The latest research report by Square Yards research titled “Evolution of Home Buying Trends in the COVID Era-Data Insights by Square Yards”, gives you an insight into how COVID led to certain subtle yet impactful changes in home buying trends that will alter how homes will be designed in the future.
While home ownership has gained prominence in the post-COVID era, demand for a home office or study, larger and more spacious home with enhanced facilities are also on top priority now for home buyers.
Larger residences are in demand more than ever with nearly 70% of the online searches on Square Yards inclined towards larger housing units. Another prominent trend that has emerged post COVID is the need for an added room such as a study or home office. As per the report, a study/home office has become a must have for 48% of the post-COVID home buyers.
The report threw light on the fact that even though liquidity crunch and unstable economic scenario restricted property buyers from investing large, there is an aspiration-driven demand brewing in the housing market backed by the need for larger and upgraded residences post COVID. This was visible from the fact that more than 30% property searches in 2020 were aligned towards properties priced above es 1 Crore. However, the sales figures for Square Yards reflected maximum conversions for affordable and mid-segment housing priced between Rs 30-60 Lakhs.
Read the complete report for more trends and insights. Click here to download the report:
