New Home Sales in Delhi NCR, MMR Mostly To End-Users: Experts
Nearly 90 per cent of housing sales in Delhi NCR region and Mumbai Metropolitan Region (MMR) during July 2020 to March 2021 were to end-users and the rest to investors, a new report by Anarock says.The Delhi NCR region witnessed 21,750 units being sold in the period while the MMR saw sales totalling 47,140 units.
Bottomed-out prices, stamp duty cut and low interest rates also encouraged size upgrades (from 1BHKs to 2BHKs/3BHKs) in MMR. The report said all-time best affordability drew more first-time homebuyers in the NCR.
"While the pandemic also saw investors preferring real estate over paper-based volatile asset classes, the actual home buying during the last year has largely been driven by end-users," he said. Aditya Kushwaha, CEO and Director of Axis Ecorp, said many consumers are investing in a second home.
