The Changing Parameters of the Real Estate Market

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The beginning of a new decade and the year 2021 was welcomed with open arms. The dreams and hopes of people also started getting nourished. As the whole world is suffering from COVID-19, most people have adapted to the new culture. The new culture has taught people the importance of owning a home as it’s being considered as the best asset. Many research centers and institutions conducted recent surveys that stated the emergency needs of potential home buyers as they focus on investing in the real estate market.
In this article, we will discuss the changing parameters in the real estate market in 2021.

The Demand and Popularity of Homes is Rising Amongst Millennials

Most of the millennials between 26 to 36 years are realizing the importance of home. This is because the COVID-19 pandemic has taught them a good lesson about how uncertain life can be. Hence, they have started to make wise life decisions as well as investment decisions in the real estate market. They are also leveraging the benefits of ownership instead of renting an apartment. During the lockdown stages, many people were stuck at home to maintain social distancing. Hence, they started valuing a spacious and comfortable home.

Real Estate is the Best Investment Option

Before lockdown was introduced, everything was normal. However, the coronavirus taught us that real estate is the best investment available in the market. Many people were investing in gold and stocks. However, the price of both fell after the world suffered from coronavirus. The value of only one thing remains unchanged and that is 1 BHK for sale in Mulund East. Even though the popularity of real estate decreased as people were losing their jobs and suffering from financial problems, but the value never suffered.

1 BHK Flats Have Become a Priority

Nowadays, spacious living is not a luxury but an essential thing to choose. A comfortable and spacious life is becoming one of the most important parts of a healthy lifestyle. Many people are purchasing luxurious and large homes as they are being considered as one of the most essential amenities in the lives of today’s homeowners. Before the lockdown, not many people were interested in owning 1 BHK flat for sale in Mulund East. However, the demand and supply of 1 BHK flats have increased rapidly post the pandemic. Many buyers are avoiding 3 BHK flats as they require extra maintenance. They also believe that purchasing a 1 BHK new construction in Mulund east will help them customize the room to perform activities without any restrictions.

The demand for Trusted Developers is rising

A survey proved that most potential home buyers now prefer branded and trusted developers, owning to the reliability, promise, and timely delivery of top-quality constructions. The ratio of branded to non-branded developers was 52:48 in the pre-pandemic period. But the ratio is 61:39 in the post-pandemic period.

People Now Demand Larger Homes

Even though people preferring 1 BHK flat in Mulund east, but the owner of 2 BHK flats is upgrading to 3 BHK or 4 BHK flats. Almost half of the people are now focusing to live in a cozy space. Many buyers are also making smart homes.

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