73% urban Indians can afford a new home: Survey

New Delhi, Nov 7

A new global survey by Ipsos titled, Real Estate Affordability on Thursday revealed that at least 73 per cent of urban Indians can afford to buy a new home in the local property market or real estate sector.

“We see a boom in the realty sector in terms of premium to affordable housing projects that have come up and are in the pipeline, wooing urban dwellers with frills. Further, low interest finance schemes provide easy repayment options and is also likely to provide an impetus to this sector,” Ashwini Sirsikar, Country Service Line Leader,(Qualitative Research), Ipsos UU India said in a statement.

The survey also shows that the top markets which have affordable homes in good supply for buyers are China (74 per cent), India is second in the pecking order (73 per cent), Saudi Arabia (61 per cent), US (55 per cent) and Peru (55 per cent).

Markets with lack of affordable homes (or least affordable homes) and which are at the bottom of the heap, include Hungary (16 per cent), Japan (17 per cent), Serbia (19 per cent), Poland (25 per cent) and Argentina (32 per cent), among others.

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