Reverse Migration To Spur Housing Demand
Indian real estate is expecting a very novel post-COVID-19 world. A significant trend may be the reverse migration in Tier 2 & 3 cities spurring housing demand. Seven cities make up almost 70% of India’s residential market, with the remaining 30% accounting for Tier 2 & Tier 3 cities. This ratio is expected to change in times to come. Cities like Indore, Lucknow, Chandigarh, Coimbatore, Kochi, Ahmedabad and Jaipur will be the primary beneficiaries of reverse migration of professionals who lost their jobs to the pandemic or are likely to do so. These people will benefit from the cost of living and superior infrastructure that Tier 2 and Tier 3 cities provide.