All the major real estate markets in India have witnessed the rise in demand for high quality homes from reputed developers over the last few years. Thanks to advanced analytics, it is now possible to evaluate trends and determine the most interesting facts and figures. One of these trends reveals the high demand for 2 BHK homes in all the real estate markets in India. In fact, the 2 BHK homes have dominated the Indian real estate sector in recent years.
As per a recent report, a significant number of homeowners all over the country are looking for 2 BHK apartments. In terms of demand, the next in line are 3 BHK homes. The developers are closely observing these trends and accordingly they are shaping their strategies when it comes to new launches and marketing. Different factors contribute to the demand for 2 BHK homes in India. Starting from the affordability of these average-sized homes to the suitability for the families, different factors have made 2BHK homes popular in India.
The demand for houses in India is largely being driven by service-class buyers. The major cities in India, including Pune, Kolkata, Chennai, Hyderabad, Bengaluru, Delhi NCR, and Mumbai, have witnessed the high demand for these homes. At 68%, the housing demand in these cities looks phenomenal for the service-class buyers. Next come the business-class buyers, where the figure stands at 18%. Professionals account for 8% of the buyers of real estate.
Also, the report reveals that most buyers prefer homes in the middle to higher range. This accounts for as much as 79% of the overall demand for 2 BHK homes in India. In this regard, you must note that the price range of these properties lies between INR 40 lakhs to INR 1.50 crore.
Experts reveal that after the pandemic and the reforms, the real estate industry seems attractive to buyers. Besides, property prices have fluctuated within a range, which has removed speculations significantly. The report also revealed that as much as 90% of the housing market in India is driven by end-users. This high demand for 2 BHK homes is likely to continue in the coming years as well.
