This COVID-19 has drastically changed the era of the real estate market as it is changing the homebuyers’ preferences in terms of purchasing the homes to accommodate new market realities. Many future homebuyers and even the millennial are transforming their mind-set for shifting to the peripheral areas for bigger homes and a better lifestyle – at more affordable prices.
As per the research companies looking to have 15-25% of employees working remotely, future homebuyers or even those living on rent will explore peripheral areas for a better lifestyle at lower costs. The trend is gaining more popularity with millennial, or essentially those in the age group of 25-40 years.
Apart from changing real estate consumer preferences in a strengthening Work from Home environment, purchasing an affordable home is an on-going concern especially to the backdrop of an ailing economy and job loss/uncertainty. The outlying areas are more affordable both from a rental and purchase viewpoint. For this, now, more and more developers should settle on a bigger unit size of apartments to make them affordable and attract the millennial homebuyers because with the rise of the WFH culture, many may now prefer to live in more spacious and cost-effective homes in less central areas. Pacing with changing needs, Signature Global has come up with several projects in Gurgaon including Signature Global Superbia in sector 95 and Signature Global Park in sector 36, Sohna, South of Gurugram .
Mr Pradeep Aggarwal, Founder & Chairman, Signature Global Group, Chairman, Assocham, National Council on Real Estate, Housing and Urban Development, says, “Affordable Housing has come out to be as a boon to the millennial homebuyers, they can easily afford the bigger homes of their own without digging a hole in their pockets and make a better lifestyle as this is the most prominent new residential real estate trends of the COVID-19 era.