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The world has realized that the pandemic is going to change our lifestyle all together. The disruptions and negative effects of unwanted but unavoidable lockdowns are slowly subsiding.

With the markets reopening, the economy is also regaining its lost steam. The real estate sector, in particular, has benefitted from the effects of the Covid-19, and the trend will continue in 2022. While all the real estate segments have received an uptrack, reports suggest that the luxury segment would receive a phenomenal push in 2022.

Last year, the real estate market started on a glamorous note, but the emergence of the second wave robbed it of momentum. The real estate market was momentarily impacted while the country was dealing with a significantly more severe spread of Covid-19 cases. But, the sector bounced back almost immediately with a revived surge in demand. The sales velocity continued through the year and has helped the segment reduce its burden of unsold inventory.

Early this year, the new virus, Omicron threat emerged as a threat to the economy, and experts believed it would significantly impact the country and cast its shadow on the real estate sector.

However, it is rare to keep its growth acceleration constant. The reduction in cases and the learnings from the past waves had prepared the segment, and it has applied them to retain the buyer’s trust.

The premium real estate segment witnessed an uptick last year, and it is expected that the trend will continue in 2022.

Facts are as follows:

Lifestyle Upgrade: A major factor

Upgrading lifestyle amid the pandemic is a major factor that has propelled us all to opt for homes with better amenities. Luxury homes are closer to nature and provide a resort-like feel to the residents. Close to 46 per cent of respondents feel luxury homes are a necessity in the prevailing circumstances. The health advantages of living in spacious and green surroundings are prominent factors attracting buyers to luxury homes.

Widely traveled people and Millennials who have experienced luxury closely wish to live in houses that provide them uber-rich ambience. They are willing to give money on spending for premium luxury real estate for it promises an upgraded lifestyle in the city of their choice.