REVIVAL PLANS FOR REAL ESTATE POST COVID

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Sobha Royal Pavilion

The changing trend is a way of life, pandemic has just built on this culture even more. According to the latest reports, the entire concept of work-from-home and how people have adapted and used it as an opportunity is very much becoming a trend now and this should be praised too. Out of the so many new trends that people are pursuing these days, work-from-home is also one of them. Bangalore being an IT hub has been seeing this huge surge in queries related to homes and apartments.

Since the entire concept of work-from-home is in full swing and is expected to continue even in the coming time, people are planning to invest more in their place of living. Since the demand to create workstations at home has become a necessity due to pandemics, people are coming up with various ways in which they can make this happen in these most innovative ways. Therefore, with being at home and spending most of their time there, people are wishing to buy bigger homes with more space and better comfort. Such demands have also increased in the city of Bangalore with so many MNCs and being the IT hub, lots of people are employed in the city and this leads to an upsurge in the demand for new homes.

According to recent reports, companies have stated that with everything that’s going on, consumer preferences have also changed. Companies should plan and design homes with holistic living experiences and create a space that should be multi-functional and have dedicated workspace stations, relax spaces, entertainment sections, and should have a comfortable vibe that would help in increasing the work efficiency and keep their mind at peace. The homes, apartments, and villas could also have proper ventilation (should be airy), should have ample amount of light and green spaces too.

With the increase in people looking for homes and apartments, this also comes up with various opportunities for people and an upsurge in jobs in the sector. According to the recent studies “around 5.5 crores, people were employed by the real estate industry in the year 2019 and the number is expected to increase up by almost 7 crores more people being employed in the same industry”. Since people are inclined to live in urban areas because of better facilities and lots of amazing opportunities, by the year 2051 almost 86 crore people will be living in urban areas so the need for the increase in homes, apartments, and villas is a must.

With new laws, authorities, and agencies coming up in the real estate sector, people are finding it easier and comfortable to find out residences for themselves. For many people, it’s a dream to buy or build a house of their own and the pandemic has given them an opportunity to look at it. It’s not just about the square footage but the vibe you get from the place that matters and therefore this pandemic has certainly redefined the ways of living to a great extent.

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