57 Percent Indians Think it is a Good Time to Buy Property: Ipsos Study

MUMBAI: A new poll by global research company Ipsos finds that almost six in ten (57 percent) Indians think the next 30 days will be a good time to buy real estate, such as a house, vacation property or investment property.

“With the formation of a new stable government at the center, the consumer sentiment which was low in the last 2 years has improved significantly. The stock market has already reacted in a positive manner reflecting this change, the real estate price are expected to go northwards by the end of the year,” said Bhasker Canagaradjou, Associate Director, Ipsos Business Consulting.

“The realtors reeling under large scale of debt are offering discounts to reduce their inventory levels taking advantage of the new found optimism in the market.  The residential real estate market may see an uptick in the demand and increase in the number of transactions in the near future,” added Canagaradjou.

Both people with high levels of household income (58 percent) and education (58 percent) are more likely to say it will be a good time to buy property in the next 30 days across India. Women (59 percent) are more likely than men (56 percent) to say yes, as are younger respondents (60 percent among those younger than 35) compared with older respondents (40 percent among those aged 50-64).

Majority (65 percent) of people in Russia think next 30 days would be a good time to buy property followed by India (57 percent), Indonesia (55 percent), Ireland (51 percent), Great Britain (47 percent), Mexico (44 percent), Australia (42 percent), and Hungary (42 percent). Those rounding out the middle of the pack are from the United States (41 percent), Germany (40 percent), Canada (39 percent), Italy (38 percent), Argentina (37 percent), South Africa (37 percent), Sweden (37 percent), Poland (35 percent) and Spain (34 percent). Those least likely to say ‘yes’ are from Belgium (33 percent), Saudi Arabia (32 percent), Brazil (30 percent), Turkey (30 percent), Egypt (30 percent), France (29 percent), China (22 percent), South Korea (21 percent) and Japan (12 percent).