The luxury housing segment constitutes a substantial chunk of the overall real estate market in India. Of late, there has been a growing demand for luxury housing among not only the local buyers but also from foreign investors, especially NRIs.
This upward demand can be attributed to various factors of globalization. With growing awareness in international design standards & aesthetics, global lifestyles and upcoming locations, more and more homebuyers are opting for luxury properties.
From high-rises to independent constructions and gated communities, there are more options available to luxury homebuyers today. Developers are offering top-class features and specifications that extend well beyond interior designs and include architecture, construction methods, and lifestyle amenities.
Here are three reasons why an increasing number of homebuyers are choosing luxury housing in India.
One of the main reasons why luxury properties have steady demand is the number of choices available to homebuyers today. Even in the luxury segment, developers are now adding numerous luxury developments to their portfolio. With elegant facilities that differ from project to project, aspiring homeowners and investors have a lot on their list to choose from.
With the transformation of new locations as hotspots, there has been a rise in the number of luxury developments. But since these locations can still be considered as upcoming, luxury property prices are still in the affordable range, considering the standard price of luxury offerings. Homebuyers opt for this option as the value offered outweighs the cost.
The demand for luxury properties is ultimately fueled by the desire to live to a certain standard that these extravagant properties offer. With rising standards of income in the country, more and more people are investing in a premium lifestyle that speaks of an elite stature in society. With world-class amenities and international standards in construction, luxury properties continue to attract this sector of homebuyers.
These crucial factors have given rise to the rising demand for luxury properties in India. These continued investments add to the growth of the luxury living segment in the country. The most important factor continues to be the ability of Indian consumers to pay for a global living standard. And as supply meets demand, the sector will continue to grow.
If you are looking for luxury properties in PCMC, then check out L-Axis – a thoughtfully-planned residential project of 3 BHK flats in Pimpri Chinchwad. Live in premium residences offering a range of modern amenities for all age groups. Its strategic location ensures all your lifestyle needs are fulfilled within a few kilometers radius.