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CII-ANAROCK COVID-19 Sentiment Survey – 43% Homebuyers Now Prefer Peripheral Areas, Millennial Buyers Up 31%

Editor Desk
By Editor Desk

  • Ratio of end-users vs. investors is currently at 74:26; it was 59:41 in pre-COVID period

  • 48% of respondents favouring real estate as an asset class are millennials aged 25-35 years; before COVID-19, they were just 17%

  • Most NRIs prefer luxury homes (INR 90 Lakh – INR 2.5 Cr); 3BHKs & 4BHKs top the demand list

  • 24% of respondents have already booked homes, influenced by attractive deals, cheap home loans and pandemic-induced urgency to own physical assets

  • Increased demand for bigger homes across all configurations post-COVID; 69% now prefer bigger 2BHKs (>600 sq. ft. area) vis–vis 38% pre-COVID

Amidst deals, discounts and cheaper home loans, nearly 62% of respondents in the CII-ANAROCK COVID-19 Sentiment Survey consider it expedient to buy homes right away. 24% respondents have already booked properties (81% of this segment were previously unsure of buying) and 38% opted for newly-launched projects. The report was unveiled today by CII and knowledge partner ANAROCK at the 3rd CII Real Estate Confluence themed Indian Real Estate Vision 2025.

Real estates popularity as an investment asset class increased perceptibly post COVID-19. About 57% respondents now favour property over fixed deposits, the stock market, and gold. 59% property-favouring respondents were convinced after the pandemic unfolded, after riding the fence of uncertainty before COVID-19.

Anuj Puri, Chairman – CII Real Estate Confluence 2021 & Chairman – ANAROCK Property Consultants

Anuj Puri, Chairman – CII Real Estate Confluence 2021 & Chairman &#