Embracing The Real Estate Boom
CULTURAMA|October 2021
While the pandemic may have initially slowed the real estate dreams of buyers and developers, the trend is seeing a dramatic surge in recent times. Sowmya Putran looks at why it is worth investing in real estate now, more than ever
Sowmya Putran

Real estate's popularity as a stable asset increased perceptibly amidst the COVID lockdowns. Investment in real estate today needs a new strategic approach than purchasing a house for personal use. A CII-Anarock COVID-19 Sentiment Survey showed that almost 62% of the people surveyed considered it expedient to invest in a house right away. The study-from-home and remote working culture have resulted in buyers seeking larger homes, even if it entailed shifting to second- or third-tier cities. Also, the 48% of respondents opting for real estate as an asset class are the millennials compared to 17% before the outbreak of the pandemic.

For most people in India, a home is a once-in-alifetime purchase and buyers generally are very open-handed when it comes to shopping for their dream abode. With migration as the core idea behind job search and life in bigger cities, realty saw a boom in the past two decades and is likely to flourish in the coming years as well.

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