In the total housing sales in the primary market, the share of ready-to-move-in (RTMI) homes rose to 21 percent in 2020, from 18 percent in the previous year. According to a report by PropTiger.com, homebuyers preferred completed apartments to avoid the risks attached to under-construction properties. In the ‘Real Insight Residential-Annual round-up-2020’, PropTiger said that a total of 1,82,640 units were sold in 2020, of which 21 percent were in the RTMI category and 79 percent were under-construction. The survey was undertaken by PropTiger Research. Views of more than three thousand potential homebuyers were taken during each period.
In 2019, a total of 3,47,590 units were sold of which 18 percent were RTMI. PropTiger research found that the share of RTMI in the total sales has been on the rise since 2016. The share of RTMI in the total sales during 2015 was 7 percent, which increased to 10 percent in 2016, 12 percent in 2017, 15 percent in 2018 and 18 percent in 2019. The share of RTMI units in the total sales was the highest in Chennai at 32 percent and lowest in Hyderabad at 12 per cent, during 2020.
The December 2020 PropTiger Research survey points out that real estate continues to remain the preferred investment asset class, as 43 percent of the respondents favoured real estate while fixed deposits and stock market investments were a choice of 21 percent and 20 percent respondents respectively. The December survey also revealed that 47 percent of the participants preferred larger homes. In the May 2020 survey, only 33 percent had this preference.
