65% Home Buyers Back In the Market

Two out of every third home buyer is now back in the real estate market, reveals consumer sentiment surveys. Out of them, 33% think that it is a good time to buy a new house while 32% others are in the finalization stage. According to the report, 11% have completely dropped the idea of buying a property due to job and market uncertainty.On the tenants side, 38% of tenants are looking out for a new house for larger spaces. While looking for a new rental place, the need for safety and hygiene has taken a leap due to the spreading virus. 78% of the tenants said that they will add legal safeguards in the rental agreement regarding future uncertainties and further, 76% agreed that COVID-19 free property is an extremely important factor for them. 77% of the home buyers agreed that they are looking for a house for end-use whereas only 23% are willing to purchase for investment purposes. Further, ready to move property continues to be favourite as 64% of the homebuyers preferring ready to move house. While the preference has shifted towards digital means to buy or rent homes, the need for physical visits still persists but only for finalizing the deal, confirms 55% of the homebuyers and 60% of the tenants.