Pandemic Shifts Demand from PGs to Shared Houses and Co-living



Pandemic Shifts Demand from PGs to Shared Houses and Co-living

As Covid positive cases surge across India, the latest survey conducted by NoBroker.com, India’s largest C2C real estate platform that eliminates brokerage, has revealed that tenants who were hitherto living in PGs are now looking to move to shared houses and co-living accommodation. India ranks 4th on the tally of Covid-19 worst-hit countries and the situation is becoming increasingly worrisome for the professionals who’ve started commuting to workplace.

In order to maintain social distancing and ensure health safety, as many as 36.2% respondents of the survey have stated that they are looking to shift to shared houses from PGs and 33.7% have expressed their preference to move to co-living apartments. 16.3% have also cited that they are looking for premium PGs. Apart from social distancing which was cited by the maximum number of people (29.8%), reasons such as work from home (21.5%), not finding the current accommodation suitable (16.2%), and individual homes becoming more affordable due to drop in rent (14.1%), were also factors that contributed to this shift. 

Saurabh Garg, Co-founder & Chief Business Officer of NoBroker.com said, “The new normal of social distancing is going to stay for a while and is compelling these professionals to also look for safer accommodation with multiple amenities. Our data and the survey we conducted clearly indicates that the current situation has swelled demand in the co-living and shared houses segment. Priorities have clearly shifted from ‘proximity to workplace’ to ‘safe and hygienic place’. Times are difficult but it is good to see that people are also acting responsibly and doing the best that they can to stay safe and stop the spread of the pandemic.”

Safety being the key concern for as high as 73.8% of respondents, the survey also indicated that room size and cleanliness are also important considerations for 53.6% of the respondents. Over 47% have cited hygienic food and wifi as important factors while choosing an accommodation. Among those who prefer co-living and shared accommodation, a whopping 72.9% have stated that they need an individual room and not a shared one.

46% of respondents’ rental budget is less than Rs 8000 per month while 23.5% cited their rental budget between Rs 8000-12000 per month. About 14.4% have rental budget between Rs 12000-15000 per month. 46.6% of the respondents earned less than Rs 20,000 per month while 26.7% earned between Rs 20,000-40,000 per month.

As Covid positive cases surge across India, the latest survey conducted by NoBroker.com, India’s largest C2C real estate platform that eliminates brokerage, has revealed that tenants who were hitherto living in PGs are now looking to move to shared houses and co-living accommodation. India ranks 4th on the tally of Covid-19 worst-hit countries and the situation is becoming increasingly worrisome for the professionals who’ve started commuting to workplace.

In order to maintain social distancing and ensure health safety, as many as 36.2% respondents of the survey have stated that they are looking to shift to shared houses from PGs and 33.7% have expressed their preference to move to co-living apartments. 16.3% have also cited that they are looking for premium PGs. Apart from social distancing which was cited by the maximum number of people (29.8%), reasons such as work from home (21.5%), not finding the current accommodation suitable (16.2%), and individual homes becoming more affordable due to drop in rent (14.1%), were also factors that contributed to this shift. 

Saurabh Garg, Co-founder & Chief Business Officer of NoBroker.com said, “The new normal of social distancing is going to stay for a while and is compelling these professionals to also look for safer accommodation with multiple amenities. Our data and the survey we conducted clearly indicates that the current situation has swelled demand in the co-living and shared houses segment. Priorities have clearly shifted from ‘proximity to workplace’ to ‘safe and hygienic place’. Times are difficult but it is good to see that people are also acting responsibly and doing the best that they can to stay safe and stop the spread of the pandemic.”

Safety being the key concern for as high as 73.8% of respondents, the survey also indicated that room size and cleanliness are also important considerations for 53.6% of the respondents. Over 47% have cited hygienic food and wifi as important factors while choosing an accommodation. Among those who prefer co-living and shared accommodation, a whopping 72.9% have stated that they need an individual room and not a shared one.

46% of respondents’ rental budget is less than Rs 8000 per month while 23.5% cited their rental budget between Rs 8000-12000 per month. About 14.4% have rental budget between Rs 12000-15000 per month. 46.6% of the respondents earned less than Rs 20,000 per month while 26.7% earned between Rs 20,000-40,000 per month.

 

 

Source: Press Release