78pc in Hyderabad want home closer to workplace

Hyderabad: The hybrid work model is pushing a lot of residential property buyers to look for homes that are closer to their workplaces so as to reduce the fatigue from travelling. According to a survey done by Knight Frank India, property buyers in Hyderabad are looking at proximity to workplace as an important feature while […]

Hyderabad: The hybrid work model is pushing a lot of residential property buyers to look for homes that are closer to their workplaces so as to reduce the fatigue from travelling.

According to a survey done by Knight Frank India, property buyers in Hyderabad are looking at proximity to workplace as an important feature while buying a new home.

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About 78 per cent of respondents in Hyderabad showed inclination to buy homes closer to workplace, according to the India Buyer Survey 2021 – Living in the times of Covid-19 by Knight Frank. The city ranked third in the list which saw about 92 per cent in Mumbai and 81 per cent in Pune opined proximity to workplace to be considered while choosing a new home.

Many industry experts have pointed out that a hybrid arrangement is more taxing and emotionally exhausting for the employees as they have to come to office two or three times a week and rest of the time work from home. A recent survey reports that 60 per cent of employees coming into the office are exhausted in comparison with 38 per cent of remote employees. Reasons are said to be fatigue faced due to travelling and not getting to spend time with family and loved ones, the survey says.

The Knight Frank report also points out that more than half of respondents in Hyderabad have seen an increase in their spending propensity and more than 55 per cent are preferring to buy a second home. However, 89 per cent of respondents in Hyderabad showed unwillingness to pay premium for branded residences.

Nationally, the survey found that 2 in 5 respondents are more likely to buy a second home across income segments and good air quality, access to green spaces and medical infrastructure is more important after the pandemic.

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