How COVID brought a change in the buying behavior of real estate customers?

June 12, 2021

COVID-19 has brought various changes in the personal and professional lives of people which will become a habit of the Post-Covid world also. This brings a huge change in the scenario of the Real Estate industry.

What brings this change?

  1. The ‘Work from Home’ scenario
  2. Increased awareness in health
  3. Economic factor
  4. Effect of lockdowns
  5. Technology as the new need
  6. Increase in online shopping

What is the new trend in Consumer’s Demand?

  • A shift to Non-Metro cities – People used to go to metro cities for work. But with the ‘Work from Home’ and home schooling scenario people can work from anywhere. There is no need to travel to the office or school on daily basis. So now people have a choice to live in their domicile state which is in nonmetro cities. Metro cities are densely populated and are more prone to spread infections. People now prefer to live in an area that is nonpopulated and equipped with all the facilities and technologies. Since peripheral areas are less populated, demands in those areas will increase as there is less transportation needed due to the Work from Home and Home Schooling scenario. Homes with unobstructed views, recreational facilities, landscaping, etc are getting popular now.
  • Avoiding lift equipped homes – Due to the confined area of a lift which is closed while operating, people also prefer choosing stairs which will again create a demand for low rise buildings.
  • Adherence to COVID protocols – A society that can provide not just security but also COVID safety is being preferred these days.
  • Rise in demands of affordable housing – Due to the lockdowns, economic factors also came into the scenario. Some people are losing their jobs and some are given less salary. Some businesses are shut for hours. As a result, affordable housing is the new future.
  • Home Ownership – Home ownership is now become the priority. Rental places are less trusted these days. People prefer to stay in their own homes instead of a place where there has been a constant flow of different people to avoid health-related issues.
  • Ready to Move-In Homes – The demand for Ready to Move-In properties is going to increase due to the lockdowns.
  • Dependency on Digitization has increased – There has been increase in digitization of real estate with significant growth in online demand, as developers and buyers adopt products such as virtual tours, drone shoots, video calls, and online booking platforms. While physical site visits will remain important but at very end stage. Buyers are using technology to discover and book properties.

Shubhashray covers your future needs…

Most of the Shubhashray projects are in the peripheral areas of metro cities. Our projects are less densely populated with all the basic amenities inside them. We give plenty of recreational, sports and other modern facilities there. We have plenty of clean, green, and open areas in our societies. Most of the Shubhashray projects are up to three floors making it easier to climb stairs with minimum touching points. Our societies follow COVID protocols like compulsory mask wearing for entering the society, society sanitization by the company, hand wash facility at the main gate, etc. No stranger is allowed and all deliveries are received at the main gate only.

Apart from that, Shubhashray collaborated with several banks to provide a loan to the buyer under the scheme of Pradhan Mantri Awas Yojana and Mukhya Mantri Awas Yojana to make the houses more affordable. The subsidy is provided up to ₹2.67 Lacs to the buyer according to their income. We provide on-call maintenance services to our residents. We also provide a Virtual Reality tour of our projects to the clients so that they can decide the potential place of living before visiting the site which saves their time. We have adopted several other digital benefits also wherein our customers can book their dream home online.

So, Stay Safe! Stay Healthy! Be Tech-Savvy with Shubhashray Housing India…

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