ANAROCK Releases Real Estate Consumer Outlook - H2 2018

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51% homebuyers seek rental income, 39% prefer affordable housing
39% prefer to invest in housing priced below ?40 Lakh
68% seek property for end-use; 52% favour compact 2BHKs
51% of investors focused on rental returns
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Commenting on the survey, Anuj Puri, Chairman - ANAROCK Property Consultants says, "With the now discernible impact of RERA, DeMo and GST, housing sales are seeing an upward trajectory in 2018 q-o-q. New launches have also gone up this year with affordable housing witnessing significant growth. NRIs see India's rebooted real estate market environment conducive enough to justify property investments, especially on the back of the depreciating rupee."

Nearly 69% prospective buyers are looking to buy property for end-use 84% are looking for homes which are either ready-to-move-in or slated to complete in the next 6 months. Ready-to-move-in properties are garnering maximum interest from buyers who prefer WYSIWYG (what you see is what you get) assurance. Buyers continue to perceive risks associated with newly-launched projects in terms of delays and shady dealings by some developers 61% property seekers are abandoning their prolonged wait-and-watch mode and are looking to buy a property within a year. As many as 24% will take the plunge and buy their property immediately, while 61% are looking to buy within the next one year. "New millennials focused on home purchase rather than renting show an overwhelming preference for compact 2BHK configurations," says Puri. "In fact, 52% respondents lean towards this specification. Young professionals prefer to buy homes in locations close to their workplaces and are small enough to be affordable both on base cost and maintenance."

Other survey findings:
New consumers now rule the previously investor-driven realty market and have the upper edge in the strengthened regulatory environment. Investors are ready to exit the market even at lower profit margins. Developers are now aware that apart from various other factors, the power of social media has put buyers in the driver's seat and customer satisfaction cannot be trifled with before, during and after a sale. Download ANAROCK's survey at https://bit.ly/2OP6xyS
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