In the post-COVID era, urban cities like Gurgaon, Noida, and Faridabad are witnessing a significant trend towards comfortable living and a safe, secure lifestyle. According to a recent survey by FICCI, at least 50% of respondents now prefer three-bedroom (3BHK) apartments, while 38% favor two-bedroom homes. This shift highlights the evolving preferences of homebuyers, driven by the need for a hygienic and spacious living environment.
Post-COVID Shift in Homebuyer Preferences
The COVID-19 pandemic has fundamentally changed how people view their homes. With prolonged lockdowns and the rise of work-from-home arrangements, the demand for additional space has increased. Families now seek areas for home offices, children’s study rooms, and recreational activities. A 3BHK apartment offers the extra space needed to meet these demands, making it a more attractive option for those looking for comfort and functionality.
Rising Need for Spacious and Flexible Living
Moreover, a 3BHK apartment provides flexibility for growing families, offering space for elderly parents or future children. This foresight is driving the preference for larger homes, as homebuyers aim to avoid the hassle and cost of upgrading or moving in the future.
The traditional joint family system in India, where multiple generations live under one roof, is experiencing a revival in urban areas. This change is driven by economic benefits and the desire for closer family bonds. A 3BHK apartment can comfortably accommodate extended families, providing separate rooms for privacy while maintaining a communal living setup.
Investment Perspective
From an investment perspective, 3BHK apartments generally offer better resale value. As the demand for spacious homes continues to rise, 3BHK properties are likely to appreciate more significantly, providing higher returns on investment. This financial incentive is crucial for middle-income homebuyers who consider the long-term benefits of their purchase.
Socio-Economic Progress and Aspirations
The recent surge in 3BHK and luxurious housing sales in Gurgaon reflects this trend. Real estate developers have launched 3BHK projects targeting the middle and upper middle-income group, with a 3BHK unit often seen as a status symbol and a reflection of one’s socio-economic progress. For many in the middle-income group, upgrading to a larger home signifies financial stability and upward mobility. This aspirational aspect plays a significant role in the decision-making process, driving many to opt for 3BHK units.
Real estate agencies highlight that 3BHK homes typically feature more spacious living rooms, larger kitchens, and additional bathrooms, contributing to a more comfortable and luxurious lifestyle. All the leading developers, such as Signature Global, have responded to this demand by providing spacious and premium housing units across key locations in Gurgaon, building strong relationships with homebuyers over the years.
Continuous Demand for Larger Apartments
Despite rising property prices, the demand for bigger apartments continues unabated and is, in fact, increasing. The survey reveals that the desire for larger living spaces is not only persistent but growing, underscoring a significant shift in homebuyer preferences in urban India. This trend is likely to shape the real estate market in the coming years, as more families seek homes that offer both comfort and future readiness.