* 2X growth in searches for 4BHKs and above due to WFH
* Affordability is the buzz word for real estate in 2020
With Work From Home (WFH) emerging as the new normal due to the outbreak of the pandemic, the desire to have an extra room double resulted in doubling of searches for 4BHK and above during the Pandemic year, reveals How India Searched for Homes During The Pandemic Year 2020 – A Report by Magicbricks.
How India Searched for Homes During The Pandemic Year 2020 also reveals that most searched cities for homebuyers were Pune, Bengaluru, Mumbai and affordability was the key to all house hunts.
As per the Magicbricks report: 57% of buyers wished to invest in Multi-storey apartments and on a micro-level Gurgaon witnessed almost 73% individuals seeking for 3BHKs or more. The top 5 localities that buyers were looking for in the rental category were: Noida Extension, Whitefield- Bengaluru, Andheri West- Mumbai, Sarjapur road- Bengaluru, Saket - New Delhi.
In the South, 40% of the buyer searched for Independent houses/plots and people looked for meditation centres as key amenity in societies. From a lifestyle point of view, highest searches for veg only properties came in from Ahmedabad.
It is enlightening to see how Indians have evolved through their home buying/renting journey and what key factors have influenced the final decision.