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There’s a gold rush with several big names scrambling for a piece of the pie.
What are we talking about? Holiday or second homes. In a post-COVID-19 world, demand is steadily rearing its head in this segment, and your mother will tell you that where there's demand, there's a real estate builder waiting to set up shop.
Holiday home trends
🏖 High demand from affluent individuals/families, especially in hilly/coastal zones.
🏖 DLF is already planning projects in Kochi and Goa.
🏖 Eldeco is also planning similar projects at Goa, Rishikesh and Kasauli.
🌄 Uttarakhand is seeing sizable demand along with Himachal Pradesh.
🏔 Shimla, Kasauli and Dehradun top the charts along with Panchkula and New Chandigarh.
🎁 Several corporates are also investing in such projects for rewarding employees.
🧘♀️ Home buyers are investing for more tranquillity, social distancing, privacy, and all their preferred amenities in one package. Many entities/people may use them to earn rentals in future too.
What it means for developers
New channels of demand from wealthy buyers and even high-salaried households. Demand from corporates and other players. Opportunities to enter new markets.
Basically, something that sounds like Boom, Boom, Boom.