57% Indians Think it is a Good Time to Buy Property: Ipsos Study

A new poll by global research company Ipsos finds that almost six in ten (57%) Indians think the next 30 days will be a good time to buy real estate, such as a house, vacation property or investment property.

“With the formation of a new stable government at the center, the consumer sentiment which was low in the last 2 years has improved significantly. The stock market has already reacted in a positive manner reflecting this change, the real estate price are expected to go northwards by the end of the year,” said Bhasker Canagaradjou, Associate Director, Ipsos Business Consulting.

“The realtors reeling under large scale of debt are offering discounts to reduce their inventory levels taking advantage of the new found optimism in the market.  The residential real estate market may see an uptick in the demand and increase in the number of transactions in the near future,” added Canagaradjou.

Both people with high levels of household income (58%) and education (58%) are more likely to say it will be a good time to buy property in the next 30 days across India. Women (59%) are more likely than men (56%) to say yes, as are younger respondents (60% among those younger than 35) compared with older respondents (40% among those aged 50-64).

Majority (65%) of people in Russia think next 30 days would be a good time to buy property followed by India (57%), Indonesia (55%), Ireland (51%), Great Britain (47%), Mexico (44%), Australia (42%), Hungary (42%). Those rounding out the middle of the pack are from the United States (41%), Germany (40%), Canada (39%), Italy (38%), Argentina (37%), South Africa (37%), Sweden (37%), Poland (35%) and Spain (34%). Those least likely to say ‘yes’ are from Belgium (33%), Saudi Arabia (32%), Brazil (30%), Turkey (30%), Egypt (30%), France (29%), China (22%), South Korea (21%) and Japan (12%).

About these findings

The survey instrument Global @dvisor is conducted monthly in 24 countries via the Ipsos Online Panel system. This month, 26 countries participated. For the results of the survey herein, a total sample of 20,144 adults age 18-64 in the US and Canada, and age 16-64 in all other countries, was interviewed between April 1st to April 15th 2014. Approximately 1000+ individuals were surveyed in Australia, Brazil, Canada, China, France, Germany, Great Britain, India, Italy, Japan, Spain, and the United States of America. Approximately 500+ individuals were surveyed in Argentina, Belgium, Hungary, Indonesia, Ireland, Mexico, Poland, Russia, Saudi Arabia, South Africa, South Korea, Sweden and Turkey. The results reported include n=560 in Egypt, a 25th country included in the Global Economic Pulse, conducted April 20th-27th, 2014 The sample in Egypt was conducted via CATI (telephone) methodology and has a margin of error of +/- 4.1% points, 19 times out of 20.  In countries where internet penetration is approximately 60% or higher the data output is comparable the general population. Of the 24 countries surveyed online, 15 yield results that are balanced to reflect the general population: Argentina, Australia, Belgium, Canada, France, Germany, Hungary, Italy, Japan, Poland, South Korea, Spain, Sweden, United Kingdom and United States. The nine remaining countries surveyed –Brazil (45.6% Internet penetration among the citizenry), China (41%), India (11.4%), Indonesia (22.1%), Mexico (36.5%), Russia (47.7%), Saudi Arabia (49%), South Africa (17.4%) and Turkey (45.7%)—have lower levels of connectivity therefore are not reflective of the general population; however, the online sample in these countries are particularly valuable in their own right as they are more urban/educated/income than their fellow citizens and are often referred to as “Upper Deck Consumer Citizens”. The precision of Ipsos online polls are calculated using a credibility interval with a poll of 1,000 accurate to +/- 3.5 percentage points and of 500 accurate to +/- 5.0 percentage points. For more information on the Ipsos use of credibility intervals, please visit the Ipsos website.