As per the survey jointly conducted by some of the reputed firms, it has been found that the potential homebuyers are expecting a rise in housing prices in the next six months on higher input costs. Also, homebuyers are looking for flexible payment plans along with some discounts to purchase their dream homes. An estimate of 73% of people demands the above expectations in the upcoming months.
The report also claims that there are 47% of people look for investment in real estate rather than shares, gold, and fixed deposits in banks. In the survey of the second half of the last fiscal year 2020, the ratio was only 35%. Security and safety have been paramount for homebuyers looking to purchase a house in the expected regions.
The top authorities have claimed that the COVID pandemic has made people own a house. Nowadays people need bigger and smarter houses to live freely. One of the surveys also showed that housing sales have risen to 13% in 2021 with the revival in demand.
As per the survey, 51% of the potential homebuyers are seeking to own a house and feel that the residential spaces will rise in the upcoming six months. The survey conducted by the reputed firms has also opined that government should hike tax rebates on housing loan interest rates, offer less GST rates on construction materials, cut down stamp duty and expand the credit availability to small developers to boost the housing demand.
The survey also pointed out that 57% of the potential homebuyers prefer to buy a ready-to-move-in property for an easy and quick living. Also, 79% of the buyers felt that economy would continue to stay in its growth-oriented form in the next six months. On the other hand, only 21% of the buyers think that the economy would get worse as compared to 41% during the first wave of the pandemic.
