Buyers are now exploring the likes of Kasauli, Panchkula, Alibaug, Panjim, Lonavala, among others.
When it comes to how the realty sector has changed over the last one year, several trends come to mind: people are looking at buying larger homes, they are including home offices in the blueprint, and workcations are the new normal. Another trend gaining traction is that of people buying vacation homes.
While the concept of a second home is not new, these homes are now being bought in India’s smaller towns and for the purpose of staying and working from there for longer periods of time. But is it just the work-from-home (WFH) scenario that has prompted buyers? Amit Agarwal, Co-Founder and CEO, NoBroker, says that the return on investment is another motivation. “Property prices have reduced in the wake of the pandemic and home loan interests are at an all-time low. People who buy a home now can enjoy significant capital gains on their investment in the long run and rental income from second homes can also be a strong addition to one’s overall income,” he says, adding that a recent survey on their platform indicates that 82% of people are looking to make a purchase in 2021.