New Delhi [India], November 27 (ANI): India's real estate sector suffered a major setback during the first and the second wave of the COVID-19 pandemic but now it is showing signs of steady recovery.

Recently, Deloitte Touche Tohmatsu India LLP (Deloitte India) released a report, titled 'Reality of realty in a post-COVID-19', which captures the important trends that will pave way for the recovery of the sector.

According to this survey-based report, the pandemic has triggered a change in consumer behaviour and that is one of the factors enabling this sector to bounce back.

The report highlights that even though the first wave had a far bearing impact on the residential real-estate, the sub-sector was quick to regain its balance. 74 per cent of respondents that participated in this survey expect that there will be an increase in demand for the residential sub-sector, of which, 86 per cent indicated a 10-20 per cent increase.

Aditya Kushwaha, CEO and Director, Axis Ecorp noted that "The real estate market is not ready to taper right now and will continue to move in a fast direction amid pent-up demand. Interest rates also have a major impact on the current boom. During these uncertain times, homebuyers are scouting for projects that are spacious, deploy sustainable materials and are giving preference to self-sustaining societies. They are expecting a better experience and long-term connection with their house. We believe that given the changing needs and aspirations of the people, the affordable housing and holiday home segment will continue to flourish in the coming few months".