SURVEY: Expecting a drop in property prices, survey reveals people are interested in buying real estate By Vishal Krishna|11th Jun 2020 The latest consumer sentiment survey by NoBroker.com indicates that 65 percent of consumers think that it is the best time to buy a property 128 CLAPS +0 +0 According to a recent survey conducted by NoBroker.com, 65 percent of consumers believe that it is the best time to buy a home as property prices have remained constant for a few years, home loan interest rates are low, and many builders are offering great discounts. With most professionals working from home due to the coronavirus-induced lockdown and having greater time at their disposal, they have the much-needed time to do the preliminary research. Although the outlook for real estate looks less promising due to the current pandemic, about 54 percent of consumers are expecting a significant drop in the prices of residential properties as the market currently has a lot of unsold inventory.
Consumers are of the view that developers would want to get rid of piled-up inventory to boost their cash flows. ALSO READ How Flipkart kept its users engaged during lockdown with effective collaboration According to NoBroker.com, the purpose of the survey was to check the impact of COVID-19 on consumer sentiment.
The survey was conducted among potential buyers (who are currently searching for properties on NoBroker’s database) and tenants to understand how their priorities have shifted. Around 11,580 people responded to the survey. It was conducted across Bengaluru, Mumbai, Pune, Hyderabad, Chennai, and Delhi NCR.