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<ul><li>Real estate tops as preferred investment asset class for 47% respondents. </li><li>About 58% of homebuyers, who are primarily end-users, are looking for ready-to-move-in (<keyword id="15089675" type="General" weightage="50" keywordseo="rtmi" source="Orion">RTMI</keyword>) properties. </li><li>Housing prices recorded a 7% year-on-year increase in April-June quarter of 2022.</li></ul> Real estate is <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>’s most-preferred asset class for investments in India, according to a Housing.com and <keyword id="6404896" type="General" weightage="80" keywordseo="naredco" source="Orion">NAREDCO</keyword> survey released on Monday. Nearly 50% of prospective customers are expecting prices to rise in the upcoming months due to strong demand during festive season, the survey claims. Housing.com, one of India’s full-stack prop-tech platforms, and NAREDCO (National Real Estate Development Council) conducted a joint survey of over 1,000 participants to gauge consumer sentiment and released the ‘Residential Realty Consumer Sentiment Survey H2 2022' report. As per the survey findings, 47% of respondents prefer to invest in real estate, the highest compared to other asset classes such as stocks, gold and fixed deposits. The data shows that 21% of respondents prefer to invest in the stock market, 16% in fixed deposits and 15% in gold. Housing prices recorded a 7% year-on-year increase in the April-June quarter of 2022. "India's residential market has seen a sharp revival in demand after the second wave of the Covid-19 pandemic. The rising cost of borrowing, increase in input costs and strong demand has resulted in a rise in housing prices," said, <keyword id="278771" type="General" weightage="50" keywordseo="dhruv-agarwala" source="Orion">Dhruv Agarwala</keyword>, Group CEO, Housing.com, PropTiger.com and Makaan.com Homebuyer sentiment has received a significant boost due to increased importance of home ownership, the need for extra space amidst hybrid-work policies adopted by many companies, and the exigency for safety and security. The survey observed that 58% of homebuyers, who are primarily end-users, are looking for ready-to-move-in (RTMI) properties. "Real estate sector in India is witnessing green shoots of recovery, thanks to various policy interventions implemented by the government, aiding the real estate sector to grow and ensuring speedy recovery of the industry post-Covid,” said <keyword id="5678919" type="General" weightage="50" keywordseo="rajan-bandelkar" source="Orion">Rajan Bandelkar</keyword>, President, NAREDCO. Will the repo rate hike deter homebuyers in India? The residential markets across India remain upbeat despite growing concerns about rising interest rates. The expected increase in <keyword id="30067" type="General" weightage="50" keywordseo="rbi" source="Orion">RBI</keyword> repo rate by 50 basis points will not deter homeowners from purchasing property in India, says <keyword id="3400735" type="General" weightage="50" keywordseo="ankita-sood" source="Orion">Ankita Sood</keyword>, head of research at Housing.com. The repo rate stands at 5.4% as of now and the RBI may hike rates by 50 bps in its upcoming policy meeting this week. “While the hike was imminent, it remains below the pre-pandemic levels of 5-6%. The confidence in future earnings, coupled with the pandemic-induced importance of homeownership, will continue to drive residential sales not only in the top metros but also in the Tier-II cities,” added Sood. According to the Housing.com-NAREDCO report, the income outlook continues to strengthen and has reached an all-time high of 65% since 2020. “Declining interest rates were a key reason for the massive housing demand surge in the past two years. Also, the pandemic reinstated the importance of owning physical assets like real estate. This time around, the demand revival even included the previously rent-favouring millennials – who continue to be on the market for homes,” Anuj Puri, Chairman - <keyword id="6596330" type="General" weightage="50" keywordseo="anarock-group" source="Orion">ANAROCK Group</keyword>. Digital sales and marketing platforms have become the mainstay not only to search for a home, but also to close deals online or in just one or two site visits. The survey shows that 34% of homebuyers have suggested that they are willing to buy a home completely online or just after one site visit. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/icicidirect-launches-online-platform-flash-trade-for-fo-traders/articleshow/94454273.cms">ICICIdirect launches online platform Flash Trade for F&amp;O traders</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/great-resignation-impact-being-felt-in-india-as-attrition-rate-remains-elevated-at-20-in-2022/articleshow/94453768.cms">Great resignation impact being felt in India as attrition rate remains elevated at 20% in 2022</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/india-inc-set-to-offer-average-salary-hikes-of-at-least-10-4-in-2023-says-aon/articleshow/94452941.cms">India inc. set to offer average salary hikes of at least 10.4% in 2023, says Aon</a>

Prospective homebuyers expect property prices to increase

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New Delhi, <keyword id="1390483" type="General" weightage="20" keywordseo="Housing-sales" source="Orion">Housing sales</keyword> rose 8 per cent annually during the April-June period to 80,250 units across eight major cities, mainly on increased demand in Mumbai and Pune, according to PropTiger. Sales stood at 74,320 units in the year-ago period across primary (fresh sales) residential markets of the top eight cities. The housing brokerage firm on Wednesday released its Real Insight Residential - April-June 2023 report, stating that housing sales rose in three cities Mumbai, Pune and Ahmedabad but declined in other five major cities -- Delhi-NCR, Bengaluru, Hyderabad, Chennai and Kolkata. "India's top eight residential markets continue on a growth path. The RBI's decision to pause the hike in the key lending rate helped in sustaining strong positive sentiments for buying residential properties," Vikas Wadhawan, group CFO of REA India, said. PropTiger, Housing.com and Makaan.com platforms are owned by REA India, which is part of Australian firm REA, and News Corp. "The driving factors behind the uptick in housing sales over the last two years are pent-up demand from the COVID-affected period, growing appetite for home ownership, revival in the economy post-pandemic, and the evolving need for more spacious homes," he said. As per the data, housing sales in Ahmedabad increased 17 per cent to 8,450 units during the April-June period to 7,240 units in the year-ago period. Bengaluru saw a 19 per cent decline in sales to 6,790 units from 8,350 units while Chennai witnessed a 5 per cent fall to 3,050 units from 3,210 units. Housing sales in Delhi NCR fell 28 per cent to 3,230 units from 4,510 units. Hyderabad too witnessed a 3 per cent drop in demand to 7,680 units from 7,910 units. Housing sales in Kolkata decreased 40 per cent to 1,940 units from 3,220 units. Mumbai Metropolitan Region (MMR) saw a 16 per cent increase in sales to 30,260 units during April-June period from 26,160 units in the year-ago period. In Pune, sales increased 37 per cent during April-June to 18,850 units from 13,720 units in the corresponding period of the previous year. Delhi-NCR market includes Gurugram, Noida, Greater Noida, Ghaziabad and Faridabad while MMR includes Mumbai, Navi Mumbai and Thane. REA India Head of Research Ankita Sood noted that MMR and Pune contributed 61 per cent to total housing sales across 8 cities. Demand in localities such as Thane West and Dombivali in Mumbai and Charholi Budruk and Hadapsar in Pune have been high, she said. In terms of new housing supply, PropTiger reported that launches increased 11 per cent to 1,13,770 units during the April-June from 1,02,140 units in the corresponding period of the previous year.

Housing property sales in Bengaluru, Delhi sees a decline but Mumbai, Pune maintain pace

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Prospective homebuyers expect property prices to increase

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Housing property sales in Bengaluru, Delhi sees a decline but Mumbai, Pune maintain pace

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