Hello,
Looking at the current situation, the rents of the houses in major cities have already gone down. While talking to a friend of mine, I got to know that many landlords have started to quote a lower rental amount compared to the ones before the pandemic. She stays in a 1 BHK apartment in Bangalore and the rent before pandemic for 1 BHK apartment in her area was around 9,500 to 10,000. As many properties are lying vacant, many landlords have been offering a lower rent price. Currently, the rent for a 1 BHK in her area has gone down to 8,000 per month. This condition might prolong for a while until people start moving back to the city. To conclude, I feel, the rent prices in 2021 would decrease a little. If not decreased, it would remain the same, but chances of rental prices increasing quite low.
Hope this helped you!
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Will monthly rents of houses increase or decrease in 2021?
Ashwini
245 Views
1
5 Year
2020-09-02T11:46:46+00:00 2020-11-11T18:38:24+00:00Comment
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