Work From Home Decreased Demand for Real Estate??

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Work From Home Decreased Demand for Real Estate
Work From Home Decreased Demand for Real Estate

Work From Home Decreased Demand for Real Estate?? Before the pandemic period of covid-19 studio apartments demand among the consumers is dropped.  Year-on-year decrease in the net stock of studio apartments in real estate projects since the pandemic increased, due to the increasing share this product portfolio boasted of till 2020 fiscal year.

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Seven years before 2020 saw the share of studio apartments in real estate projects increase from 4% in 2013 to 19% in 2019. Post-COVID, with work from home becoming the norm, demand sank 10%, with the first half of 2022 seeing just 9% share for small spaces in pricey neighbourhoods.  Chennai, Bengaluru and Hyderabad accounted for just 34 projects with studio apartments in the seven years before COVID.

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As per the company officials, “The studio apartment configuration-single rooms serving as a bedroom and a living room with a kitchenette and an attached bathroom-was among the most popular configurations before COVID-19, What studio apartments lack in size they often make up for in terms of location, especially given the number of studio apartments in pricey locations around key employment hubs.”

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