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As many as 70% respondents want to buy a second home within two years: Survey

Goa and Maharashtra lead the domestic demand for second home market.

Goa leads the domestic demand for second homes.

Goa leads the domestic demand for second homes.

With the COVID-19 pandemic appearing to have created several resets in real estate and the wider acceptance of work from anywhere, the demand for second homes has gone up. As many as 70 percent respondents want to invest in a second home priced at Rs 2 crore or less within two years, a survey by Savills India, a global property consultancy firm amongst prospective homebuyers, has said.

Approximately three-fourths of the potential buyers would like a second home in locations like Dehradun, Nainital, Shimla, Goa, Alibaug, Lonavala, Mahabaleshwar, Coorg, Ooty and Wayanad.

The survey respondents were willing to invest in second homes across the length and breadth of the country, starting from Kovalam in the south to Manali in the north and Gujarat in the west to Meghalaya in the east, the top 10 destinations emerging from the survey collectively have a share of 87 percent within the domestic locations.

Goa (20 percent) leads the domestic demand for second homes with one-fifth of respondents interested in buying a second home here. Almost 70 percent of demand is within the Rs 2 crore price range.