Home Buyers see opportunity in slow markets

About 86.9 per cent potential real estate buyers see a slow market as an opportunity to buy their dream home at discounted prices. Just 13 per cent of the respondents feel otherwise. These were the results of an online survey conducted by Brix Research, the Knowledge Centre of MagicBricks.com – India’s no.1 property portal, promoted by the Times Business Solutions Limited.

Conducted to assess the impact of lowering home loan interest rates on affordable housing, respondents from metros such as Bangalore, Kolkata, Delhi NCR, Mumbai, Hyderabad and Chennai as well as smaller cities such as Kanpur, Ahmedabad, Nagpur, Mysore, Jamnagar and Haridwar participated. Some responses also came from overseas Indians in Oman and the US.

Explains Mr. Naveen Luthra, Vice-President and Business Head, MagicBricks.com, “As the leading property portal of India, we endeavor to offer value to our users and clients. Our BrixResearch surveys are aimed at drawing out recent trends in the real estate market so that our users can be served with latest updated information to aid their decision making process.”

Respondents welcomed measures such as differential home loan interest rates for budget homes. The survey by Brix Research revealed that market revival measures such as a cut in home loan interest rates does prompt users to consider buying property.
The participants of this survey belonged to varied social and economic backgrounds. About 40 per cent of respondents were in the age group of 20-30 years while another 38.2 per cent belonged to the 30-40 age groups. Of the respondents, about 57 per cent said that they had purchased property or owned property. The remaining 43 per cent did not own any property.

Commenting on the trend, Ms. E. Jayashree Kurup, Head - Content & Research, MagicBricks.com said, “With the government lowering interest rates and the private sector building affordable apartments, buyers from all social strata and age groups have become active.”

About 52.2 per cent respondents said they could spend between Rs 10-30 lakh to purchase a house. Another 30.5 per cent said that they could spend anything between Rs 30-60 lakh for this purpose. Just 2.7 per cent said that their estimated budget was above Rs 1 crore.

A detailed report of this survey is available on request. Mail your requests to info@brixresearch.com

About Brix Research:

Brix Research is the knowledge and research wing of MagicBricks.com, India’s No 1 property portal owned by Times Business Solutions Limited.

It conducts regular research on real estate values, occupancy, stock and trends. This is analysed into structured research reports, customised content and reports for industry and government bodies.

Brix Research offers the following services:

1. Content & Editorial: It generates structured content related to real estate and city management for newspapers, magazines and the interactive media.

2. Market Reports: Detailed well-analysed market reports to service the industry and government.

3. Customised Reports: Structured data collected on prescribed formats and structured into specialised market reports.

4. Knowledge Events: Creating spaces for the industry to interface with users and policy makers.

Brix Research generates data that can service the requirements of administrators, researchers, architects, engineers, planners, and most importantly the common man.

Real estate market research provided by Brix Research covers the pan-India region.

For more information contact us at info@brixresearch.com or contact Renu Arya, Research Coordinator at 9717095249.

info@brixresearch.com
Renu Arya
Research Coordinator
Brix REsearch
B- 1- C, Sector 10 , Noida
9717095249.

This release was published on openPR.