The demand for house sites and residential flats is on the rise gradually in tier-2 towns and cities. The trend increased after the pandemic situation. Prior to Covid-19, the trend was against the demand for properties in tier-2 towns and cities. Because of lockdown, subsequent work-from-home offers of employers, remote working facilities have pushed up the demand for properties in Warangal, karimnagar, Visakhapatnam, Guntur, Kakinada.
Similarly, towns and cities like Mysuru, Coimbatore, Nagpur, Hubli, Belgaum, Panjim, Ahmadabad welcomed real estate investments. Because of their close resemblance to metropolitan cities, the prices of properties have increased there, pushing up the cost of living there.
Another crucial aspect that influenced real estate sector was digital house searching. Those who cannot physically visit the site welcomed it. It includes people like the NRI investors. Real time video screening, 3-D model are saving precious time of buyers. These technological advances proved beneficial to property buyers as well as the developers. Using the technology, buyers are inspecting properties in Hyderabad sitting in a nook and corner of world. That is why the demand for outskirts has increased.
