Highest Demand for Affordable Housing: Report
Recently, a survey was conducted in over nine cities, covering 1,400 respondents. As reported by Mint, two things stood out prominently in the survey. One was that people were extremely eager to see the kind of changes the new government will introduce and how it will impact real estate. And the second point was that the affordable housing segment has the highest demand among all housing segments.
60 percent of the respondents said they were planning to buy a property in the affordable housing segment, which essentially consists of residential units not costing more than Rs 40 lakh. This is an important fact for builders as they can hereafter focus more on developing affordable properties rather than concentrating on luxury or premium housing segments.
The survey also revealed that many respondents, 68 percent in total, were hopeful of a cut in home loan interest rates. 80 percent of the respondents said they were expecting the new government to positively influence the real estate sector.
Source: Mint
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