With the ongoing pandemic, there is a considerable shift in the demand for housing types and property price trends that the real estate market has witnessed. I will divide this answer into two parts for you; demand for rental accommodation and post-pandemic market trend in buying houses.
Here’s what you need to know about rental housing trends and demand post-pandemic:
Ever since the pandemic hit the country, the demand for rental accommodation in the outskirts of the town has increased. The major reasons being proximity to nature and affordability of spacious housing.
Since expenditure on leisure activities, transportation and travel have decreased, the budget for rental accommodation has increased, hence people are looking for multi-functional rental accommodation which enables them to set up their workstations, gym equipment, study, etc.
Below are a few points that contribute to the changing trend of buying a house in the post-pandemic era.
The demand for smaller houses such as 1BHK or 1RK has dropped considering people are preferring to shift to spacious houses that can accommodate and act as multi-functional areas.
I believe buyers are attracted towards safer and well-managed society accommodations since they find it beneficial to have society apps that ups their community management game, help them with better communication, staff management, visitor management, etc.
Again owing to the pandemic, people are saving a lot from travel and transportation, leisure activities(shopping and going to malls) hence their budget to buy a bigger and spacious apartment has increased. As per the NoBroker real estate report, the demand for houses above Rs. 1 crore has increased post-pandemic.
I believe work from home is here to stay so people are thinking long-term and investing in properties accordingly. A lot of people are opting for home loans for buying a new home. I believe you should check the widget below. Just mention important details and you will get to know home loan amount.
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What is the change in the trend and demand of the housing type post Pandemic???
Sanjokta
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February 25, 2021
2021-02-25T17:02:37+00:00 2021-02-25T17:02:37+00:00Comment
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