Homebuyer Concerns Surge Amid Soaring Property Prices

A survey by Anarock reveals that more than 90% of prospective homebuyers are worried about rising property prices. From 8,250 participants, 47% expressed being 'very concerned,' with average prices rising over 50% in two years. Affordability and limited options are key issues impacting buying decisions.

A recent survey by realty consultant Anarock has uncovered a growing concern among prospective homebuyers regarding the surge in residential property prices. Of the 8,250 participants, over 90% expressed varying levels of concern, from slight to extreme.

The Anarock survey indicated that 47% of future homebuyers are 'very concerned,' while 41% cite affordability as a key hurdle. Average residential costs have skyrocketed by over 50% in the last two years, moving from Rs 6,001 per sq ft to Rs 8,990 per sq ft.

This price escalation has prompted delayed purchasing plans for 71% of participants, with factors like affordability and fewer budget-friendly buying options exacerbating the issue. Only 21% of prospective buyers are sticking to their original plans to purchase a home.

(With inputs from agencies.)