In this story, we introduce you to an eye-tracking technology that provides an intriguing look into the decision-making process of house hunters.

Eye-tracking tech shows what homebuyers ignore

Nearly 61 per cent of homebuyers in the mainstream India segment expect residential prices to increase in the next 12 months, according to the latest Knight Frank global and India buyer survey.&nbsp;

The report notes that 19 per cent of respondents globally have moved to a new house since the start of the pandemic. This rises to 25 per cent in Australasia and North America.&nbsp;

Of the non-movers, 20 per cent are more inclined to move in 2021 even as the pandemic continues.

In the Indian edition of the survey, 26 per cent of mainstream Indians had moved their residences within the pandemic period. These relocations were motivated by factors like want of more open space and proximity to friends and family.&nbsp;

ALSO READ | <a href="https://www.wionews.com/india-news/mahabodhi-temple-popular-buddhist-pilgrimage-site-reopens-after-months-of-covid-19-shutdown-408970">Mahabodhi Temple: Popular Buddhist pilgrimage site reopens after months of COVID-19 shutdown</a>

For Indian mainstream non-movers, 32 per cent were more inclined to move residences in the next 12 months.&nbsp;

An overwhelming 87 per cent of the respondents who desire to move homes in the next 12 months favoured the suburban neighbourhood of their current city of residence, while 13 per cent of respondents who want to relocate, may consider an alternate city.&nbsp;

Globally, 64 per cent of respondents expect the value of their primary residence to increase in the next 12 months. In the case of global Indian segment, which represents the higher-income segment, 32 per cent expect prices to rise.&nbsp;

ALSO READ |&nbsp;<a href="https://www.wionews.com/india-news/no-better-country-in-world-than-india-sikhs-evacuated-from-afghanistan-thank-indian-government-408967">'No better country in world than India': Sikhs evacuated from Afghanistan thank Indian government</a>

Reflecting a more optimistic outlook, 61 per cent of respondents in the mainstream Indian segment expect prices of their primary residences to rise in the next 12 months.&nbsp;

The report emphasises that the future of work will play a significant part not only for the commercial sector but also for the residential. More than half of respondents in the mainstream Indian segment expect to be back in the office for the entire workweek once all restrictions are lifted.&nbsp;

Shishir Baijal, Chairman and Managing Director of Knight Frank India, said the pandemic has changed the outlook towards ownership of homes.&nbsp;

Globally, two trends have stood out in the last few months.

Firstly, a growing ambivalence of some buyers when it comes to location, provided they can secure a co-primary home that delivers the lifestyle and enjoyment they feel they have missed out on.

And, secondly given low savings rates and frothy stock markets, buyers are taking a more defensive stance by rebalancing their portfolios with a greater focus on tangible assets such as property.

"Energy efficient homes are also gaining traction as the concept is finding preference among homebuyers in India," said Baijal.&nbsp;

Nearly 61 per cent of homebuyers in the mainstream India segment expect residential prices to increase in the next 12 months, according to the latest Knight Frank global and India buyer survey.

Nearly 61 per cent of homebuyers in the mainstream India segment expect residential prices to increase in the next 12 months, according to the latest Knight Frank global and India buyer survey. The report notes that 19 per cent of respondents globally have moved to a new house since the start of the pandemic. This rises to 25 per cent in Australasia and North America. Of the non-movers, 20 per cent are more inclined to move in 2021 even as the pandemic continues. In the Indian edition of the survey, 26 per cent of mainstream Indians had moved their residences within the pandemic period. These relocations were motivated by factors like want of more open space and proximity to friends and family. ALSO READ | Mahabodhi Temple: Popular Buddhist pilgrimage site reopens after months of COVID-19 shutdown For Indian mainstream non-movers, 32 per cent were more inclined to move residences in the next 12 months. An overwhelming 87 per cent of the respondents who desire to move homes in the next 12 months favoured the suburban neighbourhood of their current city of residence, while 13 per cent of respondents who want to relocate, may consider an alternate city. Globally, 64 per cent of respondents expect the value of their primary residence to increase in the next 12 months. In the case of global Indian segment, which represents the higher-income segment, 32 per cent expect prices to rise. ALSO READ | 'No better country in world than India': Sikhs evacuated from Afghanistan thank Indian government Reflecting a more optimistic outlook, 61 per cent of respondents in the mainstream Indian segment expect prices of their primary residences to rise in the next 12 months. The report emphasises that the future of work will play a significant part not only for the commercial sector but also for the residential. More than half of respondents in the mainstream Indian segment expect to be back in the office for the entire workweek once all restrictions are lifted. Shishir Baijal, Chairman and Managing Director of Knight Frank India, said the pandemic has changed the outlook towards ownership of homes. Globally, two trends have stood out in the last few months. Firstly, a growing ambivalence of some buyers when it comes to location, provided they can secure a co-primary home that delivers the lifestyle and enjoyment they feel they have missed out on. And, secondly given low savings rates and frothy stock markets, buyers are taking a more defensive stance by rebalancing their portfolios with a greater focus on tangible assets such as property. "Energy efficient homes are also gaining traction as the concept is finding preference among homebuyers in India," said Baijal.

