Apartment complexes under construction in Kolkata. (Wikimedia Commons) A new global survey by Ipsos titled, Real Estate Affordability on Thursday (7 November) revealed that at least 73 per cent of urban Indians can afford to buy a new home in the local property market or real estate sector.
"We see a boom in the realty sector in terms of premium to affordable housing projects that have come up and are in the pipeline, wooing urban dwellers with frills. Further, low interest finance schemes provide easy repayment options and is also likely to provide an impetus to this sector," Ashwini Sirsikar, Country Service Line Leader,(Qualitative Research), Ipsos UU India said in a statement.
The survey also shows that the top markets which have affordable homes in good supply for buyers are China (74 per cent), India is second in the pecking order (73 per cent), Saudi Arabia (61 per cent), US (55 per cent) and Peru (55 per cent).
Markets with lack of affordable homes (or least affordable homes) and which are at the bottom of the heap, include Hungary (16 per cent), Japan (17 per cent), Serbia (19 per cent), Poland (25 per cent) and Argentina (32 per cent), among others.
(This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.)
An Appeal...
Dear Reader,
As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.
Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.
We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.
Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.