STOCK MARKET BSE NSE

Price, safety, quality key concerns for home buyers

Nearly 52 per cent home buyers highlighted parking space as a major problem in terms of their requirements in current residences.

Published: 30th July 2019 08:24 AM  |   Last Updated: 30th July 2019 08:24 AM   |  A+A-

Apartment

For representational purposes. (File Photo | EPS)

By Express News Service

While selecting an affordable housing property, buyers look for key factors such as  price, construction quality, timely delivery, reliability, trustworthiness, brand awareness and visibility as well as the past track record of the company, said a survey report.

ALSO READ| Housing sales up 6 per cent, new supply falls 11 per cent during April-June in 9 top cities

According to the report by International Property Consultant Knight Frank in association with Royal Institute of Chartered Surveyors (RICS), about 80 per cent home buyers put cost as the topmost consideration while buying a house followed by safety and security for 71 per cent home buyers. 

Nearly 52 per cent home buyers highlighted parking space as a major problem in terms of their requirements in current residences. People feel that there is a need for parking facility for at least one car and open space area is required which will lead to a sense of comfort at house.

ALSO READ| Model tenancy law may prompt builders to construct about 50 per cent of homes for rent purpose

This was followed by adequate security, playground and availability of public transport which accounted for 43 per cent each. Home buyers and intenders are also categorical that cost-related transparency like actual cost, maintenance charges should be mentioned right in the beginning to avoid complications later on, the report  pointed out.

About 53 per cent home buyers said self-use is the main purchase driver. However, 48 per cent highlighted better location and 44 per cent cited expanding family size as other vital drivers for the decision to buy houses.“Stakeholders in the real estate sector need to first understand their consumers before converting their ideas into reality...” said Shishir Baijal, chairman, MD, Knight Frank India.

Stay up to date on all the latest Business news with The New Indian Express App. Download now

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp