Skip to main content

Demand for holiday homes gains traction amid pandemic

 As the pandemic has significantly impacted the operations of businesses and people's working model, housing preferences also have changed and the demand for holiday homes or second homes has increased in the past few months. 

According to Aditya Kushwaha, CEO & Director Axis Ecorp, the need for a perfect balance between work and personal life has fuelled the concept of a weekend retreat in a holiday home.

"Due to the COVID-19 pandemic, the concept of a holiday home or a second home has gained widespread acceptance. With most of the corporate professionals working from home, geography is no longer a constraint," he said.

He also noted that from the investment perspective, second homes in non-metro cities are a relatively safe investment option with higher capital appreciation compared to homes in metros, especially during COVID-19, when alternative options such as mutual funds, shares have seen diminishing returns.

These properties can be rented out to home-stays and tourism businesses, a booming market promising an assured and stable source of income to investors, Kushwaha said.

He noted Axis Ecorp has witnessed a rise in demand from NRIs and has around Rs 50 crore worth of stock at its project 'Axis Blues' in Goa since the lockdown was announced in India.

On the impact of the pandemic and the lockdown restrictions, he said that lockdown impacted the development and expansion plans of various players as most of the people were locked inside their homes and companies adopted work from home to keep their employees safe.

"However, with the implementation of unlock, things are slowly coming back on track. Companies and developers are adapting to the new environment," he said.

He observed that the nationwide lockdown imposed in March severely impacted the new launch activities as there was a shortage of laborers and supplies initially. However, a major component of workers stayed back and continued working, there was a ray of hope to complete projects.

He said that the company expects sales at its Axis Yog Villa to reach Rs 70 crore by the end of next year.

Labels:

Comments

Post a Comment

Popular posts from this blog

Twist in the Plot: Rising Demand for Land Following the Pandemic

The real estate segment showed exceptional tenacity in the year 2020, and it continues in 2021 as well. Last year witnessed an unprecedented patch during the lockdown but as soon as things started to open up, the segment clocked a great rebound. The residential segment has been the key driver in this rebound phase.  An interesting trend that has emerged from the pandemic is the rise in demand for residential plots.    What is driving the current demand for plots? Residential plots were always a top-of-mind option for homebuyers as they offered a number of advantages. However, due to cost considerations and other factors, most homebuyers opt for apartments. According to a report by Square Yards research, the demand for plots increased by a whopping 50 per cent in Oct-Dec 2020 as opposed to the previous quarter.  This pandemic has given homebuyers ample opportunity to weigh in their choices and now more people are inclined towards a plotted property. As per a FICCI-AN...
Post a Comment
Read more

Why It Is Always Better To Buy a Brand-New Home

The debate over whether one you should buy a new home or a resale property is an old one. Many homeowners remain particular about buying only new properties. If you are stuck between a new and resale property, here’s a pros and cons list to make your choice easy for you.   Weigh your benefits One of the biggest advantages of choosing to buy a brand-new home is that you have a world of options available for you. From a luxury serviced apartment in Goa to a stand-alone villa nestled amid nature’s beauty, there are many choices available in the market and you can choose a new home based on your preferences without having to compromise. Today, new homes are being built with sustainability, energy-efficiency, and smart technological standards in mind. While a resale property may be in good condition, the latest advancements of technology are unlikely to be included in older properties. New homes are optimised for the end-user. The use of latest fixtures, top-of-the-line fitti...
Post a Comment
Read more

Tips To Safe Villa From Illegal Occupation

Property encroachment or illegal occupation is something that almost all of the absentee owners generally suffer from that. The reason is pretty obvious because owners are not there. We can see the complaint of hundreds of cases of illegal occupation registered on the court. So, you must always be aware of how you can make the villa safe from encroachment. Here we listed some valuable tips that help to understand to keep your villa or property safe from illegal occupation- •Check and updated your all required documents relating to booking of the Villa or any property. •Before putting anyone in your villa or property , you must make a proper legal contract defining his status so that the situation of illegal occupation doesn’t happen. • If someone has encroached your villa, do not take time to report it immediately to the police. • If you are not living in villa, do not leave it unoccupied for a long time, just rent it out. • Hiring caretaker is a great option, if you can’t vi...
Post a Comment
Read more