Most property buyers seem to think so and are waiting for a price correction before investing in it, according to a recent online survey conducted by Economic times.com. Here are some other findings.
Respondents Profile
Gender
Men Women
92.3% 7.7%
Occupation
Business Retired Salaried
7.3% 1% 91.7%
Do you expect a correction in the property market?
No price will be go up 19.2%
No price will remain stable 23.9%
Yes at least 10% 25.3%
Yes more than 10% 31.6%
How would you rate the property market in your city?
Affordable 4.4%
Slightly overpriced 28.4%
Massively overpriced 67.2%
Are you planning to buy a house in the next one year?
Yes 72.9%
No 27.1%
In which area your city can you offered a project now?
Within city limit 25.7%
Distant suburbs 23.1%
Suburbs 51.2%
How much premium are you willing to pay for a ready-to-move-in property?
1-2% of the property cost 20%
2-5% of the property cost 15.9%
5-10% of the property cost 9.5%
More than 10% of the property cost 3%
Nothing I can wait 51.6%
What would be your top priority while choosing a house?
Away from city congestion 16.25%
Proximity to children’s school 28.9%
Proximity to friends or relatives 11.4%
Proximity to my workplace 43.5%
What would you prefer among these options?
A bigger house in a suburbs 56.6%
A smaller house within city limits 43.4%
Online survey conducted by Economic times?
The percentage of people within an annual income of less then 5 lakhs, Which prefers to have a small house in the city limits compared with the
bigger house in suburbs. 60.3%
Most salaried people expectedly prefer a house close to their workplaces, fallowed by 30.2%, which prefers proximity to their children school. 44.4%
Is staying on rent a good idea in this market?
No, it is always good to buy Instead of renting 20%
No, rents are going up too 16.7%
Only if you can’t afford to buy now 25.6%
Yes, and wait till a price correction 37.7%