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Home / Rent and Lease / How the pandemic and work from home has impacted the rental market?
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How the pandemic and work from home has impacted the rental market?

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5 2021-05-26T18:18:12+00:00
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The COVID-19 pandemic has affected everyone’s life adversely. Real estate market has also not remained untouched. The work from home impact on house renting industry is immense.

Previous year’s nation-wide lockdown and this year’s lockdown imposed by most of the state governments have forced the shut down of the office spaces and people have been compelled to work from home. Many people have lost their jobs and many of them are facing pay-cuts. 

In this situation, when re-opening of the offices is uncertain, many commercial and residential accommodations have been suffering losses. Small and big companies are vacating office spaces to save rental expenditure, whereas many working professionals have moved back to their hometowns. So, demand for rented places in and around industrial hubs has gone down drastically.

However, some offices have decided to call the employees on a rotational basis once or twice a week. This decision has also contributed to the decision of shifting to the smaller office spaces. 

As a result, rents in industrial areas and big cities are seeing a downward trend and smaller places are seeing a little upward trend. 

Another interesting thing to notice is that people are showing keen interest in moving to outskirts or far off residential hubs where the rental prices are comparatively lower but the housing units are spacious and accommodate for all the needs such as a separate work space, fitness lobby, study area, garden area, etc. 

So, if someone asks how WFH impacted rental market, we can say that the pandemic and work from home has impacted the rental market in both positive and negative ways.

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0 2020-11-12T13:59:21+00:00
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India’s rental markets have gone down due to the Coronavirus pandemic has not only triggered a depreciation across India’s leading rental markets but has also left landlords in search for tenants in major cities. Many people are either working from home or not working at all. So people residing near the offices have vacated their rented house and moved their hometowns. If they are still going to office, they have chosen to rent a place in the outskirts of the city. This has made many landlords lose their tenants and ultimately a source of income. So many landlords are agreeing to a lower rent. Additionally, the majority of the companies have decided to extend the work from home scenario even after things come back to normal. This means employees can work remotely. So, I feel this scenario of lowering of rent will continue for quite a long time even post-pandemic.

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Ramya V

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