Real estate as best investment option feel 76% people
NoBroker Real Estate Report 2021 has revealed some interesting facts in its survey across several big cities
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Hyderabad As many as 76 per cent of people considered investment in real estate is the best option, according to a survey report by NoBroker.com, India's first Proptech unicorn that is 100 per cent brokerage-free. Interesting trend is that property emerged as the most sought after investment destination for the fifth consecutive year, the India Real Estate Report 2021 said.
The insights are based on a survey conducted with over 21,000 customers across Hyderabad, Delhi-NCR, Bengaluru, Mumbai, Pune, and Chennai, as well as the data captured from more than 16 million users on its platform.
It indicates the increasing sense of security that comes from buying a house. SIPs/stocks and gold were very distant second and third. Bitcoin was selected by a very tiny percentage as an investment option.
The thought was echoed in survey with sellers where 43 per cent of them suggested that they were looking to purchase another property for investment purpose in 2022. These findings along with the fact that 84 per cent of people believing that right now is the best time to buy a property for end use, suggest that the market is very buoyant. The findings are in sync with the continued WFH culture and hybrid work setup, discounts offered by builders and low home loan rates.
Due to partial lockdowns and restricted movements, buyers have had an opportunity to save money, which would otherwise be spent on vacations and other lifestyle choices. This coupled with the need for owning a house translated into bigger buying budgets.
The demand for 3BHKs has also ramped up to 33 per cent compared to 29 per cent last year. 2BHKs continue to be the most in demand unit size opted by 37 per cent of people. However, some percentage of their popularity is distributed into 3 and 4 BHK units.
As offices had started reopening towards the last quarter of 2021, there's been a monumental shift for staying close to workplace. 80 per cent of tenants this year prefer to stay close to their workplace while 78 per cent of buyers are looking to purchase a house within the city. In 2020's report, distance from workplace had slid down many notches in the priority list for tenants.
Saurabh Garg, Co-Founder and CBO – Nobroker.com said, "Bigger houses in demand and bigger buying budgets along with a preference for buying within the city limits indicate a positive environment for the real estate sector in 2022. The year 2021 has been a happening year with lots of positive changes and innovations across the real estate market."
