With home loan interest rates going north, prospective investors are moving towards suburbs and peripheral areas of the cities.
According to a recent survey conducted by MagicBricks, around 81% of respondents said they would defer the purchase. In other words, more and more buyers are will prefer to wait for some more time. They won’t buy any fresh properties.
However, according to the survey, 57% of the respondents want to buy in the next six months.
The survey says that due to rising home loan interest rates, investors are more or less out of the property market in the metro cities.
Around 60% of respondents said they are living in rented houses. 50% of the respondents are buying properties for immediate self-use and another 34% are buying for future end use.
More than 66% of the prospective buyers have reconciled to buying in the suburbs and peripheral areas. But they are buying only in those areas and localities that are close to employment hubs or areas that have strong transport linkages to these emerged high on user priority lists. They also keep in mind such other facilities like civic amenities, social infrastructure and return on investment.
Around 45% respondents feel that social infrastructure is the most important factor while buying a property. Schools, hospitals, and institutes of higher education, shopping and entertainment facilities are key social infrastructure.
Among civic infrastructure, water and power supply and back-ups, good quality sanitation, health and waste management are more important.
According to a recent survey conducted by MagicBricks, around 81% of respondents said they would defer the purchase. In other words, more and more buyers are will prefer to wait for some more time. They won’t buy any fresh properties.
However, according to the survey, 57% of the respondents want to buy in the next six months.
The survey says that due to rising home loan interest rates, investors are more or less out of the property market in the metro cities.
Around 60% of respondents said they are living in rented houses. 50% of the respondents are buying properties for immediate self-use and another 34% are buying for future end use.
More than 66% of the prospective buyers have reconciled to buying in the suburbs and peripheral areas. But they are buying only in those areas and localities that are close to employment hubs or areas that have strong transport linkages to these emerged high on user priority lists. They also keep in mind such other facilities like civic amenities, social infrastructure and return on investment.
Around 45% respondents feel that social infrastructure is the most important factor while buying a property. Schools, hospitals, and institutes of higher education, shopping and entertainment facilities are key social infrastructure.
Among civic infrastructure, water and power supply and back-ups, good quality sanitation, health and waste management are more important.
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