Chennai: A study called ‘India Buyer Survey 2021- Living in the times of Covid 19’ by Knight Frank India cited that over three-fourth (77%) of respondents from Chennai expected the value of their primary residence to increase in the next 12 months.
While just 16% of the respondents cited to have moved to a new home since the start of the pandemic, more than half (55%) of the respondents have expressed willingness to purchase a second home in the next 12 months. Around 57% of the respondents have showcased a desire for purchase a second home because of the Covid pandemic.
With respect to home price trajectory; 46% of the city respondents expected the price of their current residence to mark up between 10% and 19% in the next 12 months. Around 18% of the respondents expected an increase by more than 20% in the next 12 months.