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Arcane
Hey, I'm on Medialย โขย 1y
ONE INTERESTING OBSERVATION SERIES DAY #12 Traditionally, affordable housing has been the most popular option for home buyers. But, there's been a surge in demand for mid-end and high-end homes (ranging from โน45 lakh to โน2 crore) in the past few years (2019-2023). What's the reason for this shift? ๐นFinding affordable land in prime locations is tough, and construction costs are rising. This makes it difficult to build affordable homes and still make a profit for the developers. ๐นThere are no end user incentives in affordable houses. ๐นLuxury homes offer bigger profit margins for the developers. This is rather a unusual trend as affordability is at the forefront while making purchases in India. Maybe it's not just about the budget anymore. People might be looking for more space for their families, or features that were once considered luxuries are becoming more standard. What are your thoughts?
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