Indian homebuyers rank green spaces as key feature

Mumbai (Maharashtra) [India], September 23 (ANI): An overwhelming majority of home buyers from India (77 per cent) rank proximity to large green spaces as an important location feature post Covid-19 pandemic, according to Knight Frank's Global Buyer Survey -- The Asia Pacific Supplement released on Thursday.

At the same time, access to good healthcare was preferred by 64 per cent respondents and proximity to workspace by 56 per cent.

The survey represents views of over 900 Knight Frank clients across 49 markets. With over 50 per cent of respondents located in Asia Pacific, the report delves into data in aggregate and contrasts buying patterns among homebuyers from Asia, Australasia and around the globe.

Asia Pacific homebuyers now rank good air quality (70 per cent), proximity to green spaces (69 per cent) and access to good healthcare (64 per cent) as top three location features.

Out of the Asia Pacific respondents who are more inclined to move in the next 12 months, an average of 40 per cent preferred city and 32 per cent preferred suburbs. From India context, 55 per cent preferred city whereas 36 per cent showcased preference for suburbs.

Only 19 per cent of Asia Pacific respondents have moved since the onset of the pandemic, and of those who have not yet moved, only 15 per cent are inclined to do in the next 12 months.

About 14 per cent of Indian respondents cited more inclination towards moving house within the next 12 months as a result of the pandemic.

Among those who recently moved, 22 per cent and 20 per cent of Asia Pacific respondents stated more indoor and outdoor space were the primary reasons of their shift respectively.

Indian respondents (50 per cent) however cited being near to family as the primary reason for their shift.

About 44 per cent of Asia Pacific respondents said they are willing to pay a premium for branded residences, highest of any region in the world.

Around similar percentage of Indian respondents echoed the willingness to pay a premium to purchase a property in a branded residence development.

The survey said homebuying across Asia Pacific may continue to be slow in the coming months while families take time to recuperate their budgets and wait for property values to plateau. (ANI)