Internet impacts over 50 percent real estate buying choices

Real Estate Buying Choices

Hyderabad, June 18 ( IANS ) Over 50 percent of real estate property buyers choices are depends on Internet research , discovered a survey by Google India .
That Internet possesses instantly gathered a considerable amount of enterprise space online continues to be quite obvious for long and a Google India research demonstrates how strong Net's visibility continues to grow in the real-estate market.
The Google India research, executed on basis of a pan India offline study performed by Zinnov and real estate property related search query trends on Google, aims to get rid of lighting on the influence of Internet on real estate purchase decisions in India.
The over-all impact of Internet on real estate property purchase value of both residential and commercial real estate as well as rentals amounted to $43 billion , with $31 billion for residential and $12 billion for business properties .
The offline study undertaken across 15 cities in India with more than 6, 000 respondents shown that 74 percent of real estate research online was involved in residential purchasing and 26 percent dedicated to residential leasing.

Among these, almost fifty percent the respondents were unresponsive to new or resale real estate (47%) as the considerations for analysis concentrated more on their space necessity , budget and also location . 23% respondents were looking for resale property only, and 30% were searching for new home under development.
In the survey, respondents evaluated Internet in the major three platforms for information and facts for real-estate study, with 24 percent respondents rating Internet as the major desired destination for facts. Print media and sales-broker workplaces were the rated as the additional best two facts resources for real estate facts.
Nitin Bawankule , Industry Director , Google India , said "Real estate queries on Google search have been growing consistently , registering over 3x growth in the last three years , the rate of query growth is even higher for tier 2 cities and growing at over 350% . Our search query data shows that over 53% search queries are done with clear purchase intent."
The highest number of real estate queries comes from:
* Pune, Luck now, Coimbatore, Nagpur, Kanpur, Jaipur, Indore, Chandigarh, Surat and Ahmedabad.
* Amongst the top metros - NCR followed by Mumbai, Bangalore, Hyderabad, Kolkata, Chennai