How Has the Vadodara Real Estate Market Responded to COVID 19
COVID-19 has made people realise the need for a space to call their own. During lockdown, need for space became the topic of discussion everywhere. Many people in Vadodara who put their plan of buying their dream home on hold because of the pandemic, were soon looking for bigger residential spaces. The nationwide lockdown in 2020 forced people in metropolitan cities to move back to their home in tier 2 cities like Vadodara. Many people looked at the opportunity to work from home like a silver lining. An escape from the chaos, pollution and cramped spaces in tier 1 cities.
Reputed builders in Vadodara noticed the sector steadily picking up in the second half of 2020 and real estate companies in Vadodara saw a rise in sale of their respective home units.
- There was a noticeable demand for homes in Tier 2 cities, leading real estate companies in Vadodara 3X growth when compared to 2019.
- Among other cities, Vadodara has also experienced more than 80 percent of growth in residential spaces. This shift is seen after a majority of the workforce was pushed to move back to their homes. With almost every company adopting the remote working culture, rise in residential property in Vadodara will continue in the upcoming years as well.
- Since work from home has become the new norm since 2020, this has also driven people in tier 2 cities like Vadodara to upgrade their home. This shift would give the entire family access to dedicated spaces for every activity like work, school and leisure.
- Real estate companies in Vadodara like Alembic Real Estate have noticed a demand for bigger homes, which includes a dedicated workspace away from the rest of the house where you have no distractions and can double the resident’s productivity.
- With social distancing and staying indoors still being the norm, it has become important for families to plan better spaces for themselves and their children. With bigger and better homes, children can have their indoor activity areas to unwind after attending online classes.
With this notion in mind, Vadodara, among other tier 2 cities, has noticed a 59 percent growth for homes in the price bracket of less than Rs. 50 lakh. Virtual platforms of top builders in Vadodara like Alembic Real Estate have made it easier for investors to explore premium residential properties across the city. Alembic Real Estate is one of the leading real estate company in Vadodara and offers premium residential properties at prime locations in the lap of nature. Every project offers luxury, convenience and security.