Preference for 3 BHKs, investment op on the rise, ANAROCK Consumer Sentiment Survey shows
Mumbai, Mar 1 (The CONNECT) - Women are emerging in greater numbers as key home purchase decision-makers. Over the years, an increasing number of Indian women have been making independent and individual investments in the real estate market. According to the latest ANAROCK Consumer Sentiment Survey, real estate is now the preferred investment asset class for 64% of women respondents. It was 62% in the last study (H2 2020) and 57% in the pre-Covid survey (H2 2019).
3BHKs are the most favoured configurations for approx. 41% women respondents, followed by 36% women home seekers voting for 2BHKs. At least 11% are looking for 4BHK homes or larger.
Anuj Puri, Chairman - ANAROCK Group, says, "While traditionally, women have always been an integral part Indian families' homebuying process, the trend of women as independent buyers and investors with housing purchase has increased markedly since the pandemic – from 57% votes in pre-COVID-19 survey to nearly 64% in the current edition. Now, we see that the pandemic has also influenced their property preferences.”
There has also been an increase in women looking at real estate from an investment perspective. Of total women respondents looking to buy homes, approx. 26% declared investment their primary motivator, while 74% had an end-user perspective. Contrastingly, a year ago, the same survey showed an end-use vs. investment ratio of 82:18. Their strengthening investment sentiment is a clear indicator of women's increasing financial independence.”
The survey indicates that over 38% of participating women home seekers prefer the city peripheries, while 30% will buy homes within the city limits. Only 11% are eyeing the city centres.
In budget categories, at least 67% of women home seekers will buy properties in the mid and premium segments (properties priced INR 45 lakh to INR 1.5 Cr.) Of this, approx. 34% are focusing on a budget range between INR 90 lakh to INR 1.5 Cr, followed by 33% preferring homes within the INR 45 lakh to INR 90 lakh budget bracket.
In the same survey last year, affordable and mid-segment homes priced within INR 90 lakh were the top pick of participating women home seekers, with nearly 66% voting for this budget range.
Moreover, there is a marginal rise of 2% in demand for ultra-luxury property priced >INR 2.5 Cr – from 5% in the H2 2020 survey to 7% in the current H2 2021 edition.
A very significant 79% of women respondents prefer either ready-to-move homes or properties to be completed within the next six months. Over 10% of women respondents are looking to buy properties in newly launched projects, while another 11% will purchase homes in projects scheduled for completion in more than one year.