After the Covid pandemic two years ago, the real estate sector is slowly gaining momentum. Though sales have picked up to the extent before 2019 levels, people are searching for homes – both apartments and independent houses – of bigger sizes. Real estate businessmen in Hyderabad say that the public now prefer homes with above 1,200 sft with three bedrooms and more.
“Even middle-classes are now readying to buy bigger homes which may exceed their earlier budgets because of the bitter experience of Covid which made them realise their congested homes currently,” says B Krishna Reddy, a construction business in Uppal area in Hyderabad. Earlier, there was more demand for homes with 1,000 sft as they fit their finances.
So is the case with independent houses or villas in gated communities. Till two years ago, people preferred houses within the price range of Rs 50 – Rs 70 lakh, but now are showing interest to buy bigger assets, though it costs more than Rs 1 crore. As banks are offering cheaper home loans with interests around 8 per cent or less, the demand for housing is picking up.