Housing Enquiries Rebound to 50%
India's residential real estate segment is witnessing a decisive return of serious enquiries, which are now at 50% of pre-Covid-19 levels in the top cities. Recovery is fastest in Bengaluru, where current enquiries have reached 70% of the January-February period, followed by Gurugram with nearly 65%. Prashant Thakur, Director & Head - Research, ANAROCK Property
India's residential real estate segment is witnessing a decisive return of serious enquiries, which are now at 50% of pre-Covid-19 levels in the top cities. Recovery is fastest in Bengaluru, where current enquiries have reached 70% of the January-February period, followed by Gurugram with nearly 65%. Prashant Thakur, Director & Head - Research, ANAROCK Property Consultants says, “Despite site visits far from the previous levels, the site-visit-to-closure conversion rate has increased shoppers fairly dormant currently. Hyderabad now sees an average of 15% site visits converting to sales, against 8% in the pre-Covid-19 period. Gurgaon, with just 4-5% conversions earlier, is now clocking in at 8-10%. Other cities report similar trends.”
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