Top residential and commercial rental markets
in southern India have seen a varying proportion of house for rent during the covid-19. In this article you’ll get to
know how covid-19 has affected the rental market in Southern India.
The buyers and investors who had invested in real estate in top locations of southern India,
and were expecting handsome returns from their listed house for rent and flat for rent are disappointed a lot presently due to the
crash in real estate rental and commercial market.
The Covid-19 pandemic has created depreciation in
commercial real estate as well as residential real estate market in
southern India. It has also made a great impact on the landlords and house
owners who had listed their house for rent or flat for rent in prime locations of southern India.
Major cities of Southern India, whose house for rent was affected due to
Covid-19
Major cities of southern India, whose house for rent was affected due to Covid-19, are:
- Bangalore
- Hyderabad
- Chennai
- Trivandrum
House for rent in
Bangalore
Bangalore is the silicon valley of India and is
a home to 11 million working professionals. Most of the working professionals
staying here look for a house for rent or flat for rent.
- The city due to its unique climate attracts working professional from all parts of India who look for a house for rent in Bangalore after moving in to the city.
- Many people migrating to Karnataka for Job
purposes either stay in Bangalore or move to sub urban places like Mysore. The
rates of house for rent in Mysore were less as compared to Bangalore
during covid-19.
House for rent in
Hyderabad
Hyderabad is city of monuments which includes
the masterpiece of Charminar and the fort of Golconda. The prices of house for rent and flat for rent has seen a steep depreciation in covid-19.
- The cost of living in Hyderabad is much cheaper as compared to that of Bangalore. It is the second city after Bangalore to provide ample of job opportunities.
- If you are looking for a house for rent in Hyderabad, it will cost you somewhere around Rs.5k-8k. Hyderabad
has seen a small depreciation in commercial real estate market, while there was
no change in the prices of residential real estate during covid-19.
House for rent in Chennai
After the relaxations in lockdown restrictions,
the residential market in Chennai is showing some signs of recovery since the
rates of house for rent and flat for rent across Chennai is going up.
- The home buyers and brokers are back in market post covid and are quoting higher prices for house for rent in Chennai to make up with their lockdown loss during covid-19.
- Due to the increase in prices of house for rent and flat for rent in Chennai people are shifting to sub urban areas like Madurai. The rates of house for rent in Madurai are quite low as compared to Chennai.
- Near to the state of Tamil Nadu lies
Pondicherry. The house for rent in Pondicherry has seen a bit of depreciation during the
covi-19 pandemic and is recovering in a slow pace.
House for rent in
Trivandrum
Trivandrum is a tourist hub and is considered
as one of the major cities of Kerala. Trivandrum and Kochi are the places in
Kerala where modern amenities, cultural heritage and natural splendor meet and
complement each other.
- People moving into the state of Kerala usually look for a house for a house for rent in Trivandrum or a house for rent in Kochi, so that they can stay near to the nature and explore the tourist places.
- Tourism across the world was heavily affected by covid-19, due to which the places like Trivandrum and Kochi remained unexplored for quite a longer period of time.
There are some other cities in the sub urban
areas whose house for rent also got affected during covid-19; they are:
- Kochi
- Pondicherry
- Madurai
- Mysore
To know more about the impact of covid-19 in real estate market across India, visit cifiyah.com. It is a classified website which enables the tenants or buyers to directly contact the house owners and vice versa.
