Indian Luxury Residential Sector Has Grown by 151% in Q1 2023
As per reports by the Financial Express, luxury housing sales in Q1 2023 have grown by 151% y-o-y in all major Indian cities. According to market experts, this trend will continue in the upcoming quarters thus creating high demand for luxury properties. This, in turn, will raise their values, creating an excellent opportunity for real estate investors.
So, if you are looking for luxury homes for sale in Electronic City for investment purposes, 2 BHK and 3 BHK flats in Electronic City, Bangalore, can be an excellent location. Read on to know the reasons for the rising demand.
Factors for the Rise in Demand for Luxury Homes
Here are a few reasons why luxury properties are in demand among home buyers:
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Strong Sense of Home Ownership After the Pandemic
After the Covid-19 pandemic, people learnt the value of having their own homes. This created a high demand for residential property across all price segments. Now, individuals started giving high preference to buying homes which matched their lifestyle. It included the presence of a dedicated workspace, entertainment zone, study room, etc. Thus, the demand for luxury housing units which can provide all such facilities under one roof has grown significantly.
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Desire for Increased Space in Homes
Over the years, home buyers have started showing an increasing preference for houses with larger floor space. This is because they want more room to comfortably work from home, get the much-needed breathing space, properly store all their additional stuff and lead a decluttered lifestyle. Moreover, homes with larger space also facilitate proper ventilation and propagation of natural light. Thus, the demand for spacious and luxurious 2 BHK and 3 BHK flats in Bangalore is currently on the rise.
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Rise in Demand for High-End Amenities
Nowadays, the availability of high-end amenities is a major criterion among home buyers. They prefer to live in apartments where they can get access to swimming pools, gyms, gardens, football grounds, etc. Luxury housing complexes facilitate the availability of such amenities along with their regular maintenance. Thus, people are showing increasing preference towards this particular segment, when it comes to buying homes.
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Preference for Security and Exclusivity
For modern homebuyers, security is a major factor when it comes to buying property. They usually prefer residential complexes with state-of-the-art security features. Moreover, they also want to reside in exclusive areas which are away from the city’s hustle and bustle, featuring open space and greenery. As such features are only available in the luxury housing segment, the demand for such property is increasing manifold.
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High-Value Appreciation
Homes, being physical assets, provide more financial security to investors in comparison to other assets. Despite market fluctuations, property values tend to appreciate with time, thus providing long-term value appreciation. Furthermore, with the growing demand for residential property, the value of luxury housing units is predicted to increase in the foreseeable future.
Mahendra Arto - Luxury Homes for Sale in Electronic City
On the lookout for RERA approved projects in Electronic City?
Check out Mahendra Arto Helix! It is our luxurious 3.75-acre residential complex featuring over 84% open space. All flats are meticulously designed with premium features like capacious living areas, attached balconies, bedrooms with bay windows, etc. If you are looking for a 2 BHK in Electronic City or 3 BHK flats in Bangalore, we are the name to trust.
End your search for luxury homes for sale in Electronic City by calling us today!
