Pandemic has cause disruption in people’s daily lifestyle, businesses and working their model. It had also changed people’s housing preferences and therefore, this year, especially the past few months, witnessed a sharp rise in the demand for holiday homes or second homes.
As per an IANS report on Saturday which cited Aditya Kushwaha, CEO & Director Axis Ecorp, said that the need for a perfect balance between work and personal life has fuelled the concept of a weekend retreat in a holiday home.
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. 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 added.
As per the report, 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 lockdown was announced in India.
He further said that the lockdown impacted the development and expansion plans of various players. “However, with the implementation of unlock, things are slowly coming back on track. Companies and developers are adapting to the new environment,” he said.