📉 Peeps in Bangalore: Is this true that rents have come down and are going to stay low for a while? Is this sign of a bigger trend of decentralization 🔮

this is gonna be a small blip. yes, many have moved out of the city, but the majority will come flocking back once their employers pull the plug on remote. I expect that to happen some time in late q1 or early q2

@calm-grass-85557 This is a billion dollar question, isn't it? I have a sure stock tip for you if you're interested. 😜

@helpful-gigabyte-47939 Would love to know that :)

I'm guessing it'll go back to normal once people start moving back to Bangalore once everyone starts opening up their offices

The pandemic has done wonders in the Indian tech space - by making remote working mainstream. It is no longer taboo to ask about remote options at an interview. Sadly, we are far, far away from a fully remote culture. I assume most employers would be fine with a few wfh days every month. Which means, people would have to return to hotspots like HYD, BLR in a few months

I’ve been looking for a better house now, but it seems like they rents haven’t reduced. Today was the first time a landlord said, “The current tenant pays `x`K. You can pay `x-2`K. I see people not increasing rents, OTOH. My landlady said she won’t do the 5% increase for renewal of the lease, and other places I’ve looked at so far tell me the rent is the same as what their current tenants pay. Of course I might be able to negotiate if I like a place enough to move in, but that hasn’t happened yet.

Yea, I pay 6k less now, used to pay 24, now I pay 18

At the same time, rentals and lease costs are increasing slightly in the remote but connected areas. (ie. Dharmshala). I think this is one of the great equalizing effect of remote work. Though, I think that majority of this will roll back once we get back to old normal again!