The average size of independent/builder floor flats outstrips that of apartments, and the average sizes have been increasing over the period. In contrast, apartment sizes were shrinking until 2021 (post the pandemic).
Category: Luxury Homes
The survey also highlighted the demand for bigger homes. At least 48% NRI respondents preferred larger homes of 3BHK configurations (>1,500 sq. ft.) while 28% favoured 2BHKs
Noida accounted for the maximum new luxury share (73%) in the first half of this year, followed by Gurugram with a 22% share, and Greater Noida with a 5% share.
Premium Homes Launches at 36% in Q2 2021, Affordable Housing Share Dips to 20%
- Of 36,260 units launched in Q2 2021 in the top 7 cities, the premium segment (priced b/w INR 80 lakh to INR 1.5 Cr) had the highest share (approx. 13,130 units); mid-segment (INR 40-80 lakh) had a 32% share (nearly 11,760 units)
- Hyderabad, Bengaluru & Chennai together comprised a 72% share of total new premium supply in the second quarter
- Covid-19 dents affordable housing supply share – reduced to 20% (approx. 7,230 units) as of Q2 2021
- In the pre-COVID-19 period, affordable housing supply share dominated; post-pandemic, share drops dramatically from 40% in 2019 to 30% in 2020 – at 20% in Q2 2021
- Developers strategically following trends – buyers of affordable homes most affected economically by COVID-19; high unsold affordable housing stock another concern at 33% of total 6.54 lakh unsold units in top 7 cities by Q2 2021-end
The pandemic has significantly altered previously dominant trends in the Indian residential market. Notably, it has dented the overall new affordable housing supply share across the top 7 cities. Latest ANAROCK research indicates that out of the total new launches of approx.
Fractional ownership platforms attract investors interested in not just building future income (in case of commercial or even residential properties) but also in accessing the property (resorts or vacation homes) personally for a specific period
2014 to 2020, rental prices in the top luxury markets saw consistent y-o-y growth – averaging between 3-6% annually. Capital appreciation in this period either remained range-bound or varied each year
NRIs are looking to make the most of the prevailing market conditions in India, including discounts, offers and lowest-best home loan rates.