Consumer demand modification has led to a rise in demand for larger homes. People living in rented accommodations have faced a lot of issues and have decided on buying their own house.  

The importance of real estate, especially residential segment, is brought up due to global pandemic. Although people were buying houses in pre-COVID era, the pandemic has elevated the interest in self-owned homes among youngsters and millennials.  

According to reports, housing sales improved 13% in the first three quarters of 2019 combined as against the corresponding period in 2018, and by 23% in that period two years ago.  

During the pandemic there was an enhanced realisation of the importance of a real estate as an asset. The realisation meant that the prediction of losses in real estate sector instead bounced back within months. The sales reached pre-COVID levels within a few months of the first Unlock.  

A report by ANAROCK in September 2020 revealed that the Indian housing sector made a strong comeback in Q3 2020, with sales and new launches rebounding to 65% and 79% of the pre-COVID-19 levels (Q1 2020), respectively.  

Another pandemic-induced change is the demand for larger spaces that are 3 BHK and up, has risen since the pandemic hit India. With people stuck at home, they need more space for office work, studying or daily activities.  

Furthermore, nuclear families are considering about their needs that will arise in the coming years; so, they are looking for spacious units. The contribution of low home loan interest regime is also boosting the buyer sentiment.