Semi-furnished homes preferred in Hyderabad
Hyderabad: Whether it is to buy a house or to rent one, a fully furnished home is not everyone’s cup of tea. Buyers prefer to get interiors and furnishing done according to their taste and choice. The idea of buying or renting a fully furnished home is not appealing to many even as semi-furnished or […]
Hyderabad: Whether it is to buy a house or to rent one, a fully furnished home is not everyone’s cup of tea. Buyers prefer to get interiors and furnishing done according to their taste and choice. The idea of buying or renting a fully furnished home is not appealing to many even as semi-furnished or unfurnished apartments are the preferred choice.
Most property buyers are keen on either renting out the place or using it for self-use and, as a result, furnished flats appear to be the ideal option only for those who are willing to pay more money in order to avoid the pain of having to set up a home from the scratch.
In Hyderabad, according to a recent report by ‘NoBroker.com’, 69 per cent of buyers are looking for ready-to-move apartment even as 58 per cent of tenants prefer semi-furnished accommodation and only 21 per cent prefer unfurnished and fully furnished homes each.
“During the second quarter of 2021, over 72 per cent of property buyers in Hyderabad looked for unfurnished apartments. The relatively inflated costs that come with well-furnished and semi-furnished apartments might be attributed to the rising trend of unfurnished apartments. In Hyderabad, however, it can be attributed to real estate investors’ general preference for residential property as an investment opportunity rather than for end-use,” says Dr Boodati Lakshmi Narayana, founder and MD, Sahiti Group.
Vouching for this trend, Knight Frank Hyderabad branch director, Samson Arthur, informed that the current trend is towards ready-to-move properties and in some areas towards under construction homes. “In these kinds of properties, the buyers have the option of choosing the add-ons of their choice and not compromise on their needs,” he said.
Except for a small group of customers, the idea of buying a fully furnished home has never appealed to the general public. Despite the abundance of conveniences, furnished flats are more expensive and offer little or no customisation options.
“Buyers are keen on investing in only those properties where only the flooring and toilets have been done and want to change the interiors once they get possession,” says Sandip Patnaik, MD, Hyderabad, JLL India.
Tenants’ preference
In terms of tenants as well, the preference is towards unfurnished properties as it allows them to personalise their homes. These kinds of properties are more cost-effective than furnished properties. Because rental fees are typically lower, buying your own furniture may be a more cost-effective option.
Semi-furnishing a rental property is a third option, in which the landlord provides crucial, larger things such as mattresses and wardrobes while leaving the smaller items to the tenant. This again allows tenants to personalise their property without having to rely on bulky furniture. “Some tenants do prefer some kind of furniture which includes semi-furnished kitchen, wardrobes and in some cases even wall attached beds. However, these do come at a premium cost,” says Arthur.
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