Post-Corona virus what buyers are likely to look for in a property, when they come back to the market after the COVID-19 pandemic
RERA Licensed Real Estate Agent in Hyderabad
The Corona virus pandemic is likely to bring about a sea change in the future of residential real estate in India. As nations announced sudden lock downs to stem the numbers of infections, the impact of these measures may be particularly telling on the rental population, who may be forced to change their non-committal approach towards home ownership. The question now is: What will buyers look for in a property, when they come back to the market in the post-COVID-19?
Buyer preferred localities post Corona virus after the lockdown
While some city localities could be more vulnerable to the spread of COVID-19, because of its population density, poor living conditions and lack of accessibility to healthcare, others may have better facilities and hence, be resilient against such disasters. As awareness towards their own wellbeing grows among people, this will reflect in people’s home-buying choices and preference towards various locations. Housing projects in suburbs that have less population density and more green spaces, will have more takers than projects in the city centre with higher population density. This change will also reflect in pricing.
Post the Coronavirus pandemic, property seekers are likely to prefer larger homes with recreation amenities within the housing complex. Localities along the peripheral areas of major cities, which have lesser population density and more green and open spaces are likely to witness greater interest from home buyers in a post-COVID-19. After the lockdown is over, we could see the real estate sector modifying projects, with amenities and services (such as walk-to-work and infrastructure that enables work from home) that help in providing a healthy lifestyle to the residents.
