- New heights in index scaling show a turnaround in the residential real estate market in the coming months
- Online property search volume in September 2021 exceeded its historic peak in September 2020
- Delhi-NCR breaks through charts
- Maximum search volume was for 2 and 3 BHK configurations
- Surat recorded the highest jump of 6 points and reached 4th place among the top 20 cities.
This was behind the positive outlook for consumers, historically as concerns about the Covid-19 frontline eased. Mortgage low interest rates, Housing.com’s “IRIS Index” reveals a flexible payment plan offered by realtors to attract homebuyers.
IRIS (Indian Home Index for Online Search) is a monthly index that tracks the activity of potential home buyers in the primary and secondary home markets on the Housing.com portal, one of the country’s leading online real estate platforms. It was created to give a closer look at buyer activity in India by tracking the 42 major cities that drive the housing market.
Provides insight into the findings of the IRIS Index. Druff Agarwara, Housing.com, Makaan.com, and PropTiger.com Group CEOs said: -Increased economic activity.
Agarwara said: 19 pandemics in Japan. The index, which peaked in September 2021, shows the upturn in the residential real estate market in the coming months. “
The number of online property searches in September 2021 exceeded the historic peak witnessed in September 2020.
The growth momentum of aspiring homebuyers’ activities has surpassed the 100 mark in a row since the last three months, marking a smart recovery since the second wave. This index is a weighted average of 42 cities limited to buying motivation only and is calculated based on the activity of motivated homebuyers observed on the Housing.com platform.
“The IRIS index closed at a record high in September 2021. India’s online real estate search volume increased by 5 points to 116 points after the second wave of the pandemic, reaching 116 points in 2020. It’s a faster revival compared to the same period, “Housing.com said.
The IRIS index revealed that the maximum search volume was in 2BHK and 3BHK configurations. The majority of homebuyers were looking for a few BHK apartments in the price range below Rs 50. Following that, I was ready to spend 50 to 1 rupee.
Also, as the culture of working from home remains in the post-covid world, the share of buyers looking for 3BHK and 3BHK Plus properties is constantly increasing.
DELHI-NCR TOP SIRIS index.Surat, Patna and Coimbatore are generating winners in the top 20 cities witnessing the highest number of online property searches
Delhi NCR continues to be at the top of the index. The metropolitan area has outpaced ambitious buyers since June 2021. The Delhi NCR has been plagued by various lawsuits, unsold inventory and lack of trust in the past, which has upset the momentum of residential real estate in the region. ..
“Sustainable online real estate search activity at Delhi NCR is a leading indicator of improving consumer sentiment in one of the country’s largest housing markets. Housing.com at Makaan.com and PropTiger.com Ankita Sood, director and head of research, said:
In Gurgaon, online searches have increased in Sector 57 along Golf Course Extension Road and Sector 67 micromarkets along Sona Road, and most potential homebuyers in these micromarkets excel in the 1 Indian Rupee price range. I’m looking for an apartment with good infrastructure and connectivity. -2 rupees.
In Noida, as the IRIS index revealed, most of the searches were concentrated in sectors along the Noida-Greater Noida highway, such as Sector 150 and Sector 137. 1 Chlore INR. The Noida Highway has received a great deal of interest in office leasing due to its connectivity and the currently functioning metro, which is cascaded to housing demand along the highway. Greater Noida has emerged as an option for buying a home, as the area has become an attractive destination for homebuyers due to the extension of the proposed metrorail to Dewar’s next international airport.
Surat recorded the highest jump of 6 points and reached 4th place among the top 20 cities. The largest search query in the city of Gujarat was recorded in the Beth and Dindoli microlocale apartments. The majority of Surat homebuyers are looking for 2BHK apartments in the range of less than 50 rupees.
Patna and Coimbatore have each registered four position improvements at IRIS. In the capital of Bihar, most of the search queries were concentrated in areas such as Danapur and Furuwarisharif.
Most homebuyers in Patna were looking for a residential area, but Coimbatore is most likely to find a 2BHK apartment. In the case of Coimbatore, Saravanampatti and Badabari recorded most of the queries to buy a home.
Most of the searches in both cities are concentrated in price categories below Rs 50.
The formalization of telecommuting in many corporate organizations gives employees the flexibility to move their bases to their hometowns or small cities.
Kolkata recorded the largest decrease in online search volume.
For most homebuyers, the buying process begins with searching for the desired home property online and leads to the purchase in the next few months.
Cities covered by iris
Top 8 cities: Ahmedabad, Bangalore, Chennai, Delhi-NCR, Hyderabad, Kolkata, Mumbai, Pune.
For Delhi NCR Delhi, Faridabad, Gurgaon, Ghaziabad, Greater Noida, Noida. Mumbai includes Greater Mumbai, Thane and Navi Mumbai.
Tier 2 cities: Agra, Amritsar, Aurangabad, Bhopal, Bhubaneswar, Chandigarh, Coimbatore, Cuttack, Dehradun, Goa, Guwahati, Indore, Jaipur, Kanpur, Kochi, Lucknow, Ludhiana, Madurai, Mangalore, Meerut, Mohali, Mysore, Nag , Surat, Trichy, Trivandrum, Vadodara, Varanasi, Vijayawada, and Visakhapatnam.
Online Property Search in September 2021 has exceeded its historic peak: Report
https://realtynxt.com/2021/10/28/online-property-search-in-sept-2021-surpassed-its-historic-peak-report/?utm_source=rss&utm_medium=rss&utm_campaign=online-property-search-in-sept-2021-surpassed-its-historic-peak-report Online Property Search in September 2021 has exceeded its historic peak: Report