|Description||The unpredictable nature from the property business has seen lots of highs and lows in the sale of properties. Although many believe the real estate marketplace is in the small slump nationwide, certain cities are already capable to defy odds and post good results.|
In India, the town Kolkata witnessed a rise in the sale of housing units over the last quarter. The town saw a 32% increase in units sold when compared with Q2 in 2015, based on data collected coming from a realty research agency.
Other reports suggested that this real estate market saw a 17% rise in the sale of properties in all of the eight metros combined. Researchers stated the reason for the development in sales over the last quarter continues to be as a result of drop in prices of projects.
Can luxury apartments function as game changer?
While real estate marketers have tried their very best to construct projects which cater to most, there are a range of projects coming which target just a couple of clients. Luxury apartments and complexes are being built by real-estate developers that projects are extremely expensive in comparison to the other projects however with justified reason.
Real-estate marketers are getting top designers and architects from across the world to assist design and execute these projects. Most complexes falling underneath the luxury category feature large sized apartments and duplex flats and also a range of great amenities.
Although expensive, luxury projects are seen as being a jewel in the crown for real estate developers, something which may help them stand above the competition and hopefully attract a lot of revenue from sales.
Most regular apartment complexes feature 2 BHK about three BHK flats but luxury projects feature larger flats having 4 BHKs and more to provide to prospective buyers. These flats, with respect to the city, cost between 2 crores to 50 to 60 crores and take more time to trade than non-luxury apartments. A good single flat sold brings in a lot of money to the real estate developer.
While residents obtain the best facilities and cherish the grandeur of life in these luxury apartments, situation a threat to the real-estate developer - the flats can stay unsold for too long amounts of time. Within an industry which has so many projects approaching, the need to use a project which gives the developer an exceptional identity is extremely important. Because the rewards for building a luxury project outweigh the risks involved, it will result in far greater variety of such projects springing up later on.
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|Created||2 Oct 2019|
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