The Indian real estate market is experiencing a significant positive shift in homebuyer sentiment and investment trends, as unveiled by the latest FICCI - ANAROCK Homebuyer Sentiment Survey for the second half of 2023. The survey indicates a dynamic sector evolution driven by changing consumer preferences and robust investment confidence. The survey also highlighted a 7 per cent increase in investors considering residential real estate as a viable investment option, with 36 per cent of prospective buyers in the latter half of 2023 viewing properties from an investment lens. This uptick indicates the sector's appeal as a stable and lucrative investment avenue.
Luxury homes are seeing a rise in demand, with 20 per cent of respondents favouring such properties in the latter half of 2023, up from 12 per cent in the latter half of 2021. Meanwhile, the demand for affordable housing has decreased significantly, from 40 per cent in the second half of 2020 to just 21 per cent in H2- 2023, prompting developers to adjust the supply accordingly. Further, the survey reveals a notable preference for larger homes, with 50 per cent of respondents favouring 3BHK configurations. This preference underscores a trend towards more spacious living environments despite the normalisation of life post-pandemic and rising residential prices.
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