According to a new research report by RNCOS, “India Affordable Housing Market Analysis”, affordable houses in India is witnessing strong demand and has emerged as one of the markets holding immense growth potential in future. Traditionally, the housing sector was mainly focused on the top-end of the spectrum. However, the economic meltdown of late 2008 changed the scenario which resulted in the demand for low budgeted houses. Rising income level and increasing trend of nuclear families are the major factors driving the demand for affordable houses in the country. As per our analysis, India Affordable Housing Sector is expected to register a significant growth around 40% during 2012-2014.
Research Analysis & Highlights
The report, “India Affordable Housing Market Analysis” by RNCOS, which is spread over in 40 pages, provides detailed analysis and demand forecast of affordable houses in the country, covering the major segments including low-income group and mid-income group. Besides, the report also provides the results of a survey conducted across 900 respondents to facilitate clients in understanding consumer behavior and answering the following significant questions:
- What type of flats customers prefer to purchase, according to income group?
- What is the timeframe in which customers are planning to purchase flats?
- What are the factors influencing choice of residential project?
- The type of amenities for which the customers are willing to pay extra?
- What percentage of the total cost customers prefer to finance?
The report also provides comprehensive study of market drivers and challenges in the affordable housing industry in India. In addition, the report provides profiling of the major companies and the initiatives adopted by the government, real-estate developers and financial Institutions.
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