Post Covid Trends in the Residential Real Estate Market

by Godrej Properties Limited

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The COVID-19 pandemic changed the course of many things, and the real estate market was no exception. Real estate trends and consumer behaviour in finding a place to live are seeing new demands that were less prevalent prior to the pandemic. Since almost two years were spent indoors, ‘home’ has been redefined like never before. It has a new identity now and is here to stay.

Home ownership over rentals

With the knowledge that your home could possibly become your entire world and that the entire world can be reached from your home, buying property over renting is more preferred now. It is a long-term investment, keeping in mind what has happened over the last few years. It increases a sense of belonging and adds more value to the life of the individual. Also, when COVID-19 began, real estate prices fell significantly, making it easier to purchase property at much lower rates. The pandemic also enforced new habits, such as attending classes from home, working from home, schooling from home, etc. As a result, installing new amenities became a must and undeniably it is a lot easier when you own the house. It enhances daily life while also gaining an asset that will have high returns in the future. One is able to build the life one needs and wants without the interference or authority of another person. Thus, the real estate market is leaning towards property ownership rather than renting one.

Space for everyone

The idea of needing and wanting privacy and personal space was heightened during the pandemic. As much as staying with everyone strengthened familial bonds, the value of ‘me-time’ and maintaining distance was also learned. Consumer preferences have shifted toward larger spaces that are designated to different activities as well as different members of a household. Even though the real estate prices for larger spaces are quite higher, there is a surge in the search for bigger rooms, larger kitchen and dining areas, gardens, and balconies. No one wants to compromise on having a spacious environment and a sense of luxury as well. There must be separate rooms for the children, separate rooms for work and study areas, and separate rooms for recreational zones. It is about upgrading life itself and living it in the best way possible. Trustworthy companies, such as Godrej, have put their best foot forward in meeting such needs, and their apartment complex, Godrej Park Retreat, on Sarjapur Road in Bangalore, is one example of their many impressive projects.

A holistic approach to living

Initially, one would associate a home with relaxation, family time, sleep, and home-cooked meals. It was a place of solace and, at times, escape from the outside world. But now, the definition has been altered. With the advent of the internet and the pandemic that kept everyone at home, a home is much more. The ‘work from home’ lifestyle and online classes have become game changers in the real estate market. So creating spaces that are allotted for each task is the need of the hour. Health and fitness are also being relooked at completely. Individuals now prefer a home that has all the facilities that one needs to be healthy and highly productive. Homeowners also seek out facilities and services close to their residence like parks, gyms, swimming pool areas, etc. The real estate housing market must offer homes that have designated areas for work, play, and relaxation and also a setting that encourages a wholesome living experience.

Making more room for technology

The power of the internet was at its peak during the pandemic. No matter what age or generation, everyone had a gadget, and everyone was online. Home offices, workstations, and online study areas were common in quarantine. While looking to purchase a new home, keeping in mind the technological aspects is a priority. The world of artificial intelligence and virtual reality has crept in and is only going to get bigger. Current trends shape many life choices, and now real estate trends have homeowners wanting a real estate housing market that thrives with choices that have the advantages of the tech world. Phones are not the only ones that have become smart. For example, lock and key doors are becoming old news, and smart doors with digital locks are in. Controlling other devices is made easier even without lifting a finger, but rather by raising your voice with commands to Alexa and Siri. Appliances like a refrigerator now come with Wi-Fi connectivity that lets you access the contents inside no matter where you are, a touchscreen interface, entertainment options, and much more. You will realise that your needs are not going unheard when you know that Godrej Splendour, in Whitefield, Bangalore has fashioned an ambience where nature meets the future in the most beautiful way.

The pandemic taught us that so much can be achieved even from home. One could learn a new skill, teach others new skills, get a degree, teach degree courses, get a new job, or even start a new company. The fact that these massive tasks can be accomplished from a bedroom or living room has altered the residential real estate market to provide homes that equip one with everything to conquer the world. Reputable brands like Godrej have introduced properties that cater to these post-pandemic needs through different projects across the country, namely, Godrej Exquisite, Thane, and The Highlands, Godrej City, Panvel in Mumbai,Godrej Nurture, Sector 150 in Noida, and Godrej Connaught One, Connaught Place in Delhi, among many more. 

