According to reports, Bengaluru and Hyderabad are anticipated to accelerate India’s residential property turnaround in 2022, at a moment when house sales are picking up steam as a result of historically low home loan interest rates over the last 15 years as well as lowest recorded affordability fueled by steady real estate prices.
Since these three cities had an upsurge in homebuyer engagement following the second wave of the coronavirus pandemic, tier-II towns such as Surat, Jaipur, and Patna saw the greatest rise in online property search volume in 2021. Surat, Jaipur, Patna, Mohali, Lucknow, and Coimbatore are among the ‘cities to monitor for building-up residential demand,’ according to the index.
According to Real estate index the number of online property searches by high-intent buyers. This indicator is a definite conclusion of housing interest in India’s 42 most populous cities.
“Year 2021 will undoubtedly be remembered as a year of good transformation in residential real estate. “We are certain that the robust trend throughout the housing markets will continue into the calendar year 2022, assuming India is able to successfully address the threat of the Omicron variant transmission,
Spacious residences should be the more liked among buyers in 2022, according to the index, as firms seek to provide working from home arrangements in the face of Omicron variant concerns. According to data, in 2021, online inquiries for homes having 3+BHK layout increased by 15% month over month.
“Throughout 2022, major big cities of Mumbai, Bengaluru, and Hyderabad likely fuel a rebound in housing demand.” Here on basis of continued working remotely guidelines, we’re witnessing growing momentum in tier-II cities like Surat, Jaipur, Patna, Mohali, Lucknow, and Coimbatore. Homebuyers are increasingly gravitating for bigger houses and locations featuring good healthcare, privacy, and outdoor areas. By 2022, the industry will be shaped by shifting consumer preferences in residential real estate, as well as digital penetration from across supply and demand value chain.
Whereas an estate’s cost is inversely proportional to its size and amenities, internet searches for properties costing as much as Rs 2 crore have increased as well – 1.1x more inquiries were reported on the index for luxury properties in 2021.
Despite the poor exposure the NCR has received as a result of construction delay and investor insolvencies, research index predicts that Extension in Noida would see strong buyer demand in future
According to the report, Noida Extension had the highest proportion of nationwide online real estate online traffic in the year and t This really is largely due to the region’s relative affordability, and even the fact that the centre as well as the public authority of Uttar Pradesh have recently revealed many massive infrastructure development projects for the area.
According to the report, overall real estate market inside the mega – cities of Mumbai, Bengaluru, and Delhi may recover in 2022 as enterprises hire more people. These three cities accounted for the majority of the web search activity for leasing in 2021.
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