According to a poll conducted by property consultant agency 360 Realtors, over 41% of respondents had a reasonable prognosis for the real estate business, while 19.4% have a promising outlook.
At the start of the calendar year, real estate was on a firm footing, but that has weakened in the face of the current crisis. However, based on lessons learned from the previous year, the industry is prepared to make a faster comeback this time,” the study added.
Several subclasses of the housing market, such as rental homes, co-living, student housing, low-cost properties, planned projects, and second properties, are expected to rise in the future.
360 Realtors conducted a client sentiment poll of 1,200 discriminating and potential homebuyers to assess market sentiment in light of the financial system’s reopening following shutdown 2.0. The survey was carried out with the use of an online questionnaire.
They conducted a study to create an insightful report on how market factors like emotions, economics, and political scenario can impact the Indian property market in the future. The Indian real estate market is currently at a crossroads. Following the setbacks caused by the second lockdown, demand is picking up again. This would undoubtedly pave the way for a faster recovery,” said 360 Realtors’ Founder and MD, Ankit Kansal.
When asked which property type was the most popular, 48.9% said flats, followed by 25.6 percent who said plotted development.
This is a noticeable trend in the industry, as more and more guests are opting for isolated and big accommodations. Furthermore, because the WFH method of operation will continue for a while and training will most likely be done online, households now require larger spaces. The need for plotted developments and townships in the suburbs will rise as a result of this.
Around 42% of respondents stated that they plan to buy a home in the next 12 months. Almost a quarter of the people polled said they couldn’t decide whether or not to buy something.
The poll has also emphasized the importance of real estate as a smart and risk-averse investment vehicle. 58.5 percent of poll respondents said they want to invest in real estate in the future. When the financial markets remain fragile and fatigued, physical assets such as real estate will likely be a popular alternative for investors.
The 1200 people who took part in the survey were spread across India. The Delhi-National Capital Region accounts for 23% of the total, while the Mumbai Metropolitan Region accounts for 19%. (MMR). Bangalore accounts for 17% of the total number of responders. Pune, Chennai, Hyderabad, Kolkata, Patna, Lucknow, and Cochin are among the other cities.
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Real estate as a mode of investment FAQ's:
Rather than using a property as a primary residence, real estate investing refers to the acquisition of a property as an investment to create income. A house, an office building, agricultural land, a business plot, and so on are all instances of real estate. It is thought to be a safe investment option.
In general, real estate is a fantastic investment option. It can generate ongoing passive income and, if the value increases over time, it can be a wise long-term investment. You may even make it a part of your overall wealth-building strategy.
Rather than using a property as a primary residence, real estate investing refers to the acquisition of a property as an investment to create income. Real estate investments include apartment rents, REITs, commercial real estate, land, and crowdfunding platforms.