Luxury Home Buyers: Impulsive Spenders or Savvy Investors?

11 Nov 2024 , 12:45 PM

The duration of time it takes to purchase a home after expressing first interest has decreased from 33 days in FY21 to 26 days, which is the pre-pandemic level.

Luxury properties costing Rs 3 crore and more have the shortest conversion times, taking only 15 days in H1 FY 2025, according to Anarock statistics.

The time it takes for property seekers to become buyers is a crucial indicator of overall demand, as home is quickly becoming India’s most popular investment choice.

In FY 2019 and FY 2024, the lead-to-conversion period was at its shortest, at 25 days.

Buyers of ultra-luxury homes have the financial means to act more quickly. Additionally, there is a need for speed because attractive inventory tends to sell out quickly and high-end properties are currently in the highest demand, according to Anuj Puri, chairman of Anarock Group, who talked to ET.

From the moment they received a lead to the time they paid the booking fee, buyers of residences valued between Rs 50 lakh and Rs 1 crore took the longest (about 30 days) to make a decision.

The shortest conversion period for this group of households, however, was only 20 days in FY 2024.

For feedback and suggestions, write to us at [e-mail]