With South India leading the revival in India’s real estate market, homeowners of Bangalore, Hyderabad, and Chennai have emerged as the most serious sellers, revealed the latest consumer data of Magicbricks’ Owner Services. As demand for residential real estate gradually gathers momentum across the country, consumer data also suggests that 55% of Owner Services’ users are from outside the four metros (Delhi, Mumbai, Kolkata, Chennai).
In terms of demographics, 80% of the users are male, and 20% female. It is interesting to note that 50% of the users are in the range of 40-45 and 45-plus age groups. A huge majority that is 60% of users are salaried while 30% are self-employed.
“Transportation and metro connectivity in the Southern cities has increased the sale of property in the peripheral areas as buyers look for affordability and connectivity. Also, the rising property prices in these select pockets may entice sellers to make a profit,” mentioned the survey.
Magicbricks’ Property Buyer Sentiment Survey (2020) findings suggest that repeat buyers are back in the market. Additionally, people are looking for bigger homes. by selling smaller homes while consecutively buying bigger homes.
Additionally, low interest-rates and jump in buyer interest in the last six months have reversed the low- transaction volume situation plaguing real estate.
(Source: Economic Times)