New Delhi [India], Dec 3 (ANI / ThePRTree): Sunil Agrawal and Associates (SAA), real estate experts at Indore, conducted an online consumer opinion survey to understand real estate industry trends in the Indore market.
More than 1,700 people took part in the survey, answering ten questions based on preference, budget, location and choice of property. Responses were recorded via an online form, then the Sunil Agrawal and Associates (SAA) team gathered the data and analyzed it.
The survey aimed to analyze the home buying preferences of potential home buyers after the foreclosure. The combined responses were considered the emerging trends in the Indore property market. The object served all stakeholders – consumers, developers, investors, sellers and owners, including locals and expats with an insight and perspective of the potential buyer. The survey reflected a positive development in the local real estate market.
“After the foreclosure there has been a positive change in real estate market trends in Indore which has been accompanied by increased awareness of real estate not only as an end use but also as an investment. Although the city is moving towards normalcy in these unprecedented times, home buyers have become more concerned with safety and builder-to-consumer confidence, ”said Vipul Agrawal, Managing Director of Sunil Agrawal and Associates (SAA).
The survey showed that more than attractive offers and lucrative prices, builder-consumer confidence was kept on a pedestal – around 44% of respondents chose this option. Another such attribute was the sense of security associated with owning a physical asset. Without surprise! 62 percent said security came from investments in real estate rather than gold, stock markets or term deposits.
Another aspect the survey touched on was type of property, budget, and location. The data showed that respondents were more interested in newly launched properties, followed by ready-to-move-in properties. This was not the trend of 2020. At the same time, the investment budget has exploded compared to 2020, and the choice of properties has shifted to more than 3 BHK rather than smaller ones. People are willing to invest around 60 lakhs or more. Whereas before that was around 40 lakhs or less. The preferred location was AB Bypass Road, followed by Vijay Nagar due to its convenience, new developments, connectivity and comfort.
The major change in real estate trends has been the way consumers prefer to interact with the property they are considering buying. A large number of people, around 73 percent, have chosen an organized real estate service provider to make a real estate investment. “Real estate investing has taken a new shape and touched new growth rates, making it a win-win situation for developers, customers and service providers,” added Mr. Agrawal.
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