From Delayed Projects to Spacious Living: How India's Housing Market is Changing Post-COVID

The COVID-19 pandemic slowed the rollout of numerous real estate projects, with many launches pushed out by over 1.5 years. As we approach the end of 2024, these delayed projects are finally entering the market, driving a noticeable increase in residential supply across India. According to a recent Magicbricks report, supply has risen by 2.8% quarter-on-quarter—a reflection of pent-up projects finally seeing the light of day.

But supply is only one side of the story. The pandemic has fundamentally shifted homebuyer preferences, with more Indians opting for spacious homes. Data now shows an uptick of at least 3% in demand for homes sized above 2000 sqft. This shift reflects a growing appetite for comfort, flexibility, and space, particularly as more individuals and families adopt hybrid work models that make home an even more central part of daily life.

This leaves us with an intriguing question: Is this increase in supply, along with the trend toward larger homes, a temporary post-COVID effect? Or are we witnessing the start of a new era in the Indian housing market, where space and availability are the top priorities?

As we monitor these evolving trends, it’s clear that the demand for both more and bigger homes could shape the trajectory of the residential market well into the future.

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