Luxury Apartments - The Next Big Boom
The unpredictable nature in the real-estate business has witnessed a lot of lows and highs within the sale of properties. Although believe agreement market is inside a small slump nationwide, certain cities have been capable to defy odds and post positive results.
In India, the city Kolkata witnessed a boost in the sale of housing units over the last quarter. The town saw a 32% increase in units sold when compared to Q2 in the year 2015, depending on data collected from the realty research agency.
Other reports suggested that this market saw a 17% boost in the sale of properties out of all eight metros combined. Researchers stated the reason for the development in sales throughout the last quarter has become because of stop by prices of projects.
Can luxury apartments function as the game changer?
While real estate marketers have tried their utmost to build projects which cater to most, there are a range of projects springing up which target simply a few clients. Luxury apartments and complexes are now being built by real estate developers which projects can be extremely expensive when compared to other projects though good reason.
Real estate property marketers are earning top designers and designers from across the globe to aid design and execute these projects. Most complexes falling under the luxury category feature large sized apartments and duplex flats plus a range of great amenities.
Although expensive, luxury projects are located being a jewel within the crown are the real deal estate developers, something will help them stand above your competition and hopefully make plenty of revenue from sales.
Most regular apartment complexes feature 2 BHK and 3 BHK flats but luxury projects feature larger flats having 4 BHKs and much more to supply to prospective buyers. These flats, based on the city, cost anywhere between 2 crores to 50 or 60 crores and take more time to sell than non-luxury apartments. Even a single flat sold earns a great deal of money to the property developer.
While residents receive the best facilities and cherish the grandeur of living of these luxury apartments, situation a risk for the real-estate developer - the flats usually stays unsold for lengthy amounts of time. In an industry that has numerous projects coming, the call to have a project which gives the developer a distinctive identity is essential. Since the rewards for constructing a luxury project outweigh the hazards involved, it will lead to an even greater variety of such projects approaching down the road.
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