Home seekers give least priority to budget housing

Home seekers give least priority to budget housing

CII-Anarock Survey-Home seekers give least priority to budget housing 

Hyderabad:?Contradictory to mainstream thinking, the most recent CII-Anarock Consumer Sentiment Survey shows that more than 69% of home buyers favour properties worth Rs 45 lakh and above.? 

This is the first instance where affordable housing was given the least priority. The home seekers response to the survey is listed below. 

Price Range 

Percentage of interested respondents 

Rs 45 – 90 lakhs 

35% 

Rs 90 lakhs – 2.5 crores 

34% 

< Rs 45 lakhs 

27% 

In the past H2 2020 review, around 36% of respondents opted for budget housing.? 

"The budget range which this survey recognizes as the best seller is a surprise, but we can conclude this section of buyers are financially least impacted by the pandemic. Online home buying is obtaining traction which is close to 60% which was only 39% in the pre-pandemic period." - said Anuj Puri, administrator, CII Real Estate Knowledge Session, and executive, Anarock Group. 

"From finding the property, documentation, legal advice to down payments, homebuyers are depending on new digital technology driving the Indian housing sector," Puri added. 

Below are the highlights of the survey results 

  • 41% of the participants are considering second homes for self-use. 

  • 53% fancying homes in mountain regions.? 

  • Due to work-from-home and e-schooling, more than 65% of remote working respondents are looking for larger homes. 

  • 68% intend to relocate to the outskirts or suburbs to buy them. 

This survey was conducted between January and June 2021, with 4,965 participants across India responding through various digital platforms. In the survey, NRIs mainly preferred properties in the price range of Rs 1.5-2.5 crore.