Demand of spacious apartments spiking in top cities

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    Top six cities in the country have experienced a rise in demand for more spacious apartments such as 3 BHKs and 4 BHKs, industry’s experts have said, citing need for additional space, better investment potential, and the emergence of hybrid work culture.

    According to proptech company NoBroker, while 2BHKs remain the most popular choice among buyers, there has been an increase in the percentage of buyers looking for 3 and 4 BHK units.

    Data from the report shows demand for 3BHKs in Bengaluru at 39 per cent, Chennai at 37 per cent, Delhi NCR at 41 per cent, Hyderabad at 33 per cent, Mumbai at 11 per cent and Pune at 20 per cent.

    The demand for 3 BHKs (33 per cent) and 4 BHKs (8 per cent) across the major metropolitan cities has been growing since last year, and the trend is expected to continue, he added. Adding to it, Prasad said that the same group of homebuyers who were interested in 1 or 2 BHKs about 8 to 12 months ago are now exploring 3 or 4 BHK apartments.

    “We have seen a multifold increase in demand, especially for 3 BHKs post-Covid, across age groups, including bachelors, families, and youth. This stems from the realisation of the importance of owning a house,” reports quoted Akhil Gupta, co- founder and CTO, NoBroker.

    The rising inclination towards quality living has been attributed to the fact that 3 and 4 BHK apartments have better investment potential. Industry reports quote developers like Puravankara group and Sunteck Realty who echoed similar trends of ncrease in the sales of 3 BHKs.

    The proptech company has reportedly used a two-pronged approach to ascertain consumer behavior. In addition to its database of 30 million users, it also conducted a survey in which over 26,000 customers from across Bengaluru, Mumbai, Pune, Chennai, Hyderabad, and Delhi-NCR participated.

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