The COVID pandemic caught the entire world off guard and drastically altered the dynamics of life as we knew it. For our own safety, lockdowns were implemented, and people were now forced to stay indoors and maintain appropriate social distancing. The calming down of the pandemic and easing of restrictions have meant that humankind has leaped back with renewed vigor.
The residential real estate market had taken a hit with the pandemic and lockdowns and was on a downward swing. However, things are changing, and the industry is on a rebound, and there are favorable signs of it picking up. The pandemic brought people’s attention to owning their homes, and today there is a distinct upswing in the residential market.
There is currently a growing number of individuals considering investing in residential real estate, many of who are first-time buyers. A vast majority of these are millennials, who in the midst of the pandemic, recognized the utility of owning residences. Being confined to their homes during the pandemic brought to the fore the importance of space and privacy within residences.
Millennials comprise a major chunk of the individuals that are today considering high-end, elite, and luxurious residential real estate investments. The work from home culture that resulted because of the pandemic has also spurred a large number of residential investments. Flexi working, a blend of working from office and home, is now the norm, giving buyers more incentive to invest.
The future of residential real estate is bright as more and more buyers are moving toward investing in high-end projects. Excellent design, planning, and construction of projects using the most modern and cutting-edge techniques are luring higher numbers of investors. Residential developments are also offering a vast array of world-class amenities and facilities, which are also effectively attracting potential homebuyers.
Prestige Group launch a new apartment is Prestige Primrose Hills.