Despite the difficulties posed by high inflation, escalating property costs, and interest rate hikes in the past year, 67 per cent of participants prefer buying property for their use, indicating a strong demand from end-users.
In the ever-evolving investment landscape, real estate has become the preferred choice for investors while gold, once a haven, is losing its luster. A recent Anarock Consumer Sentiment survey revealed that in the first half of 2023, over 60 per cent respondents expressed an inclination to invest in real estate, which is a 3 per cent increase compared to the previous survey. It indicates that investors are seeking tangible and long-term assets due to growing financial market uncertainty.
The persistent rise in inflation rates has a significant impact on people’s financial stability. According to the survey, 66 per cent respondents in the first half of 2023 experienced a reduction in their disposable income, which is an increase from the 61 per cent recorded in the same period in 2022. Despite the difficulties posed by high inflation, escalating property costs, and interest rate hikes in the past year, 67 per cent of participants prefer buying property for their use, indicating a strong demand from end-users. However, the survey also highlights that increasing inflation may limit people’s ability to make home-buying decisions.
Commenting on the same, S K Narvar, Group Chairman, Trident Realty, says “The housing market is upbeat backed by positive sentiments and an increased sense of pride in home ownership. The market survey highlights that real estate is the most preferred investment asset class amongst people. The desire for luxurious living, work-life balance, well-being, and future stability have prompted buyers to invest in real estate. Besides, steady home loan rates coupled with healthy economic growth, and other favorable factors are fueling housing growth across cities.”
References : Financial Express