Housing for All
Build a Dream House for All
“Real estate” is a term that many people have different reactions to. Some people might be immediately intrigued and ready to have conversations about local prices and international real estate happening; others want to run away from any mention of the term. Both reactions are valid!
Real estate isn’t as simple and buying, flipping, and reselling houses, like many believe. Some of the most important aspects of real estate are the housing trends in and around the land.
Cambridge Dictionary describes housing trends as “The type, cost, and the number of housing buildings (such as bungalow and apartments) available in a particular area.” This means that housing trends are directly connected to the popularity of the area. As more people move into the area, more funding goes into the area’s urbanization (which means more residential areas as well!).
As more people want to move into the area, houses that are not being used will increase in price. This means that real estate agencies will pick up on the changes and it becomes a trend or a predictable progression of a certain circumstance.
In 2020, due to pandemic housing stats were decreased to half than that of the previous year. Unfortunately, YES ! there weren’t many who wished to buy or build houses in the covid era. Statistics say that in seven major cities in India the housing units that were 2.61 lakh in 2019 decreased to 1.38 lakh that was half of the units.
The decreased demand in buying houses led to the lowest as well as best home loans and higher discounts and offers on houses that were already built and ready to buy and occupy.
As per Indian cities, many cities such as Bengaluru, Delhi, Chennai and Kolkata were affected by the pandemic more in housing trends than other cities.
Delhi witnessed the maximum fall in housing price as it fell more than fifty percent in the previous year 2019.
In Chennai, the values dipped to fifty percent in the pandemic, since the employers who were working in Chennaiand have their hometown in other areas were shifted to their hometowns due to lockdown and work from home.
In Kolkata, there was a forty nine percent drop in the price of housing due to the pandemic.
By the end of 2020, the rate of unsold houses rose to two percent all over the country.
Thus, with these statistics, we can conclude that the whole country collapsed in housing trends due to the pandemic. It is expected by the experts that the housing trends to be raised higher back.
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