First-time buyers, many of them on rent, drive home sales in NCR market

Mumbai residents search for larger units; end-users corner 90 per cent of overall homes sales

As the Covid-19 pandemic continues to keep people confined at home, a large section of residents in the national capital region who were staying on rent, are now looking to own properties. A recent report from real estate analyst firm Anarock shows, since the lockdowns forced people to work from home, first time homebuyers have flocked the market.

In the nine months between last July and March-end this year, a staggering 85 per cent of homebuyers in the NCR market were first-time buyers. The trend in NCR, where rents are lower than the largest market Mumbai, is particularly skewed towards