The unpredictable nature in the real-estate business has seen a great deal of lows and highs within the sale of properties. Although believe the property industry is within a minor slump across the nation, certain cities have already been in a position to defy odds and post results.
In India, the city Kolkata witnessed a boost in the sale of housing units in the last quarter. The location saw a 32% surge in units sold when compared to Q2 that year 2015, according to data collected from the realty research agency.
Other reports suggested that the housing market saw a 17% increase in the sale of properties in all of the eight metros combined. Researchers stated the reason for the development in sales throughout the last quarter has become because of a drop in prices of projects.
Can luxury apartments be the game changer?
While real estate marketers have tried their very best to build projects which focus on most, there are a range of projects springing up which target just a handful of clients. Luxury apartments and complexes are now being built by property developers and the projects are really expensive compared to the other projects however with valid reason.
Real estate marketers are getting top designers and architects from across the world to assist design and execute these projects. Most complexes falling under the luxury category feature large sized apartments and duplex flats and also a variety of great amenities.
Although expensive, luxury projects are located being a jewel inside the crown legitimate estate developers, something that may help them stand above competition and hopefully generate a great deal of revenue from sales.
Most regular apartment complexes feature 2 BHK 3 BHK flats but luxury projects feature larger flats having 4 BHKs and a lot more to supply to prospective buyers. These flats, with respect to the city, cost ranging from 2 crores to 50 to 60 crores and harder to sell than non-luxury apartments. Obviously any good single flat sold earns a lot of money for the real estate developer.
While residents acquire the best facilities and cherish the grandeur of life in these luxury apartments, it still is a threat for that real-estate developer - the flats can stay unsold for long periods of time. In a industry containing so many projects coming, the call to possess a project which gives the developer a distinctive identity is essential. Since rewards for developing a luxury project outweigh the potential for loss involved, it ought to lead to a much greater amount of such projects approaching in the foreseeable future.
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