Luxurious Apartments - A Future Big Boom
The unpredictable nature of the property business has seen a lot of highs and lows in the sale of properties. Even though many believe the property marketplace is in the bit of a slump nationwide, certain cities have been in a position to defy odds and post results.
In India, the location Kolkata witnessed a boost in the sale of housing units within the last quarter. The town saw a 32% rise in units sold when compared with Q2 in 2015, determined by data collected from a realty research agency.
Other reports suggested the housing market saw a 17% increase in the sale of properties in the eight metros combined. Researchers stated the real reason for the development in sales during the last quarter may be due to a drop in prices of projects.
Can luxury apartments function as the game changer?
While real estate marketers have tried their very best to create projects which serve most, there are a range of projects springing up which target just a couple of clients. Luxury apartments and complexes are increasingly being built by real estate developers and the projects are incredibly expensive when compared to other projects though good reason.
Real-estate marketers are earning top designers and architects from around the world to aid design and execute these projects. Most complexes falling underneath the luxury category feature large sized apartments and duplex flats plus a array of great amenities.
Although expensive, luxury projects have emerged being a jewel from the crown the real deal estate developers, something that might help them stay ahead of your competition and hopefully attract a lot of revenue from sales.
Most regular apartment complexes feature 2 BHK 3 BHK flats but luxury projects feature larger flats having 4 BHKs and even more to make available to prospective buyers. These flats, based on the city, cost anywhere between 2 crores to 50 or 60 crores and take more time to trade than non-luxury apartments. A single flat sold generates a great deal of money for the real estate property developer.
While residents acquire the best facilities and cherish the grandeur of life over these luxury apartments, situation a hazard to the real-estate developer - the flats usually stays unsold for too long durations. In an industry which has numerous projects coming up, the call to possess a project that gives the developer an original identity is extremely important. Because the rewards for creating a luxury project outweigh the potential for loss involved, it should lead to an even greater variety of such projects coming up in the future.
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