Real Estate Reigns Supreme: Changing Buyer Preferences Uncovered

FICCI-ANAROCK survey highlights a significant shift in Indian consumer sentiment, revealing that 59% now favor real estate as their top investment choice over traditional options like mutual funds. The “Homebuyer Sentiment Survey – H1 2024” indicates a strong preference for personal home purchases, with 67% prioritizing ownership amidst rising rental rates. Additionally, 57% are investing in properties for rental income, reflecting a practical approach to real estate.

While interest in ready-to-move homes has declined, demand for new projects has increased, driven by a preference for modern amenities. A notable 51% of buyers are now opting for larger 3BHK units, and interest in premium properties priced between Rs90 lakh and Rs1.5 crore has surged.

However, buyer concerns regarding project completion (98%), construction quality (93%), and ventilation (72%) highlight a critical need for developers to enhance sustainability and quality. Over 53% of homebuyers expressed dissatisfaction with affordable housing due to issues like location and construction quality. Industry leaders stress the importance of regulatory transparency and the growth of smaller REITs, which are making real estate investment more accessible.