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Demand for bigger homes on the rise

Demand for bigger homes on the rise
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According to a recent study by Housing.com and makaan.com Hyderabad is making the most of its affordability advantage and registered the highest demand for bigger homes. The average unit size demanded in the city is 1,757 sq ft up from 1,710 sq ft (up by 2.7%).  

Hyderabad: According to a recent study by Housing.com and makaan.com Hyderabad is making the most of its affordability advantage and registered the highest demand for bigger homes. The average unit size demanded in the city is 1,757 sq ft up from 1,710 sq ft (up by 2.7%). The study revealed interesting facts, most prospective homebuyers looking at homes that are 1,300 sq ft, up by 4% in Jan - Mar 2018 in comparison to Jan - Mar 2017.

Commenting on the changing trends, Ravi Bhushan, group chief product and technology officer, housing.com said, “Bigger homes combined with affordability is a growing trend witnessed by the Indian real estate sector. The large scale of urbanisation combined with the rise of salaried and educated homebuyers has led a surge in demand for bigger homes in cities like Hyderabad, Pune and Chennai.

Hyderabad is going beyond the ask of the average homebuyer and what one sees in the market is much bigger sized homes at 1,921 sq ft. The good news is that compared to 2017, where supply was on the bigger side at 1,960 sq ft, one can see a rationalisation.

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