Aussie renters prefer small units over large houses, and other real estate headlines

For PropertyGuru’s news roundup today, renters in Australia prefer small units over large houses, S P Setia’s Setia Warisan Tropika and Setia Eco Templer received Diamond Design Awards, and Japanese dating based on their dream home.

Why more Australian renters now prefer smaller units over larger houses

Demand for larger properties and homes further from cities surged during the pandemic, as people sought homes better suited to remote work and changed lifestyles.

But more recent data on rental prices, searches, and lease times show that renters have reverted to seeking similar homes as before the pandemic, with people now looking for and choosing to rent smaller properties.

According to PropTrack, units are now leasing 36% faster than in November 2020, whereas houses are leasing 9% faster.

Realty reality: Will luxury housing in India lose its sheen in 2024?

The Indian real estate sector recorded an all-time high in annual sales in 2023. Most importantly, Indians are now shifting towards more expensive properties.

Business Standard spoke to industry players and analysts who said that the demand for costlier homes in India is expected to remain robust in 2024.

Santhosh Kumar, vice chairman at Anarock Group said, “Considering the present trends in residential real estate, demand for luxury homes will continue to remain strong in 2024.”

Japan dating service matches singles based on their dream home

A new service in Japan brings together potential couples who share similar preferences for a home, taking them to a property viewing on their first date.

According to NikkeiAsia, Japanese real estate company Open House Group hopes that the service, which began in January, will lead to home purchases by pairing people with similar lifestyle aspirations.

When registering, users say whether they own a home or rent, and specify their mortgage or rent payments. They also say what they want in a new home, such as a detached house or a condominium. They do not submit profile photos, educational backgrounds, incomes, or other personal details.

The Property Report editors wrote this article. For more information, email: [email protected].