Two out of every third home buyer is now back in the real estate market, reveals consumer sentiment surveys conducted by a property portal. Out of them, 33% think that it is a good time to buy a new house while 32% others are in the finalization stage.

The property portal, in their analysis said 65% buyers are in the market now while only 38% were actively searching for houses post-lockdown 1.0. In addition, buyers are still looking at real estate as the best asset to invest in. COVID-19 has further assisted in increasing the adoption of digital platforms with 55-60% buyers/tenants expressing preference for virtual visits and meets.

“On the tenant side, 38% of tenants are looking out for a new house for larger spaces. While looking for a new rental place, the need for safety and hygiene has taken a leap due to the spreading virus. 78% of the tenants said that they will add legal safeguards in the rental agreement regarding future uncertainties and further, 76% agreed that COVID-19 free property is an extremely important factor for them,” the survey said.

77% of the home buyers agreed that they are looking for a house for end-use whereas only 23% are willing to purchase for investment purposes.

While the preference has shifted towards digital means to buy or rent homes, the need for physical visits persist but only for finalizing the deal, confirms 55% of the homebuyers and 60% of the tenants.

With work from home becoming the new reality, proximity to the workplace, which was once a major concern, has ped down in the list. However, proximity to key areas like market, hospital, and school, as well as safety were a couple of aspects that have taken over the minds of buyers and tenants while shortlisting a property.

Source:  http://naredco.in