Real estate once again emerges as favourite investment asset class: ANAROCK
New Delhi: Almost half the peaple in the country prefer real estate as their favourite investment asset class. In survey conducted by property constancy ANAROCK, about 59 percent of these respondents who said that real estate is the most preferred asset class are end users.
The millennials (aged 25-36 years) constituted about 55 cent of the property seekers. Around 62 percent home seekers intend to pay premium for properties of big and renowned real estate developers with lowest execution risk.
“The security of owning a physical asset during a coronavirus-like crisis now combines with a rising aversion to high-risk investments. As a result, the demand for residential real estate has increased. Millennials are key demand drivers,” said Anuj Puri, Chairman - ANAROCK Property Consultants.
The survey also finds that there is no impact of corona virus outbreak on demand for affordable homes demand as about 36 percent respondents sought properties priced less than Rs 45 lakh. Around 82 percent of the home buyers have purchased properties in Mumbai region, Bengaluru or Hyderabad.
Ready-to-move-in properties are still quite popular in the country, a trend that’s rated few years back. About 34 percent of survey respondents who prefer ready to move houses are investors.
There is limited construction going on in the country right now and people possibly want to avoid under construction houses in such a scenario.
Mumbai, Banguluru and Hyderabad emerged as the most preferred cities in the country. As many as 1,910 people participated in the survey.