Maharashtra: 56% respondents expect housing prices to rise in 2022, shows CII-ANAROCK Survey

Sanjay JogUpdated: Thursday, February 17, 2022, 11:10 PM IST
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CII-ANAROCK Consumer Survey H2 2021 said 56% respondents expect housing prices to rise in 2022 due to inflationary trends in construction raw materials and overall operational costs for developers. According to the survey, an under10% increase would have a moderate-to-low impact. However, an increase of over 10% would have more profound repercussions on buyer sentiment

Newly launched properties are gaining traction in MMR & Bengaluru with over 31% respondent buyers favouring this category possibly indicating a return of investors in these markets. Another major factor influencing this change is thatpost-Covid-19, the new housing supply is dominated by branded developers, which homebuyers perceive as safe.

Though ready-to-move-in (RTM) homes are still the most preferred category for 32% of respondents, this denotes a 14% reduction for this preference since the first Covid-19 wave.

Residential plots are the 2nd best property type in the top 7 cities, most preferred option in tier 2 & 3 cities

Further, demand for extra 1/2 BHK increases post-pandemic while 28% respondents prefer this option amid work from home (WFH) & e-schooling compulsions and 43% of respondents will buy homes in city peripheries. On the other hand, 63% prefer mid & premium segment options priced Rs 45 lakh – Rs1.5 crore.

The survey, conducted between July 1 and December 2021, polled 5,210 participants via various digital platforms across tier 1, 2 and 3 cities.

However, the demand for affordable housing has dropped further-from 40% votes in the survey's H2 2020 edition to 27% in H1 2021 and25% in H2 2021.

ANAROCK Group Chairman Anuj Puri says, “Votes favouring real estate as an asset class rose by 3% in this survey–from 54% in the H1 2021edition to 57% in H22021. This is especially significant since housing prices are likely to rise by 5-8% in 2022 due to increased input cost pressure and supply chain issues. Hardening interest rates, which are very likely in the second half of 2022, will be another factor driving up the overall acquisition cost for homebuyers. 56% of respondent homebuyers are aware of this.’’

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