Rising Affordability and Growing Security Drive 65% of Indians to Consider Homeownership in 2024

Rising Affordability and Growing Security Drive 65% of Indians to Consider Homeownership in 2024

The Annual Report 2023 from a Real Estate company unveils a significant trend as 65% of Indians are considering homeownership in 2024. This surge is attributed to the diminishing gap between rents and equated monthly installments (EMIs), signaling a pivotal shift in housing preferences. A closer look reveals that 41% of respondents find it financially prudent to buy rather than rent, with the steepest rise in rent observed in Bengaluru at 24%, followed by Chennai (18%) and Hyderabad (16%).

Factors Fueling the Decision to Buy Homes

Surveying 32,000 individuals, the report highlights the primary motivators for choosing homeownership. Beyond financial considerations, 27% express a desire to own a home simply because they can afford it, while 23% prioritize the security associated with owning a tangible asset. Interestingly, 9% view marriage as a catalyst for Investing in real estate, underscoring the multi-faceted nature of homeownership decisions.

Real Estate Resilience: Preferred Investment Choice in India

Investment Choice in India

Delving into investment preferences, the report underscores real estate’s enduring appeal, with 74% of respondents favoring it over other options. This marks an increase from 71% in 2022. Gold garners 13% support, while stocks and systematic investment plans (SIPs) secure 12%. Surprisingly, only 1% of respondents express a preference for Bitcoin. In addition, The report attributes real estate’s popularity to its consistent growth, providing a secure Investment option with appreciating value over time, robust returns, and tax-saving advantages.

For those actively seeking strategic property investments, Let’sDigg emerges as a valuable ally in navigating the dynamic real estate landscape. LetsDigg specializes in providing comprehensive insights and data-driven analyses, empowering investors with the knowledge needed to make informed decisions. Whether you’re eyeing residential properties in Noida or considering commercial spaces near Noida Airport, Let’sDigg offers a user-friendly platform to explore diverse investment opportunities. With a commitment to transparency and accuracy, Let’sDigg stands as a trusted resource for individuals looking to optimize their property investments in alignment with the evolving trends highlighted in the NoBroker Annual Report. Explore the potential with Let’sDigg and embark on a journey towards successful and lucrative property ventures.

In conclusion, NoBroker’s Annual Report provides an insightful panorama of the evolving dynamics in the Indian real estate landscape, shedding light on the factors steering a majority towards homeownership in 2024.

Commercial Property in Noida

Residential Property in Noida

Commercial Property Near Noida Airport

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