The year 2020 shook up the real estate market around the world. More and more people are learning to appreciate the remoteness of the country. They are increasingly looking for houses with a garden and a backyard. But owning a residence around cities in the suburbs is becoming increasingly popular and in turn that exudes pressure on the real estate market. We have long noticed price inflation in this specific market segment and experts believe that this trend is here to stay.
More and more city dwellers want to move to the countryside. However, they would like to find an urban infrastructure there as well. While this search criterion sounds simple; you can only find such conditions in the immediate suburbs. Studies show that such a choice of location changed in 2020 and nowadays it is the most popular among people who want to move.
More than ten percent of residents in the age group 18 to 29 in metropolitan areas would like to move away from city life in the next twelve months. Up to 18 percent of city dwellers are determined to change their living situation within a year and up to 22 percent of families with two or more children would like to move to the country. These numbers are not surprising.
More Outdoor Space Is Required
Anyone who spends more time at home soon feels trapped between four walls and instead looks for space and a garden. The disadvantages of a big city, such as noise, and traffic, are now even more prominent. More than half of the respondents in the study said they were looking for more living space, but not everyone wants to live in solitude. On the contrary, a lot of survey participants are also looking for attractive transport links and other amenities in the countryside. Therefore, many prefer a small town or proximity to a large city. This trend will make the immediate vicinity of cities of huge interest, where houses are in most demand. You could see that in the last few months when house prices rose by up to a quarter in these areas.
It is not yet finally clear whether this is only a temporary phenomenon or a long-term trend. In this situation, all living wishes can by no means come true. After all, numerous sections of the population are now pushing into the suburbs at the same time and there isn’t enough space for everyone to be guaranteed an affordable dream home. On the contrary, the pressure on prices is already causing many dreams to burst.
On the other hand, small towns could be an alternative. They have appropriate infrastructure and numerous green retreat areas. Longing for space proves that a lot is currently in a state of upheaval in the real estate industry. Seldom have so many people been looking for a new home at the same time. Homeowners, who currently want to sell their property, have a good chance of passing on their old homes to new families extremely quickly.