Real Estate Outlook 2015
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A survey of over 1,200 property buyers in India's top 5 cities found the following: - 60% were planning a property purchase in 2015, with over 70% buying for own use rather than investment. - Budget homes under 50 lakhs were in highest demand across cities. - Proximity to schools and hospitals was the top parameter considered when choosing a locality, while track record of builder was most important for choosing a project. - Property frauds and incomplete seller details were the top concerns about buying real estate in India.
Real Estate Outlook 2015
- 1. REAL ESTATE OUTLOOK - 2015 A DEEP DIVE INTO THE PSYCHE OF THE PROPERTY BUYERS OF 2015
- 2. Sample and Demographics Sample Size : 1,244 Survey conducted between 19th December to 26th December ~37% of the respondents were above the age of 46. ~23% of the respondents were between 25 -30 years of the age © Copyright India Property Online Pvt. Ltd., 2014. All rights reserved2 88 % of the respondents were males
- 3. Scope of the Study The top five cities were analyzed to decipher the property buying trends of 2014. The cities under focus for the study were: Delhi Mumbai Chennai Bangalore Hyderabad © Copyright India Property Online Pvt. Ltd., 2014. All rights reserved3
- 4. 60% of the total respondents are planning a property purchase this year © Copyright India Property Online Pvt. Ltd., 2014. All rights reserved4 YES 32 % NO 12% NOT DECIDED 28%
- 5. © Copyright India Property Online Pvt. Ltd., 2014. All rights reserved5 66% 34% DELHI 81% 19% MUMBAI 72% 28% CHENNAI 70% 30% BANGALORE 78% 22% HYDERABAD Bought property for investment Bought property for own and immediate use Over 70% property seekers across cities intend to buy property for end-use
- 6. © Copyright India Property Online Pvt. Ltd., 2014. All rights reserved6 First time home buyers will dominate the property market 60% 34% 6% DELHI 63% 31% 6% 47% 45% 8% MUMBAI CHENNAI 60% 37% 3% BANGALORE 63% 34% 3% HYDERABAD First home purchase Second home purchase > 2
- 7. © Copyright India Property Online Pvt. Ltd., 2014. All rights reserved7 Apartments loosing sheen – individual homes, row houses and land is what Delhi buyers dream APARTMENTS COMMERCIAL PROPERTY INDIVIDUAL HOUSE 57% 6% 13% RESIDENTIAL LAND 11% RETIREMENT HOUSE 2% ROW HOUSE 11%
- 8. © Copyright India Property Online Pvt. Ltd., 2014. All rights reserved8 Apartments top the charts when it comes to Mumbai property purchases APARTMENTS 79% COMMERCIAL PROPERTY 6% OTHERS 3% INDIVIDUAL HOUSE 14% APARTMENTS COMMERCIAL PROPERTY INDIVIDUAL HOUSE 79% 4% 12% RESIDENTIAL LAND 2% RETIREMENT HOUSE 1% ROW HOUSE 2%
- 9. © Copyright India Property Online Pvt. Ltd., 2014. All rights reserved9 Land and Individual homes high on demand amogst Chennai buyers APARTMENTS 29% INDIVIDUAL HOUSE 10% RESIDENTIAL LAND 57% ROW HOUSE APARTMENTS COMMERCIAL PROPERTY INDIVIDUAL HOUSE 35% 2% 26% RESIDENTIAL LAND 20% RETIREMENT HOUSE 5% ROW HOUSE 13%
- 10. © Copyright India Property Online Pvt. Ltd., 2014. All rights reserved10 Retirement Homes trending amongst Bangalore property seekers APARTMENTS 71% INDIVIDUAL HOUSE 7% RESIDENTIAL LAND 57% ROW HOUSE 7% APARTMENTS 42% 2% RESIDENTIAL LAND 12% RETIREMENT HOUSE 5% ROW HOUSE 12% INDIVIDUAL HOUSE FARM HOUSE 5%
- 11. © Copyright India Property Online Pvt. Ltd., 2014. All rights reserved11 Individual Houses top the charts when it comes to Hyderabad property purchases APARTMENTS 36% INDIVIDUAL HOUSE 27% RESIDENTIAL LAND 27% ROW HOUSE 9% APARTMENTS COMMERCIAL PROPERTY INDIVIDUAL HOUSE 34% 6% 41% RESIDENTIAL LAND 6% RETIREMENT HOUSE 3% ROW HOUSE 9%
- 12. © Copyright India Property Online Pvt. Ltd., 2014. All rights reserved12 Budget homes high in demand across India 49% 30% 9% 4% 4% 4% DELHI 51% 9% 12% 11% 12% 5% MUMBAI 39% 35% 12% 3% 5% 6% CHENNAI 22% 22% 21% 21% 14% BANGALORE 36% 46% 18% HYDERABAD Under 30 Lacs Between 30-50 Lacs Between 50-80 Lacs Between 80 Lacs – 1 Crore Between 1-1.5 Crore > 1.5 Crore
- 13. Top 6 parameters that buyers considered before choosing a locality 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% Proximity to schools and hospitals Availability of public transport Security Infrastructure Affordability Future Outlook Delhi Mumbai Chennai Bangalore Hyderabad © Copyright India Property Online Pvt. Ltd., 2014. All rights reserved13
- 14. Top 6 parameters that buyers considered before choosing a project © Copyright India Property Online Pvt. Ltd., 2014. All rights reserved14 0% 10% 20% 30% 40% 50% 60% 70% 80% Track record of the builder Amenities provided Locality Affordability Payment plans available Proximity to basic amenities like grocery store, hospital etc Delhi Mumbai Chennai Bangalore Hyderabad
- 15. Buyer’s concerns about buying real estate in India © Copyright India Property Online Pvt. Ltd., 2014. All rights reserved15 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% Property Frauds Incomplete papers and details from sellers Tedious Government paper work Too many options to choose from Too expensive properties Post purchase property care Execution delays from developers Poor Infrastructure Delhi Mumbai Chennai Bangalore Hyderabad
- 16. Over 30% buyers in search of property since more than a year © Copyright India Property Online Pvt. Ltd., 2014. All rights reserved16 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% Under 2 months 2-6 months 6-12 months Over a year Delhi Mumbai Chennai Bangalore Hyderabad
- 17. Buyers have mixed reactions over home loan tax exemption © Copyright India Property Online Pvt. Ltd., 2014. All rights reserved17 0% 10% 20% 30% 40% 50% Yes No Not sure Delhi Mumbai Chennai Bangalore Hyderabad
- 18. Buyer’s confidence in Indian realty market increases post change in government © Copyright India Property Online Pvt. Ltd., 2014. All rights reserved18 49% 20% 31% DELHI 41% 19% 40% 41% 14% 45% 50% 12% 38% 53% 10% 37% MUMBAI CHENNAI BANGALORE HYDERABAD Increased Confidence Decreased Confidence Doesn’t concern me
- 19. Buyers feel that NaMo Govt. is working towards promised goals © Copyright India Property Online Pvt. Ltd., 2014. All rights reserved19 0% 10% 20% 30% 40% 50% Yes No Can't say Delhi Mumbai Chennai Bangalore Hyderabad
- 20. The way forward – Changes buyers are looking for © Copyright India Property Online Pvt. Ltd., 2014. All rights reserved20 0% 10% 20% 30% 40% 50% 60% 70% 80% Digitization of government records Lower interest rates on home loans Easing of buying and selling procedures Creating a regulatory body Strict actions on property frauds Delhi Mumbai Chennai Bangalore Hyderabad
- 21. © Copyright India Property Online Pvt. Ltd., 2014. All rights reserved21 THANK YOU!