Almost 80% of prospective buyers are looking to buy a house within the next 1 year.
The residential segment was the only silver lining in an otherwise bland 2020 for the real estate sector. After staying on the back foot at the beginning of the pandemic, the sector was successful in deflecting the covid curveball, demonstrating remarkable resilience and registering huge sales in Q3 and Q4 2020, which has set the tone for a promising recovery in 2021.
The housing market is clearly burgeoning; as per industry sources, almost 80% of prospective buyers are looking to acquire a house within the next one year, while 65% of the buyers prefer ready-to-move-in houses in 2021. The home ownership sentiment is still strong, induced by decision drivers such as flexible payment plans, low interest rates, discounts and the ease of home buying with the increased use of technology.
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SOURCE: LIVE MINT