Delhi/NCR Bachelors, the most keen buyers

It is usually said that if you want to master any art form, start young. Well, some youngsters in Delhi NCR have taken this adage to the property business. As per a recent survey, entitled ‘Are you a first time home buyer?’, Delhi/NCR  have the highest number of single property buyers!

The survey intended to find the preferences of first time home buyers, who are looking for 2/3/4 BHK apartments in Delhi. It indicated that more than 35 per cent of the single first time home buyers were either from Delhi /NCR.

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“Youngsters, particularly single professionals, indulging in property purchase is rare. However, the fact that the maximum number of these professionals are based in Delhi/NCR  does not come as a surprise. These are the IT professionals in these cities who earn well and are living away from their home towns,” says Mohd Rashid, Citi Propmart Pvt Ltd.

They prefer to pay EMIs than spend huge amount of money on monthly rent, adds Rashid. The survey stats also indicate the same sentiment with 40 per cent of these buyers in Delhi/NCR claiming the same.

So, what do these single professionals aim at buying? Slightly over 50 per cent of these buyers were interested in property in Delhi/NCR within a range of Rs 20-40 lakh while approximately 30 per cent were looking for builder floors.

So, even though single property buyers still form a very small percentage of the total property buyers in the country, the numbers are definitely growing. Delhi/ NCR seem to have set the trend for others to follow.

 "Youths ought to attempt and put resources into a little property to launch their venture portfolios. For self-utilization they ought to try for flats and for venture they ought to pick plots."

Are you a single professional in these cities waiting for the right time to buyreal estate property? As someone once said, ‘do not wait as the right time to buy property is ‘now’.