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2020 Real Estate Insights
Did the year 2020 change how India Lives?
Real Estate is the third largest employer in the country. The pandemic of 2020 changed the way Indians perceive property investments, renting to some or the other extent owing to the remote work culture. NoBroker Real Estate Report 2020 is based on a survey conducted over 17,652 customers across the Indian Metro Cities like Bangalore, Chennai, Delhi-NCR, Hyderabad Mumbai & Pune. Some insights also have been established from the search and transaction behavior of more than 10 Million NoBroker customers.
Top 4 insights from the Real Estate Report 2020 are as follows:
● Millennials are showing more interest in investing in Real Estate & owing homes.
● House rents have been reduced during the lockdown period or been waived off by 50% landlords.
● There has been an increased interest in buying bigger homes with higher budgets(over 1 Crore).
● Brokerage worth Rs. 1021 crores have been saved in 2020. Thanks to the disruptive real estate platform – NoBroker.com.
Check out the new trends in Indian Real Estate Market in 2021.
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The comprehensive real estate report carries trends in real estate in rental as well as buy/sell space. It is representative of the humongous data that NoBroker receives year on year from its database of 7.5 million as well as a survey it conducted across cities with over 14000 participants.
It carries key trends that run across cities plus trends specific to property renting, buying, & selling in each city.
Top insights from the report are mentioned below –
– 64% of tenants are looking to purchase a property in 2020
– 85% consumers prefer ready-to-move in properties
– 71% consumers are looking to buy a house within the budget of INR 60 lakhs
– Home-loan rate cuts have ushered in positive sentiment among potential buyers
– 73% consumers check Vastu before buying a property