An overwhelming majority of home buyers from India (77 percent) rank proximity to large green spaces as an important location feature post-Covid-19 pandemic, according to Knight Frank’s Global Buyer Survey — The Asia Pacific Supplement released on Thursday.
At the same time, access to good healthcare was preferred by 64 percent of respondents and proximity to the workspace by 56 percent.
The survey represents views of over 900 Knight Frank clients across 49 markets. With over 50 percent of respondents located in the Asia Pacific, the report delves into data in aggregate and contrasts buying patterns among homebuyers from Asia, Australasia, and around the globe.
Asia Pacific homebuyers now rank good air quality (70 per cent), proximity to green spaces (69 per cent) and access to good healthcare (64 per cent) as top three location features.
Out of the Asia Pacific respondents who are more inclined to move in the next 12 months, an average of 40 percent preferred cities and 32 percent preferred suburbs. From the Indian context, 55 percent preferred the city whereas 36 percent showcased preference for suburbs.
Only 19 percent of Asia Pacific respondents have moved since the onset of the pandemic, and of those who have not yet moved, only 15 percent are inclined to do in the next 12 months.
About 14 per cent of Indian respondents cited more inclination towards moving house within the next 12 months as a result of the pandemic.
Among those who recently moved, 22 percent and 20 percent of Asia Pacific respondents stated more indoor and outdoor space were the primary reasons for their shift respectively.
Indian respondents (50 percent) however cited being near to family as the primary reason for their shift.
About 44 percent of Asia Pacific respondents said they are willing to pay a premium for branded residences, the highest of any region in the world.
Around similar percentage of Indian respondents echoed the willingness to pay a premium to purchase a property in a branded residence development.
The survey said homebuying across the Asia Pacific may continue to be slow in the coming months while families take time to recuperate their budgets and wait for property values to plateau. (ANI)
