Supply for Budget Housing Soars on OLX

With the college admission season in full swing across metros and demand expected to be at an all-time high, the supply for budget accommodation on OLX, India’s Number 1 C2C marketplace, has witnessed a surge. The listings for budget accommodation such as PGs, dorms and apartments make up more than 30% of all property listings on OLX. Since May 2018, there has been an increase of at least 25% in the number of listings under rental accommodation on the platform. “The big metro cities - Bengaluru, Delhi/NCR, Mumbai and Pune have nearly 20 million students coming in every year to pursue higher studies. There is a huge deficit in terms of supply and demand for college hostel accommodation, that leaves a majority of students to their own devices to find accommodation. OLX offers students an ideal platform to find a ‘home away from home’, quickly and securely. Given our leadership position in the C2C marketplace and the listings we receive across all categories including real estate, users can be assured of being able to have ample choice of their preferred accommodation across their desired location and price range,” says Sunny Kataria, VP Real Estate, OLX India. Compared to the previous year, the number of listings have increased on the OLX platform while rental rates across all cities, except for Bangalore have witnessed a decline. An increase in the supply of budget accommodation explains this trend, one that ultimately benefits the students. Mumbai rentals for budget accommodation continue to be among the highest across all cities.