Homebuyers in mainstream India segment expect prices to rise, says survey

The Centre has rolled out a number of schemes for middle-class homebuyers that are expected to entail net gains worth Rs 7 lakh, in a big boost towards the goal of 'Housing for All'.

<a href="https://www.wionews.com/business-economy/budget-2019-nirmala-sitharaman-to-launch-study-in-india-initiative-to-encourage-foreign-students-233240">Finance Minister Nirmala Sitharaman</a>, while presenting the <a href="https://www.wionews.com/business-economy/budget-2019-finance-minister-sitharaman-proposes-opening-up-insurance-aviation-sectors-to-boost-growth-233235">Union Budget 2019-20 in Parliament </a>on Friday, proposed additional deduction of Rs 1.5 lakh for interest paid on loans borrowed up to March 31, 2020.

This move, Sitharaman said, will translate into a benefit of Rs 7 lakh for middle-class homebuyers over their loan period of 15 years.

Those purchasing homes valued up to Rs 45 lakh under the affordable housing scheme, Sitharaman said, can avail enhanced interest deduction up to Rs 3.5 lakh.

"For realisation of the goal of 'Housing for All' and affordable housing, a tax holiday has already been provided on the profits earned by developers of affordable housing. Also, interest paid on housing loans is allowed as a deduction to the extent of Rs. 2 lakh in respect of self-occupied property," she added.

Talking about rental tenancy laws, Sitharaman said the Centre would take substantial steps to promote rental housing for which government would make amendments in the existing rental laws.

"Current rental laws are archaic as they do not address lessor-lessee relationships fairly," she said, adding that the new tenancy rules would be shared with the states.

The Centre has rolled out a number of schemes for middle-class homebuyers that are expected to entail net gains worth Rs 7 lakh, in a big boost towards the goal of 'Housing for All'.

The Centre has rolled out a number of schemes for middle-class homebuyers that are expected to entail net gains worth Rs 7 lakh, in a big boost towards the goal of 'Housing for All'. Finance Minister Nirmala Sitharaman, while presenting the Union Budget 2019-20 in Parliament on Friday, proposed additional deduction of Rs 1.5 lakh for interest paid on loans borrowed up to March 31, 2020. This move, Sitharaman said, will translate into a benefit of Rs 7 lakh for middle-class homebuyers over their loan period of 15 years. Those purchasing homes valued up to Rs 45 lakh under the affordable housing scheme, Sitharaman said, can avail enhanced interest deduction up to Rs 3.5 lakh. "For realisation of the goal of 'Housing for All' and affordable housing, a tax holiday has already been provided on the profits earned by developers of affordable housing. Also, interest paid on housing loans is allowed as a deduction to the extent of Rs. 2 lakh in respect of self-occupied property," she added. Talking about rental tenancy laws, Sitharaman said the Centre would take substantial steps to promote rental housing for which government would make amendments in the existing rental laws. "Current rental laws are archaic as they do not address lessor-lessee relationships fairly," she said, adding that the new tenancy rules would be shared with the states.

Centre announces benefits worth Rs 7 lakh for middle-class homebuyers

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