Real Estate

Houses in city fringes in demand after Covid-19 outbreak: survey

Our Bureau Pune | Updated on November 18, 2020 Published on November 18, 2020

Work from home culture has helped spread demand more evenly across cities and suburbs

In pre-Covid-19 days potential homebuyers were researching best localities to buy a house near their workplace. But data from real estate platform NoBroker.com shows how this demand trend has changed since the onset of the pandemic.

Earlier, proximity to workplace took the topmost spot among homebuyers’ considerations. But ever since the Covid-19 outbreak triggered the new normal and work from home became the norm, the demand in areas other than the ones located near IT hubs has been increasing.

Also read: Home affordability at a 9-year high: Gera Pune Residential Realty Report

Work from home

“In the wake of the pandemic, many companies have mentioned that their employees would continue to work from home until June 2021. Consequently, homebuyers are looking to buy properties that are not only more spacious but also located in less populated areas, irrespective of their distance from the workplace” the survey by the NoBroker.com reported.

Also read: NoBroker to hire 130, to support demand spike

Saurabh Garg, Co-founder and Chief Business Officer of NoBroker.com said in a press statement, “The work from a home culture has helped demand spread more evenly across the cities of Bangalore, Chennai and Hyderabad and suburbs are seeing a surge in demand. This is a good change as it has helped price correction in a couple of localities and people do not have to compromise on space, size and locality in order to stay close to their workplace”.

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Published on November 18, 2020
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