Covid impact – demand surged for spacious apartments

Created on: 14th June 2021

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In real estate, it is often said that 'location is everything'. This sentiment was true a decade ago when homebuyers did not wish to move beyond certain neighbourhoods and their address was an indicator of a better quality of life. With changing times, growing economy, and rising uncertainty the home buying factors have changed from location to budget, value proposition in terms of lifestyle, apartment space, connectivity, infrastructure, and external amenities became more important.

As life progressed, the homebuyer also evolved and started looking for apartments that have a separate living and dining area, bedrooms with attached bathrooms, sleek modular kitchens that have enough room for a dishwasher and a dry area. The customer was ready to move beyond their comfort locations if the space enhanced their lifestyle.

Although, home buyers were always aware of these factors, then, it was more of a luxury than a necessity. Unless it was urgent, home buyers would prefer to wait for an opportune time, rather than rush into a purchase. However, with the pandemic, consumers have realised the importance of a spacious home that meets their essential family and lifestyle needs such as a gated community with amenities.

Oberoi Realty – Known for large premium spaces

After spending months in confined spaces where people struggled to live, work, play and learn from their homes the need for large apartments with ample space and balconies surged, along with this, projects that are a part of integrated development and provide state of the art lifestyle amenities such as a swimming pool, tennis court, squash court, kids plays area, gym, etc. gained significant importance.

At Oberoi Realty, every business decision is taken keeping in mind the customer’s benefit, comfort, and needs. Post the lockdown, last year we witnessed huge demand for all our projects from ready to move, to under construction and mostly for large apartments, duplexes, and penthouses. We have a diverse project portfolio from single boutique projects to large integrated developments at various stages of construction and ticket prices across the Mumbai skyline.

We recently launched two premium residential projects-Elysian at Goregaon East and Sky City at Borivali East and received an overwhelming response from the customers to both projects. Before the launch, we did an in-depth analysis on customer demand, preferences, and requirements and realised that the customers are clearly looking for bigger apartments that takes care of all the needs of every family member, a working couple who needs a zoom room, kids to who needs a virtual classroom, personal space for senior citizens for their privacy and comfort. Luxury became a necessity as customers realised the importance of quality of life.

The project “Elysian Tower A" has been registered via MahaRERA registration numbers: P51800027667 and is available on the website is under registered projects.
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