NoBroker Annual Report 2023: 65% of Indians Intend to Buy a Home in 2024

By Consultants Review Team Monday, 11 December 2023

According to the annual survey released on Monday by real estate property website NoBroker, as the gap between rents and equated monthly installments (EMIs) continues to close, 65% of Indians are eager to buy a home in 2024. It went on to say that the increased affordability and security of owning a tangible asset are also important factors. Based on a survey of 32,000 Indians, the most important reason for purchasing a home is the rent growth. According to 41% of those polled, it now makes more sense to buy rather than rent a home, according to the report.

According to the data, 56% of polled landlords have raised the rentals on their homes. The majority of these, 35%, have increased their rent by 10-20%. Thirty-three percent increased their rent by 20-30%, while 28 percent increased it by less than 10%. The remaining 4% have increased their rent by 30% or more. Furthermore, residences are easier to rent out today, and 86% of landlords want to buy a second property as an investment. The report also stated that real estate is still the most popular investment option in India. Compared to 71% in 2022, 74% of Indians say real estate is superior to any other form of investment by the end of 2023.

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Thirteen percent say gold is the finest alternative, while twelve percent believe stocks and systematic investment plans (SIPs) are the best options. Another 1% of Indians prefer Bitcoin to anything else.

"It (real estate) has a track record of consistent growth over the last few decades and has repeatedly proven to be the best investment option." It is a safe investment option that increases over time and provides decent returns while also allowing for tax savings," according to the report.


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