Real estate continues to be the top investment choice for 59% of Indians during the first half of the year, with 57% of investors focusing on premium properties to generate rental income, according to a report by FICCI and Anarock Property Consultants. The demand for larger homes has surged, with 51% of buyers preferring 3 BHK units, reflecting a growing desire for spacious homes. Of these buyers, 67% are looking for properties to live in, while 33% are investing.
The report highlights a shift in consumer preferences, with many now favoring under-construction properties over ready-to-move homes, signaling increased confidence in developers and the regulatory landscape. The ratio of ready homes to new project launches has seen a sharp decline from previous years.
Though properties in the Rs 45-90 lakh range remain in demand, there is a rising interest in premium homes, with 28% of buyers opting for homes priced between Rs 90 lakh and Rs 1.5 crore. Apartments remain the most popular choice, but demand for residential plots is growing, particularly in southern cities.
Buyers are prioritizing factors such as timely delivery of projects, high-quality construction, and good ventilation in homes. However, more than half of homebuyers expressed dissatisfaction with affordable housing, citing concerns around poor location, construction quality, and small unit sizes.
© 2023 Rera News. All rights reserved.