Lindgaard Cheek posted an update 1 year ago
The unpredictable nature in the real estate business has witnessed plenty of highs and lows in the sale of properties. Although many believe the real estate marketplace is within a bit of a slump across the nation, certain cities happen to be capable of defy odds and post results.
In India, the city Kolkata witnessed more the sale of housing units during the last quarter. The city saw a 32% increase in units sold in comparison to Q2 in 2015, according to data collected from a realty research agency.
Other reports suggested the housing market saw a 17% rise in the sale of properties in the eight metros combined. Researchers stated the real reason for the growth in sales during the last quarter has become because of a drop in prices of projects.
Can luxury apartments function as the game changer?
While property marketers have tried their best to construct projects which cater to most, there are a number of projects coming up which target merely a couple of clients. Luxury apartments and complexes are being built by real estate property developers that projects can be extremely expensive in comparison to the other projects though good reason.
Real estate property marketers are attracting top designers and architects from around the globe to aid design and execute these projects. Most complexes falling under the luxury category feature large sized apartments and duplex flats along with a range of great amenities.
Although expensive, luxury projects are seen like a jewel in the crown for real estate developers, something may help them differentiate themselves from your competition and hopefully generate a lot of revenue from sales.
Most regular apartment complexes feature 2 BHK and three BHK flats but luxury projects feature larger flats having 4 BHKs and much more to offer to prospective buyers. These flats, depending on the city, cost which range from 2 crores to 50 to 60 crores and harder to market than non-luxury apartments. A single flat sold generates a lot of money for that real-estate developer.
While residents get the best facilities and cherish the grandeur of living of these luxury apartments, situation a risk for your property developer – the flats can stay unsold for long amounts of time. In a industry containing a lot of projects coming up, the need to have a project that gives the developer an original identity is of the utmost importance. Since the rewards for creating a luxury project outweigh the potential risks involved, it will lead to far greater variety of such projects springing up later on.
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