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Leaving behind SIP, gold, and Bitcoin, Indians continue to prefer THIS investment option
Indians continue to prefer real estate as the major investment option against SIP, stock market, and even gold, revealed a recent survey conducted by NoBroker.com. It also highlighted the growing demand in the sector in 2023
Reflecting on growing optimism around the real estate sector, India recorded the highest-ever growth in new project launches over a decade in 2023. The rising number of project launches is also a direct response to the burgeoning demand for residential spaces and the rapid absorption by buyers, according to an annual report presented by the online real-estate platform, NoBroker.com.
Also Read: Real estate trends: Will the sector witness a rise in women homebuyers in 2024? Experts decode
The annual report also gave a hint about the prospective winner of the ‘Buy vs Rent’ debate. Another report finding suggested that more people are buying home not just to save their rental costs, but also for investment purposes. Around 74% of respondents of the NoBroker.com survey find real estate as a better source of investment compared to gold, SIP/stocks, or Bitcoin. Here are the key findings from the report:
Buy vs Rent
The report highlighted the rising concern among people. Due to the high rental costs of properties, more people are looking to buy their own house.
“Renters who feel squeezed in the current market where rents have increased by up to 30%. They have confidence in their future and are therefore ready to take the plunge of buying a home,” said the report. Rental costs and surpassing home loan EMIs have been pivotal factors in convincing tenants to invest in their own homes.
Real estate continues to be a major investment option
The report also threw light upon the continued reliability of the real estate sector for investment among Indians. In the survey, it was found that 74% of respondents found real estate as a better option to invest in compared to other options like gold, bitcoin, etc. 13% of respondents found gold as a preferred option, whereas 12% found SIP and stock market investments as a better option. Only 1% of respondents found Bitcoin as a preferred way of investment.
Most preferred destinations for NRI home buyers
Underlining a significant rise among non-resident Indians (NRIs) in India's real estate sector, the survey found that more NRIs are interested in buying homes in metro cities. Out of them, Bangalore and Mumbai continue to be the most preferred destinations for NRI buyers. Most of the NRI buyers have kept their budget above ₹1 crore for buying property.
Significance of Vaastu for Indian home buyers
The survey revealed that around 79% of respondents have said that they check the Vaastu of a house before buying, and 39% check before choosing to live in a house on rent.
The survey was based on the responses from 32,000 customers who participated from cities like Bangalore, Mumbai, Pune, Chennai, Hyderabad, Delhi-NCR, and overseas.
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Business NewsIndustryLeaving behind SIP, gold, and Bitcoin, Indians continue to prefer THIS investment option
First Published:11 Dec 2023, 02:37 PM IST
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