Festive Season Sees Surge in Online Property Search Activity
Online property search activity rises by 10% in August, with 2BHK units being the most searched across India, according to a report by Housing.com.
Real EstateOnline Property SearchFestive SeasonHousingcomProperty MarketReal Estate NewsSep 25, 2024
The Indian Residential Index for Online Search (IRIS) report by Housing.com states that this surge in interest does not come as a surprise to industry experts, with the festive season traditionally driving up real estate transactions in India.
Key trends from the report reveal that 2BHK units remain the most searched properties across India. In terms of location, Delhi-NCR is leading, with demand focused on 3BHKs, while Mumbai sees the most interest in 1BHKs within the ₹50 lakh to ₹1 crore range.
The report also highlights a shift in buyer preferences, with 50% of searches focused on ready-to-move-in properties. Among Tier-2 cities, Indore saw the largest jump in search activity, followed by Jaipur, Lucknow, and Vadodara.
For metros, the top five most searched cities were Delhi NCR, Mumbai, Bengaluru, Kolkata, and Ahmedabad. The top five most searched localities were Noida Extension, Andheri West in Mumbai, Mira Road East in Mumbai, Whitefield in Bengaluru, and New Town in Kolkata.
As the festive season approaches, Housing.com expects even more activity with developers offering exciting deals. Amit Masaldan, Chief Revenue Officer of Housing.com.
Frequently Asked Questions
What is the current trend in online property search activity?
According to the IRIS report, online property search activity has surged by 10% in August, marking the highest increase since December 2023.
What type of properties are most searched for in India?
2BHK units are the most searched properties across India, followed by 3BHKs in Delhi-NCR and 1BHKs in Mumbai.
Which cities are most searched for properties?
The top five most searched cities are Delhi NCR, Mumbai, Bengaluru, Kolkata, and Ahmedabad.
What is the shift in buyer preferences?
There is a shift in buyer preferences, with 50% of searches focused on ready-to-move-in properties.
What can buyers expect during the festive season?
Buyers can expect more activity with developers offering exciting deals during the festive season, starting with Navratri until December end.
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