The COVID-19 pandemic changed the course of many things, and the real estate market was no exception. Real estate trends and consumer behaviour in finding a place to live are seeing new demands that were less prevalent prior to the pandemic. Since almost two years were spent indoors, ‘home’ has been redefined like never before. It has a new identity now and is here to stay.

Home ownership over rentals

With the knowledge that your home could possibly become your entire world and that the entire world can be reached from your home, buying property over renting is more preferred now. It is a long-term investment, keeping in mind what has happened over the last few years. It increases a sense of belonging and adds more value to the life of the individual. Also, when COVID-19 began, real estate prices fell significantly, making it easier to purchase property at much lower rates. The pandemic also enforced new habits, such as attending classes from home, working from home, schooling from home, etc. As a result, installing new amenities became a must and undeniably it is a lot easier when you own the house. It enhances daily life while also gaining an asset that will have high returns in the future. One is able to build the life one needs and wants without the interference or authority of another person. Thus, the real estate market is leaning towards property ownership rather than renting one.

 

Space for everyone

The idea of needing and wanting privacy and personal space was heightened during the pandemic. As much as staying with everyone strengthened familial bonds, the value of ‘me-time’ and maintaining distance was also learned. Consumer preferences have shifted toward larger spaces that are designated to different activities as well as different members of a household. Even though the real estate prices for larger spaces are quite higher, there is a surge in the search for bigger rooms, larger kitchen and dining areas, gardens, and balconies. No one wants to compromise on having a spacious environment and a sense of luxury as well. There must be separate rooms for the children, separate rooms for work and study areas, and separate rooms for recreational zones. It is about upgrading life itself and living it in the best way possible. Trustworthy companies, such as Godrej, have put their best foot forward in meeting such needs, and their apartment complex, Godrej Park Retreat, on Sarjapur Road in Bangalore, is one example of their many impressive projects.

A holistic approach to living

Initially, one would associate a home with relaxation, family time, sleep, and home-cooked meals. It was a place of solace and, at times, escape from the outside world. But now, the definition has been altered. With the advent of the internet and the pandemic that kept everyone at home, a home is much more. The ‘work from home’ lifestyle and online classes have become game changers in the real estate market. So creating spaces that are allotted for each task is the need of the hour. Health and fitness are also being relooked at completely. Individuals now prefer a home that has all the facilities that one needs to be healthy and highly productive. Homeowners also seek out facilities and services close to their residence like parks, gyms, swimming pool areas, etc. The real estate housing market must offer homes that have designated areas for work, play, and relaxation and also a setting that encourages a wholesome living experience.

Making more room for technology

The power of the internet was at its peak during the pandemic. No matter what age or generation, everyone had a gadget, and everyone was online. Home offices, workstations, and online study areas were common in quarantine. While looking to purchase a new home, keeping in mind the technological aspects is a priority. The world of artificial intelligence and virtual reality has crept in and is only going to get bigger. Current trends shape many life choices, and now real estate trends have homeowners wanting a real estate housing market that thrives with choices that have the advantages of the tech world. Phones are not the only ones that have become smart. For example, lock and key doors are becoming old news, and smart doors with digital locks are in. Controlling other devices is made easier even without lifting a finger, but rather by raising your voice with commands to Alexa and Siri. Appliances like a refrigerator now come with Wi-Fi connectivity that lets you access the contents inside no matter where you are, a touchscreen interface, entertainment options, and much more. You will realise that your needs are not going unheard when you know that Godrej Splendour, in Whitefield, Bangalore has fashioned an ambience where nature meets the future in the most beautiful way.

The pandemic taught us that so much can be achieved even from home. One could learn a new skill, teach others new skills, get a degree, teach degree courses, get a new job, or even start a new company. The fact that these massive tasks can be accomplished from a bedroom or living room has altered the residential real estate market to provide homes that equip one with everything to conquer the world. Reputable brands like Godrej have introduced properties that cater to these post-pandemic needs through different projects across the country, namely, Godrej Exquisite, Thane, and The Highlands, Godrej City, Panvel in Mumbai,Godrej Nurture, Sector 150 in Noida, and Godrej Connaught One, Connaught Place in Delhi, among many more. 

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