User Behaviour Unlocking

Demand

Trends

Property buying trends were expected to undergo certain subtle yet key changes in the

post COVID era. The second edition of the ‘User Behaviour Trends’ report manages to

capture these changes in the consumer demand patterns.

As compared to the previous quarter, the Jul-Sep 2020 period reflected clearer trends and

preferences in terms of budget categories, stages of construction and top locations

searched.

For instance, a growing preference for relatively larger homes within a ready project priced

upto Rs 60 Lakhs was the key trend in this quarter. The analysis is done under five parame-

ters: most searched BHK, most searched unit type, most searched budget category, most

searched cities, and searches by project status.

Jul-Sep 2020

Jul-Sep 2020

1 Most SearchedBHK

19%

36%

33%

9%

3%

1BHK

2BHK

3BHK

4BHK

5BHK

15%

35%

38%

9%

3%

As compared to the previous quarter, there was a clear shift in

demand towards larger homes during the third quarter of 2020.

While demand for 1 and 2BHK units dropped by 4% and 1%

respectively, online searches for 3BHK inched up by 5% in Q3, 2020.

Search trends for larger formats (4 and 5BHK) remained unchanged

in the Jul-Sep 2020 quarter as compared to the last quarter.

■

■

■

38% property seekers searched for a 3BHK unit during the Jul-Sep 2020 quarter

Apr-Jun 2020

Jul-Sep 2020

2 Most Searched Budget Categories

47%

35%

13%

Rs 60-100 Lakhs

5%Rs 0-30 Lakhs

Above Rs 1 Crore

Rs 30-60 Lakhs

49%

33%

10%

Rs 60-100 Lakhs

8%Rs 0-30 Lakhs

Above Rs 1 Crore

Rs 30-60 Lakhs

Jul-Sep 2020

As was visible in the Apr-June 2020 quarter, home buyers

continued to search for affordable properties.

However, a marginal increase in demand was witnessed for the Rs

30-60 Lakhs and Rs 60-100 Lakhs categories.

Properties priced above Rs 1 Crore continued to be less in demand

with online searches dropping by 3% in the last three months.

■

■

■

47% users looked for properties priced upto Rs 30 Lakhs in Q3, 2020

Apr-Jun 2020

Jul-Sep 2020

3 Project Completion Status

16% 14%9%

1%2%

34%

24%

16%16% 8%

1%3%

38%

18%

Jul-Sep 2020

As recorded in Q2, affinity to ready units and projects in the

advanced stages of construction was visible in the Jul-Sep 2020

quarter as well.

However, more buyers seem to be shifting towards ready projects as

compared to those in advanced stages.

The latter recorded a fall of 6% in searches in the last three months

while the ready category gained 4% searches during the same

time-period.

■

■

■

38% property seekers looked for ready-to-move-in homes, a trend that has picked up pace in the COVID era

Apr-Jun 2020

Jul-Sep 2020

4 Most Searched Property Type

Jul-Sep 2020

2%

12%

64%

19%

3%

1%

10%

64%

23%

2%

Independent Floors

Plots

Apartments

Villas

Row Houses

Apartments continued to dominate the searches for online

property seekers in the Jul-Sep 2020 quarter too.

The online search trends remained unchanged for different

property types in Q3, 2020 as compared to the previous quarter

except for villas.

Demand for villas bucked this trend and recorded a rise of 4% in

online searches, reinforcing buyers’ growing preference for larger

homes post COVID.

■

■

■

64% searches were recorded for apartments during the Jul-Sep 2020 quarter

Apr-Jun 2020

Jul-Sep 2020

5 Most SearchedCities

Gurgaon 16%14%

Noida 9%12%

Mumbai26%25%

Pune13%12%

Hyderabad 13%12%

Bangalore 23%25%

Jul-Sep 2020

While Mumbai continued to be on top of the list of most searched

cities, Bangalore was a close second with 23% searches.

In the NCR, Gurgaon gained buyer interest as searches inched up

marginally during the Jul-Sep 2020 quarter.

Demand for properties in Noida, on the other hand, saw a slight dip

of 3% as compared to the Apr-June 2020 quarter.

■

■

■

26% of the prospective home buyers searched for a property in Mumbai during the Jul-Sep 2020 quarter

Apr-Jun 2020

Jul-Sep 2020

WEST ZONEJul-Sep 2020

Pune

Mumbai

The Jul-Sep 2020 quarter saw a rise in searches for localities in the Western Suburbs with more than 40% share.

Borivali East followed by Andheri East were the most popular localities for home buyers in the zone.

