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Buyers are back in the market and property searches have surpassed pre-Covid numbers.

A quarter of respondents are looking to buy property as an investment: Deals and discounts during the festive season have attracted investments into the market. More than 1/3rd of the buyers will only buy if there is a discount available.


Buying for investment pattern
Wave 1 April: 19%

Wave 2 July: 13%

Wave 3 October: 25%


Buyers responding to festive discounts: Interest rates are down and stamp duties have been slashed. Developers have introduced innovative marketing techniques and discounting plans to sell inventory.

 

Types of deals and discounts on offer

·         Cash deals and discounts

·         Freebies and accessories

·         Innovative schemes

·         Waiver on duty components

·         Deferred payment plans


 

Most don’t expect further fall in prices: There is growing maturity in terms of price expectations. However, discounts can be a buying trigger.

Price perception

·         43% feel prices will decrease

·         21% say there will be no change in price

·         14% think prices will increase

·         22% can’t say


Tech playing larger role in real estate market: The desire for increased inclusion of technology has been constantly increasing over the last 6 months.

Digital marketing and engagement tools

·         Online documentation

·         Virtual tours

·         Personalised ads

·         Online portals

 

Healthy recovery very likely in 2021: Price stability, cheaper home loans, pent up demand and improving economic indicators likely to trigger demand.