CHANGE IN PREFERENCES FOR HOME BUYING POST COVID

It is not a hidden fact that Covid-19 has drastically impacted our lives and everything related to it. The perception of people towards everything be it how to live their life or what should be given more importance has drastically changed. Companies are looking for various new opportunities, the vision people had has completely changed now. So many new things are trending and so many old things are taking a back seat. One such area which is continuously growing is real estate.

With the growing trend to buy houses and apartments in the middle-class sector of the country, the real estate businesses are all set to boom because this class comprises the majority portions of the economy. While some people are willing to move towards someplace quiet, others are also willing to move towards the city to help them with their jobs. Almost 26% of Indians moved from one place to another during the pandemic and 1 out of every 5 people are willing to move or have a change of residence during or post-pandemic around the world.

One significant and notable trend that has been observed during the course of the pandemic is that people are willing to buy their homes closer to their workplaces. Since buying a residence near to their workplace is a “dream come true” for so many people, companies are coming up with projects that would emphasize this. People these days are even okay with living in studio apartments or compact homes if they are getting a chance to reduce their office traveling time. This is so because it comes with an added advantage of being with their family and gives them a chance to manage their professional and personal lives in a decent way.

THE CHANGE IN TREND

Developers too have realized this trend and are willing to shift their focus towards new-age buyers and their particular trends. According to reports, people (especially the new-age buyers) are willing to buy greener homes with a bit of a modern touch. They also prefer their homes and apartments to be in close vicinity to their workplaces. The trends these days are that people prefer homes that are energy efficient and have all sorts of facilities like airports and some other transportation facilities, educational institutions and entertainment theaters, supermarts, and healthcare facilities.

According to reports, around 32% of people from mainstream India are willing to shift to new homes due to the pandemic and post Covid-19. People have also expressed their interest in willing to have homes with outdoor spaces and with more comfort and privacy. They are leaned towards having homes in quieter places rather than chaotic ones. People prefer to have good social lives along with managing their personal and professional lives.

As India and the entire world tries to fight the pandemic, such an increase in real estate certainly is one of the positives we can see from this Covid-19 and it will certainly help us in growing from strength to strength.

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