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56 per cent people expect home prices to increase this year: Survey
“The survey also identifies an increasing demand for newly launched properties in cities like MMR (Mumbai) and Bengaluru. Though ready-to-move-in homes are still the most preferred category for 32 per cent of respondents, this denotes a 14 per cent reduction for this preference since the first Covid wave,” the consultant said in a statement.
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56 per cent people expect home prices to increase this year: Survey
A survey conducted by property consultant Anarock and industry body CII found 56 per cent of respondents expected housing prices to increase in 2022.
The respondents expected housing prices to rise in the current calendar year due to inflationary pressure in construction raw materials, coupled with overall operational costs for developers.
In the survey, 5,210 participants took part via various digital platforms across tier 1, tier 2, and tier 3 cities.
“The survey also identifies an increasing demand for newly launched properties in cities like MMR (Mumbai) and Bengaluru. Though ready-to-move-in homes are still the most preferred category for 32 per cent of respondents, this denotes a 14 per cent reduction for this preference since the first Covid wave,” the consultant said in a statement.
Over 30 per cent of buyers in Mumbai and Bengaluru have a “positive outlook” on newly-launched projects, possibly indicating a return of investors in these two regions, the statement added.
“The new pandemic-induced desire for home ownership continues to be robust,” Anarock Group Chairman Anuj Puri said.
“At least 63 per cent of previously fence-sitting respondents are now determined to become homeowners. For another 30 per cent, the pandemic has not impacted their buying decisions, effectively resulting in 93 per cent of respondents now convinced home buyers.”
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