The real estate consumer remains positive with regard the economic scenario and income stability for the coming six months; according to 'Concerned yet positive - The Indian Real Estate Consumer (April - May 2020)' a report jointly released by Housing.com and National Real Estate Development Council (NAREDCO). Real estate (35%) is still perceived as the preferred mode of investment, followed by gold (28%); Fixed Deposits (22%), Stocks (16%); and homebuyers are likely to slowly return to the market in the coming six months.
Price-points of residential realty have remained muted for the past few years, but are still a key deterrent, with the perception of being still unaffordable. This was the response from nearly half of the potential homebuyers surveyed, who are currently staying in rented accommodation.
Going forward, NAREDCO believes, real estate will be 'positive' for both end-users and investors in the post-COVID-19 world. Those living in rental homes have realized the importance of being in their own homes while NRIs facing challenging times in their present domiciles are looking at creating a safe haven 'back home' in India. Demand for additional space for home offices is on the rise, with need for more efficient layouts. The importance of common amenities, business centers and more open spaces will be an inherent part of the new demand criteria in the post COVID-19 world.