In a major trend reversal over the last eight years, the once-most active housing sales markets of Delhi-NCR have dropped sharply in their sales share. The western markets of MMR and Pune are now driving the most housing sales among the top 7 cities, ANAROCK data reveals.
As many as 58,290 homes were sold in the top 7 cities in Q1 2021 in comparison to 45,200 units in Q1 2020 - effectively breaching pre-COVID levels. MMR and Pune together accounted for 53% of housing sales in the quarter –
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
While the stock market prices are at their peak, property prices have bottomed out and various offers and discounts result in further reductions in acquisition costs. Affordability of homes in top cities is also at its best – estimated to be 27% in FY21 as against 53% in FY12
2020 kick-started a trend reversal wherein larger homes - spacious enough to accommodate home offices and online study spaces for children - began to be in higher demand
Women’s preference for real estate has risen post-COVID-19 – from 57% votes in the pre-COVID survey to 62% in the current edition. Of 3,900 survey participants, 36% were women and of these, at least 70% consider the current time as ideal for buying a home
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
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.
