The housing sector as a segment is seeing many changes. The demand today is completely different from the past. It may be because of the change in People’s needs. The luxury home is the perfect solution to meet all the needs of Gen next.
The need for big homes can be attributed to factors like work-from-home culture, large spaces and indoor gardens.
Real estate industry is going through an interesting phase. And such change is visible in cities like Mumbai, Delhi and Bangalore. Some factors responsible for the rise in luxury housing are:
· Changing mindset.
A luxury house is the need of the hour. The biggest reason is the changing mindset. It is not uncommon to have a work-from-home culture. A large space enables one to build an office at home hence an ideal option for millennials.
· HNI Investment.
In the past two years, HNI investment has increased drastically. It is yielding optimum dividends for builders and buyers alike. As luxury apartments have a high resale value, unlike other apartments. It seems to be an ideal form of investment for the future.
· The feel-good factor.
The most vital thing about a home is the feel-good factor. Luxury homes promote a feel-good factor. Most prominent projects lay emphasis on luxury housing. Most people are likely to go for big than small houses to meet all the requirements.
The rise in the luxury segment has been noticeable in the past few months. And is bound to continue for the next few months. It is safe to assume that it is a safe venture and is bound to grow more.
In the Indian scenario, this change has come as a boon and boosted the sales of real estate housing.