Artificial intelligence (AI) is reshaping the real estate industry’s understanding of homebuyers, and fresh insights from ANAROCK’s AI-powered platform ASTRA reveal significant changes in buyer preferences, budgets, and behaviour between 2022 and 2024.
Rs 50L–1Cr Homes Lead Buyer Demand
Between 2022 and 2024, homes priced between ₹50 lakh and ₹1 crore consistently held the largest share of buyers:
- 2022: ~28%
- 2023: ~32%
- 2024: ~35%
At the same time, demand in the up to ₹25 lakh budget category fell from 16% in 2022 to 14% in 2024. The ₹1–2 crore segment saw steady growth, from 14% to 17% in the same period.
Shift Toward Premium Properties
According to Aayush Puri, Head – ANAROCK Channel Partner & ANACITY, there has been a notable rise in buyers opting for premium homes above ₹1 crore — jumping from 18% in 2023 to 32% in 2024.
This is particularly driven by buyers over 41 years, many of whom are purchasing ₹2+ crore properties. Interestingly, ultra-luxury homes above ₹3 crore recorded shorter decision cycles of just 16 days in 2024.
Buyer Age Trends: Older Demographics Dominate
While the 31–35 age group has historically dominated, 2024 saw 36–40-year-olds emerge as the largest buyer group. The share of homebuyers under 25 years dropped to just 4% in 2024, compared to 8% in 2020.
Decision Cycles Getting Longer
AI-tracked data shows average inquiry-to-booking days increased from 25 days in 2022 to 28 days in 2024. However, luxury buyers are quicker to close deals once engaged.
Buying Channels: Brokers Gain Ground
While digital sources (developer and aggregator websites) fell from 35% in 2022 to 30% in 2024, channel partners rose from 28% to 32%.
Offline direct visits also increased, while referrals stayed steady at ~12%.
3BHKs Rising, 1BHKs Declining
Configuration preferences are shifting toward larger homes:
- 3BHK: Rose from 38% in 2022 to 45% in 2024
- 1BHK: Declined notably over the same period
This change reflects evolving lifestyle needs and remote work’s influence on space requirements.
AI’s Expanding Role in Real Estate
ANAROCK’s ASTRA platform uses 74 AI models to analyse 2.8 million qualified leads, delivering insights that are transforming sales strategies. AI-powered lead scoring, property matching, and behavioural analysis have improved conversion rates by up to 30%, while enabling a 95% accuracy rate in matching buyers to suitable properties.
This data-driven approach marks a decisive shift away from intuition-led selling, bringing measurable efficiency and targeted marketing to India’s housing market.
Also Read: Affordable Homes Selling Faster, Luxury Homes Slowing Down
