From the hills of Himachal Pradesh and Uttarakhand to the beaches of Goa, Covid-19 is pushing HNIs to invest in second homes. But some believe the trend is nothing but gimmickry.
99,416 homes were sold in India between January and June this year, and nearly 27% of the sales were during the peak of the second wave of Covid-19 infections.
Anarock Property Consultants says housing sales in the top seven cities in India cumulatively recorded a 29% jump in the January-March 25 period, on a y-o-y basis.
Covid-19 has given rise to a convergence between “luxury real estate” and “quality of life,” where the two are now seen as being synonymous. People now want houses with more facilities.
The rise in home sales across the country is because of historically low home loan rates, and discounts being offered by developers. And consumers are opting for bigger homes with a study room.
Anarock Property Consultants says housing sales in the top seven cities in India could cumulatively record a 35% jump in the October to December quarter, on a sequential basis.
