As per the data of real estate experts, regardless of the observable advantages of a furnished home, only 10% of home seekers searched for fully-furnished home across top tier-1 cities. In contrast, 81% of the home seekers in Delhi NCR looked for semi-furnished home and more than 70% online searches in Hyderabad registered for unfurnished apartments.
Semi-furnished & unfurnished homes seem to the holding the attention of prospective buyers, but for the time being, fully-furnished homes seem to have taken a back seat.
Extraordinary growth of the real estate sector in the last few years has widened the scope of options available to home buyers. Fully furnished homes were expected to become the first choice for new-age home buyers given the stress-free shifting and living facilities that would come with such home. On the other hand, this type did not really lift up and seems to have attracted only a special segment of home seekers over the years.
Furnished Apartments Yet To Be Optimized From Home Buyers Side
Residential Property Hunting Trends: Furnished Status in Top Cities of India
Except a niche segment of home buyers, the idea of choosing fully-furnished home has never been too pleasing to potential home buyers. Despite presenting lots of amenities, furnished apartments, without any doubt, prove to be extra costly and less or no space for the customization. According to the Data, approx 10% demand was recorded for furnished homes in the cities like NCR & Pune in second quarter of 2021.
Now, modern home buyer fond of reflecting their style & standard of living in their residences, and a fully furnished home with fixed design and structure is not an ideal choice for them anymore. As a result, for now, furnished apartments seem to be the best choice only for those home seekers who do not mind spending extra money in order to skip the suffering of arranging the home from scratch.
Are Semi-furnished apartments the new trend?
Even if a big part of the property online searches in the big cities were concentrated in the semi-furnished housing but this type does still not the best choice for home seekers as 50% of home seekers still prefer unfurnished apartment. On the other hand, the semi-furnished housing segment is positively seeing a rise in demand, particularly in regions driven by a young population of working class professionals. For example, more than 80% home seekers in Gurgaon searched for semi-furnished apartments and approx 60% home seekers opted the same in Noida & Bangalore. Consequently, it is very clear that the semi-furnished section might hold more demand in the coming time.
Furnished or Unfurnished homes and Semi furnished homes
As per top real estate web portals in India, approx 72% of home seekers in Hyderabad looked for unfurnished apartments during the second quarter of 2021. This was not the only region to register a preference for unfurnished apartments. The same movements were also observed in Pune with demand of 61% for unfurnished apartments. This pushes home seekers to consider on the trend more calculatingly.
The rising trend of unfurnished apartments can be credited to the very high prices come with the well-furnished and semi-furnished apartments particularly in the big cities. On the other hand in Hyderabad, it can be attributable to the general tendency of real estate investors seeking residential property as an investment opportunity than for end use.
As well, many home seekers may tend to put off the buying of semi-furnished or furnished apartments owing to lack of funds or for shortage of pleasing options in the market. On the other hand, as mentioned above, regions such as Delhi NCR and Bengaluru -being habitat to a big part of mid-age budding working professionals having a comparatively good spending capacity, exhibited a rising preference for semi-furnished apartments. This trend is expected to exist in the market for the next few years as well.
As a result, there seems to be a visible clash between unfurnished and semi-furnished apartments in the midst of potential homebuyers in different cities of India. Demand for fully-furnished homes is expected to remain muffled in the coming couple of quarters too.
Frequently asked questions
What is a fully furnished apartment?
A fully-furnished apartment is equipped with all necessary items of the family unit, like sofa, table lamp, bed, wardrobe, electronic appliances, kitchen fully equipped with utensils, etc. So as a buyer, you have to do zero heavy liftings.
What is the semi-furnished apartment?
These apartments comprise furniture, fans, light, and a kitchen with cabinets without utensils. Here you will get a few amenities in comparison to full-furnished apartments.
What is the unfurnished apartment?
As its name suggests, an unfurnished apartment comes without furniture and other appliances. These apartments are generally available with just electric fitting & plumbing work, here you need to carry everything with you like bed, furniture, fan, AC, and kitchen appliances, etc.
Which is the best semi-furnished or fully-furnished apartment for rent in Delhi?
You can check DLF Capital Greens Community in Moti Nagar Delhi for a semi-furnished or fully-furnished apartment for rent in Delhi.
