“The need for a bigger home will remain as home working and online teaching will also continue this year,” says Rajani Sinha, Chief Economist and National Research Director, Knight Frank India. But the question of accessibility remains. So, will people buy a studio in 2022?
If purchased under government schemes, studio apartments can save Rs 1-4 lakh due to their smaller size and lower cost.
Affordability is key
The Monitoring Center for Indian Economy (CMIE) reports that unemployment in urban areas rose from 8.09% in January 2021 to 9.3% in December 2021.
Harish Sharma, founder of a real estate company, describes how this directly affects the studio. “Covid-19 has caused many people to lose their jobs or face pay cuts. In such circumstances, the studios offer the right price. the
So, are new projects even launching studios? Yes they are. In fact, developers make sure there are a few in every new project, as they are often snapped up quickly by savvy millennial investors.
“Many big developers include studios in their projects because they are the first to go to market with 1BHK,” Sharma shares.
Millennials continue to show interest in buying rather than renting a home, observes
While affordability is a draw for studio apartments, the charm of owning a studio-style home has also become a trend. A sub-genre of the studio is now the luxury segment in which homes as large as a three- or four-bedroom apartment are also sought after for their larger windows, good ventilation, brick walls, and space-saving minimalist designs. .