Why Buyers are Likely to Opt for Bigger Houses Next Year

Why Buyers are Likely to Opt for Bigger Houses Next Year

The pandemic has turned homes into offices. And with it, the way prospective buyers want their homes to be.

As the real estate sector is showing signs of recovery from the twin lockdowns, developers in the city have predicted that bigger homes and residential plots are most likely to be the preferred option among buyers in 2022.

Referring to the sales data for this year, many real estate consultants have said that queries in the city have increased by around 15% for apartments that are 3 BHK or bigger. There has been a 42% rise in buyers interested in bigger plots.

The developers said the trend among buyers was driven by work-from-home policies adopted by most companies. And in the wake of the concern around the Omicron variant, properties with health infrastructure and security around them will be the most sought-after.

According to a real estate research and consultancy firm, around 1.3 lakh residential units were added across the top seven cities in the country, while sales were clocked at 1.4 lakh units, including inventory. But 2021 witnessed an upswing. Between January and September this year, 1.6 lakh units were added in these cities and 1.4 lakh of them were sold.

Amarjit Bakshi, the CMD of Central Park, said, “The year 2021 is when the sector actually bounced back. The optimism will be carried forward to the coming year, with some trends gaining traction in 2022. Due to the pandemic, people have realised the need for having a distinct place inside the house for specific purposes.”

He said that since the pandemic hit the country, the demand for bigger houses — 3BHK and upwards — or those with balconies and natural ventilation — had increased manifold. However, the need is not restricted to having bigger homes only, but those that take care of residents’ wellness and provide them with ample green spaces, Bakshi added.

Sanjeev Arora, the director of 360 Realtors, agreed. “In Gurgaon, a large portion of the user comprises working couples. Most of them are working from homes, which is necessitating the demand for bigger houses,” he said. According to Arora, people were moving to relatively affordable areas such as the Dwarka Expressway, Sohna and nearby localities.

Source : TOI

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