Square Yards study shows Crore-pati home buyers swing toward large configurations as pandemic wave wanes
MUMBAI, Feb 9 (The CONNECT) – A gradual but consistent shift of home buyers towards larger and upgraded residences has been noticed over the last year.
The latest quarterly report by Square Yards, ‘India Residential Overview: Oct-Dec 2021’ shows that
rental trends, however, stubbornly stuck to 1 and 2BHK units within a budget of Rs 10,000-20,000 per month. The cities covered in the report include MMR, Pune, Gurugram, Noida, Bengaluru and Hyderabad.
Few highlights of the Report that can be seen
- 43% of the online property searches were for 3BHK and larger configuration in 2021.
- 35% of the online property seekers looked for a home sized between 1000-2000 Sq. Ft. in 2021, a considerable shift from the pattern noted in 2020 wherein the share was less than 20%. This figure stood at 40% for Q4, 2021.
- Properties priced above Rs 1 Crore formed 33% of the total online searches in Q4, 2021 a rise of 6% from Q1, 2021.
- Independent homes gained prominence in 2021 recording a rise of 14% in demand since Q1, 2021.
- MMR continued to be the most searched city in Q4, 2021 for both sales as well rented accommodations.