per a report titled CII-Anarock Consumer Sentiment Survey released on September 3.
In the previous H2 2020 survey, approximately 36% respondent property seekers eyed budget housing.
The survey, conducted between January and June 2021, polled 4,965 participants responding via various digital platforms.
While attractive pricing continues to rule the roost of must-haves, established developer credibility is the second-highest priority for 77% of the surveyed buyers. Project design and location also feature prominently on the wish list.
“The budget range which this survey identifies as the hottest seller is a surprise, but it makes sense if we consider that it is precisely this segment of buyers who are least financially impacted by the COVID-19 pandemic. Online home sales are gaining traction, with close to 60% of the entire property buying process now being conducted online - against 39% in the pre-pandemic period,” said Anuj Puri, chairman, CII Real Estate Knowledge Session and chairman, Anarock Group said.