The application of artificial intelligence (AI) to real estate customer profiling has fundamentally transformed how leading property brokerages leverage technology to understand and serve their customers. ANAROCK has analysed some of its customer intelligence data from 2020 to 2024 to reveal significant shifts in buyer demographics and preferences.
The data shows a consistent shift toward older homebuyers, with the proportion of buyers under 35 decreasing significantly. In 2024, buyers aged 36-40 represented the largest segment, while the under-25 demographic fell to just 4% from 8% in 2020.
Data shows that there has been a substantial increase in preference for homes above INR 1 crore, rising from 18% in 2023 to 32% in 2024. This trend toward premium properties is particularly pronounced among buyers over 41 years of age, who are driving demand for homes in the INR 2+ crore category.
The analysis shows a growing preference for 3BHK units, which increased to 45% in 2024 from 38% in 2022, while 1BHK preferences declined significantly. This shift reflects changing lifestyle needs and the impact of remote work trends.
Key Trends from 2022–2024
- Largest share of buyers in INR 50 lakh–1 Cr budget range: ~28% in 2022, ~32% in 2023, ~35% in 2024
- Share of buyers in up to INR 25 lakh range declines: ~16% in 2022 to 14% in 2024
- Share of buyers in INR 1–2 Cr segment rising: 14% in 2022, 16% in 2023, 17% in 2024
- days from inquiry to booking rising: 25 days in 2022, 27 days in 2023, 28 days in 2024
- Dominant buyer age group is consistently 31–35; youngest (<25) & oldest (>45) have smallest shares of buyer pool
Buying sources:
- Digital sources down from ~35% (2022) to ~30% (2024)
- Channel partner sources rise from ~28% (2022) to ~32% (2024)
- Offline channels rise from ~25% (2022) to ~28% (2024)
- Referral channels hover at ~12%
