Property Rates Faces Fluctuation Post Covid

New Delhi: The average monthly rent for community housing, including student accommodation, has fallen 10-25% in key areas since the spread of COVID-19, according to real estate consultant Colliers India.

Colliers India, in its white paper "The Future of Sharing in India", noted that bedding fell from 2 million last year to 1.3 million to 1.4 million in 2020, when the share drops to 40 -60%. He pointed out that rents have fallen 10 to 25% since COVID-19. By 2021, shipments had returned to more than 2.1 million beds and the share had increased to 70%.
“The concept of a 'joint venture' was put to the test at the end of the broadcast. "Changes in the quality of life in the community were immediately halted due to economic uncertainty, including unemployment, poor communication and migration of migrants to their homes due to the outbreak of COVID- 19 ", the statement read.
Looking ahead to next year, Colliers said work would see a resurgence with the office reopening, vaccine collection and colleges reopening. The number of beds could increase to 4.5 million by 2024.

“While the situation has improved rapidly, the economy has recovered and appears to be more promising. One of the main benefits of resuming is increased vaccinations. “Unemployment rose to 7% in November 2021, gradually rising from 11.84% in May 2021. In addition, during the spread, employment by IT companies has followed faster and better performance in these areas. . months will meet the needs of life.

Colliers India MD (Advisory Services) Subhankar Mitra said that the number of student hotels and cohabitation has increased during the period 2015-2019, resulting in an increase in the number of student jobs and investments. 

Mitra said operations are now preparing to enter a new phase of development driven by factors such as grievance resolution and product remediation. Community integration is mostly done in major cities and Tier 1 cities in India, with an expansion seen in Tier 2 cities, according to the report. The main characters in this place are Colive, Stanza, Zolo, Hosur, and Nestaway.

New players continue to enter this position as they are always more profitable compared to the rental equipment. Products are constantly evolving as new entrants experience specific information, services and support.