When it comes to investment, especially as an asset, young Indians are moving away from traditional investment choices like gold and stocks. They are looking forward to real estate.
When it comes to real estate, the main focus is residential real estate. The reason why residential real estate became a stable asset class is because of two reasons.
One, it gives assured and steady returns, and the second reason is the COVID-19 pandemic.
Unlike the real estate market of the past, the present demand is an alternative to living in an insecure rental apartment. These properties not only affect the budget of the family but also give no security.
The pandemic induced restrictions forced many companies to initiate work-from-home to conduct their daily businesses. As a result, homes became the new workstations for many, and a home’s socio-mental-emotional impact increased.
As a result, more and more people started to invest in a permanent address and fulfil their need for a dream home. At the same time, HNIs and NRIs consider real estate as an investment with stable and assured returns.
The residential real estate developers seem to have caught on to the trend, as more and more real estate developers are developing their properties on the outskirts of the cities.
The benefit of city outskirts is that the prices are low, creating low rentals, and are outside city limits. At the same time, residents are away from urban congestion and at the same time, they can access urban amenities easily.
Within the apartments, the developers are redesigning the layout with a space reserved for workspace for the work-from-home demanders. They also make sure that these residential areas are self-sustainable oases, equipped with state-of-the-art amenities.
These amenities range from a gym, swimming pool to a play area and gathering areas. Other factors that determine the buyers’ choice are the aesthetic design, location, hygiene and health services the apartment spaces offer.
If the developers are ready to have an emphasis on eco-friendliness, with an additional touch of greenery then it will attract more customers, especially for those who look at these properties as a place for workcation and staycation.
With customer centricity gaining traction, developers are developing their properties based on the customers’ demands. Developers even offer apartments as complete open floors, so that the customers can redevelop their future homes as per their tastes.
These apartments are now becoming a trend in this field. Another field of concern among the customers is health and wellness. If that concern is addressed, then that is the show of robust facility management by them.
This will make developers transparent, trustworthy and punctual on deadlines and services.
These kinds of properties with workspaces are gaining more and more customers since the pandemic. It is also becoming a popular asset class and shows the potential of Indian real estate in the post-pandemic world.