McNulty Mcdaniel posted an update 11 months, 3 weeks ago
The unpredictable nature of the real estate property business has seen a great deal of ups and downs in the sale of properties. While many believe the real estate market is in a small slump across the nation, certain cities are already capable to defy odds and post positive results.
In India, the town Kolkata witnessed more the sale of housing units within the last quarter. The town saw a 32% increase in units sold when compared to Q2 in the year 2015, based on data collected from a realty research agency.
Other reports suggested that this market saw a 17% rise in the sale of properties in the eight metros combined. Researchers stated the reason for the growth in sales over the past quarter has become due to a stop by prices of projects.
Can luxury apartments function as the game changer?
While property marketers have tried their utmost to develop projects which focus on most, there are a range of projects coming which target only a handful of clients. Luxury apartments and complexes are built by property developers which projects are incredibly expensive when compared to other projects but good reason.
Property marketers are bringing in top designers and designers from across the globe to aid design and execute these projects. Most complexes falling beneath the luxury category feature large sized apartments and duplex flats and also a range of great amenities.
Although expensive, luxury projects have emerged being a jewel in the crown are the real deal estate developers, something that will help them differentiate themselves from the competition and hopefully make a great deal 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 more to supply to prospective buyers. These flats, based on the city, cost ranging from 2 crores to 50 to 60 crores and take longer to market than non-luxury apartments. Even a single flat sold earns a lot of money to the real estate property developer.
While residents obtain the best facilities and cherish the grandeur of living of these luxury apartments, it still is a danger to the real-estate developer – the flats usually stays unsold for very long intervals. Within an industry containing so many projects coming, the necessity to possess a project that offers the developer a distinctive identity is essential. Since rewards for building a luxury project outweigh the potential for loss involved, it ought to bring about an even greater quantity of such projects springing up down the road.
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