Property News

PREMIUM HOUSING DRAWS MORE BUYERS

Jun 4, 2017

 

In Mangalore, the real estate sector is creating ample investment opportunities. Many projects of repute and elegance have dotted the skyline of the city, giving a push to the real estate market. With improving standards of living, changing demographics and availability of loans, the demand has grown in the last few years with a thrust towards luxury apartments. This demand is mainly coming from the younger buyers.

Today, the luxury segment, from high-end phones to extravagant holidays and big cars, is driven by a younger breed of professionals. When it comes to living spaces, they will not settle for anything but the most exclusive. This segment is well-informed about the latest trends across the globe, making developers strive to deliver exceptional quality residences.

“Luxury lifestyle is where the property, the location and the amenities all play a major part in decision making. Two primary things that a buyer is not ready to compromise on are brand and location of the project. Apart from this, future appreciation, security and ultra modern amenities are other things which an end- user looks for,” says builder Siraj Ahemed. In apartment, buyers look for a home theatre, club house with ultra modern amenities, and the possibility of a small office space indoors.

Thanks to globalization and exposure to international standards, many demand comparable levels in comfort and service back home. Highly- placed professionals, young NRIs and entrepreneurs, and business houses are more likely to invest in luxury properties.

Earlier, independent houses were considered the most preferred property, but now the trend is changing with the next generation investing in apartments. Luxury apartments are shaping up well in Mangalore and are in demand. The advantages of a city without its hustle and bustle can be experienced here, making the living experience better.

The criteria for choosing a home have changed. Earlier, a home was seen just as a place to live in where security was the main concern. These days, buyers are looking for a complete package that offers convenience, lifestyle and quality. Luxury homes in Mangalore are more spacious and have superior specifications as well as amenities.

Mangalore’s pleasant climate provides the ideal setting for luxury homes. The investment value of luxury homes is very high, as there is constant demand for them. Since it is a relatively compact city, commuting from various parts is easier. The demand for luxury residential units in the city is highest in areas that provide ready access to the central business district and employment nodes.

This factor has played an important role in boosting demand for luxury housing even in areas outside the city center. The premium housing segment in Mangalore has continued to thrive. Both from an ownership as well as investment perspective, luxury housing in Mangalore will grow in future.

(reference Times Property 27.12.2013)

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