THE IMPACT OF COVID-19 ON THE PURCHASE BEHAVIOUR OF CONSUMERS IN AFFORDABLE HOUSING IN INDIAN REAL ESTATE- AN EMPIRICAL STUDY

ABSTRACT

According to the PAN India Residential Market survey conducted by Anarock in 2020, the Q2 was the worst hit quarter and the new launches were the lowest since 2013 in both the residential and commercial segment. [...]the consumer and investor psychological pattern will take time and turn to showcase purchase behaviour. Realty products are high involvement products and requires intensive research before decision is made. [...]buying a house is considered a complex buying process. According to the model propounded by (Engel, et al., 1968;Howard and Sheth, 1969;Nicosa 1966) on consumer decision making, highlighting the psychological frame and individual behaviour from the time they have encountered the need for the product, quest for information and knowledge, alternative generation and evaluation, purchase of product and post evaluation.