The Covid-19 pandemic came out of the blue and spread like a sheer wildfire, that none has ever imagined. It didn’t just our way of living but rather it has changed us as an economy. The impact of Covid-19 on various sectors is something that is known to everybody. The pandemic made not only just restricted our movements; it confined all of us within the four walls of our home. From working professionals to children, we all had to cope up with this new way of life of the greater cause.
From schools, colleges, offices to businesses, everything came to a halt. All these changes paved a way for a new professional culture called as Work from Home culture. What is work from home culture? Well even though it now most of us would have been aware of it. But to put it for people who are still figuring out this new professional culture, work from home is a concept wherein employees are allowed to work remotely, i.e. without physically going to the office, from the safety of their homes.
Moreover, keeping in mind the colossal benefits and the ease of work that this concept provides, it wouldn’t be wrong to say that this concept is here to stay. As work from home reduces the demand for physical office areas, employers are finding it better and think that it will also help them in saving extra money. In a recent survey, it has been found that 75% of employers are planning to increase the number of employees who work remotely in their organization.
This pandemic has undoubtedly presented a radically transformed real estate industry in front of all of us. This new work from home concept has drastically reduced the demand for physical office spaces but it is not only limited to this. As people have spent the last 1.5 years mostly staying at homes, their home buying preferences have differed a lot from what they used to be a year or a couple of years ago. One of the prominent real estate trends that are being quite popular even among the millennials is to buy a home rather than taking it for rent. People are giving precedence to more spacious and cost-effective homes that are mostly in the peripheral areas.
Houses with more open spaces, and which are bigger but should also be affordable, is what most people are seeking because of the rise in work from home culture. Since the pandemic has affected the economy to a greater extent and it is still recovering from the damage that has been done, affordability is an essential concern in the backdrop of an uncertain and ailing economy for people. Since the central areas of the city are mostly costly and smaller in size, peripheral areas are seemed to be the best option from both the perspectives of renting and purchasing.
If we look into the real estate prices in Bangalore we found find that there is a huge difference in prices when it comes to the areas that lie in the heart of the city to the residential plots that are in the peripheral areas. There is almost a 38% price difference between both the areas due to which potential buyers are being enticed towards these areas. Areas like Sarjapur Road, Kudlu Gate, KR Puram, Jalahalli, JP Nagar, Marathahalli, Banashankari, etc. come under the central areas of the city and areas like Electronic City, Varthur, Tumkur Road, Mysore Road, International Airport Road, etc. come under peripheral areas in Bangalore. If we compare the average monthly rental value of a 2BHK home in the areas that come within city limits to that of peripheral areas we will find that it is almost double the rent in the areas that come under city limits.
To Sum-up:
The post covid real estate sector has changed drastically and people’s preferences of buying a home have been affected a lot because of the changes that occurred during the covid phase. Now more and more people are considering owning a house for themselves and since the interest rates are also at an all-time low it is the best time to buy one house for yourself. And if you plan to finally get one for yourself don’t forget to check out Maxworth Realty India Reviews. Maxworth Realty Reviews will tell you the reason behind it. The years of experience can easily be seen in their work as well as in Maxworth Realty Reviews