As compared to the previous quarter, a surge of 5% was recorded in demand for localities in the Central Suburbs. Top localities preferred included Mulund West and Powai.

Navi Mumbai continued to record a moderate demand largely on the back of availability of affordable properties.

■

■

■

■

A significant rise of 10% in demand was noticed for localities in the western quadrant of Pune during the last three months.

Baner topped the list of the most searched locality not only in the West zone but also at the city level. Enhanced connectivity, proximity to IT hubs and availability of projects in multiple budget categories ensure steady demand here.

Localities in the PCMC jurisdiction continued to be preferred due to the presence of affordable properties.

■

■

■

East 25%West 42%

PCMC 26%

Central 4%

South 3%

Western Suburbs41%

Thane 8%

Central Suburbs 14%

Navi Mumbai 15%Mumbai Harbour 6%

South Mumbai 7%

Mira Road and Beyond 4% Beyond Thane 5%

SOUTH ZONE

Hyderabad

Bangalore

A whopping 57% of the prospective home buyers online searched for a property in East Bangalore during the Jul-Sep 2020 quarter.

Project completions has kept the Bangalore market ticking and East and South East Bangalore has had relatively higher number of ready inventories.

Some of the most preferred localities included Whitefield and Bellandur in the East and Electronic City in the South.

■

■

■

Localities in the western quadrant continued to be preferred by property seekers in Hyderabad. This could be attributed to the presence of the IT sector and enhanced infrastructure.

For the second time in a row, Gachibowli retained its position as the most preferred locality in the city.

High demand for Banjara Hills led to 20% searches for the Central zone.

Kompally, in the North, also clocked a steady demand on the back of affordable projects and enhanced connectivity via the ORR.

■

■

■

■

East 57%

North 15%

West 4% Central 3%

South 21%

East 14%

North 16%

West 45%

Central 20%

South 5%

Jul-Sep 2020

NORTH ZONE

Gurgaon

Noida

Central Noida20%

Noida Extension 35%

Noida Expressway43%

Greater Noida 2%

Golf Course Extension Road continued to be the most searched zone for residential properties in Gurgaon with 26% share of online searches.

Sectors in New Gurgaon saw a spike of 20% in online searches by prospective home buyers during the Jul-Sep 2020 quarter.

Central Gurgaon also saw a healthy demand of 20%, however, this was a significant drop of more than 10% from the Apr-June 2020 quarter.

■

■

■

Availability of ready projects along the Noida Expressway pushed up searches for properties in the zone during the last three months. It recorded the maximum share of searches in the Jul-Sep 2020 quarter.

Noida Extension continued to be a preferred zone due to the availability of affordable projects. The zone witnessed a healthy demand of 35% in the Jul-Sep 2020 quarter.

Most of the inventory in Greater Noida is under construction which explains the negligible number of searches for the zone.

■

■

■

Central Gurgaon 20%

Golf Course Extension 26%

New Gurgaon 26%

Dwarka Expressway 12%

Golf Course Road 5%

Sohna Road 7%

Southern Peripheral Road 4%

Jul-Sep 2020

Jul-Sep 2020

Square Yards is India's largest tech led brokerage and mortgage marketplace; a unique Online to

Offline (O2O) B2C transaction and aggregator platform for both Real Estate and Mortgages. Over the

last couple of years, Square Yards has successfully expanded globally in Middle East, Australia and

Canada with current presence across 9 countries and 30+ cities. Backed by partnerships with more

than 500+ developers across the globe, Square Yards now helps transact 20,000+ transactions worth

USD 1 Bn+ every year in Indian and Global Real Estate & Mortgages, which makes us one of the largest

players in the ecosystem

Disclaimer: The views expressed, and the data

used above are for informational purposes only

based on the online activity captured on

squareyards.com. Square Yards does not

guarantee the accuracy, completeness, or

reliability of the information and shall not be held

responsible for any action taken based on the

published information.

About Square Yards

Gurgaon Corporate Office; Good Earth Business Bay, 9th Floor, Sector 58, Gurgaon -122011.

© Square Yards-2020 | www.squareyards.com

Toll Free No. : 1800 208 3344

Contact us

Abu Dhabi | Bahrain | Doha | Dubai

Muscat | Melbourne | Sharjah

Riyadh | Sydney | Toronto

Bangalore | Gurgaon | Hyderabad | Lucknow |

Mumbai | Navi Mumbai | New Delhi | Noida |

Pune | Thane | Vijayawada | Vishakhapatnam

Global Presence India Presence