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Delhi tops as property seekers first choice

Delhi tops as property seekers first choice

Delhi tops as property seekers first choice

Over 34 per cent of the property seekers across the country want to own a house in Delhi-NCR. This has been revealed in a survey conducted by a website Makaan.com on ‘Realty Trends 2010’ in metros and tier II cities.As per the survey findings Delhi/NCR is the most preferred real estate investment destination in 2010, nationally. Mumbai comes as the second choice with 28 per cent buyers willing to buy a house in the city. Bangalore and Hyderabad come next in line with 11 per cent interested buyers each, nationally.

The survey also reveals that the realty sector in 2010 is going to be driven by end user. Due to recession and fluctuating property prices, property seekers were shying away from making a property purchase last year, but with improving economy and slightly stable property prices; seekers are ready to jump into the market this year. It’s interesting to know that most of the buyers, who are interested to buy a house, this year, want it for self-consumption; this confirms the fact that speculators, which drove the real estate boom in 2004-07, are more or less out of the market. And even the ones who are willing to invest at this time are the long-term investors. The survey revealed that around 67 per cent of the national property seekers want to buy a house for self-consumption. Only 23 per cent seekers are looking for property options from a longterm investment perspective. Short-term investors have only 10 per cent takers.

Last Updated: Tue Aug 13 2013

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