Swimming through the choppy tides of a global pandemic, one of the major learnings that have hit us hard is the necessity of owning a home. With the aspect of owning a home has become a necessity, the idea of home in itself has, also, undergone a change. Affordable, bigger and well-planned homes with all the essential facilities are of prime importance now as much as the need to invest and buy a home. This change in need has brought in a change in trends in the Indian real estate sector in the COVID-19 times. Here is a list of some of the emerging trends:
There has been an identifiable shift in the home investment pattern among credible buyers and investors, especially millennial buyers. These catastrophic times have made them realise the importance and prioritise the need for homeownership. The security of a tangible fixed asset like home, coupled with easy home loans with lower interest rates and the prospect of better ROI makes homeownership a priority now.
Functional, planned and affordable houses are the need of the hour. Along with the need for owning a house comes in the requirement for affordable and planned houses. The current situation and its uncertainty have held our purse strings even tighter than before. So, while the need for homeownership has been more urgent than ever before, the pressing need for affordable homes have also become important.
The global pandemic with its pitfalls and curbs has also increased the demand for Ready-To-Move (RTM) homes and the facility of online home buying. The restriction on movement that this pandemic has put on our lives have made RTM flats a need.
Never has the idea of home undergone a sea change as it did in these current times. From being homebound within the four walls, buyers are on the lookout for homes that will give them access to a slice of the outdoors. Private outdoor spaces like balconies or backyards have now become essential amenities that buyers are looking for when buying their homes.
The current times have made buyers reassess and rethink about amenities in a new light. Working from home has become a new normal and with it comes the need for homes that are well-suited to facilitate such a lifestyle. Technology is key to WFH, so homes with chalked out workspace, multiple switchboards in well-placed positions, high sleep wifi connection are in more demand now.