The share of ready-to-move-in (RTMI) homes in the total housing sales in the primary market rose to 21 per cent in 2020, from 18 per cent in the previous year, as home buyers preferred completed apartments to avoid the risks attached with under-construction properties, according to a report by PropTiger.com. In its latest ‘Real Insight Residential-Annual round-up-2020’, PropTiger said that a total of 1,82,640 units were sold in 2020, of which 21 per cent were in the RTMI category and 79 per cent were under-construction.
PropTiger research found that the share of RTMI in the total sales has been on the rise since 2016. The share of RTMI in the total sales during 2015 was 7 percent, which increased to 10 percent in 2016, 12 percent in 2017, 15 percent in 2018 and 18 percent in 2019.
The share of RTMI units in the total sales was the highest in Chennai at 32 per cent and lowest in Hyderabad at 12 per cent, during 2020. The December 2020 PropTiger Research survey points out that real estate continues to remain the preferred investment asset class, as 43 per cent of the respondents favoured real estate. The December survey also revealed that 47 per cent of the participants preferred larger homes. In the May 2020 survey, only 33 per cent had this preference. The survey was undertaken by PropTiger Research. Views of more than three thousand potential homebuyers were taken during each period.
