Luxury is the way of life for young home buyers
Nov 09, 2013
Source : The Times of India

 

DELHI: In India, real estate industry is bringing ample investment opportunities in the market. With improving standard of living, changing demographics and better availability of loans, demand has undoubtedly grown in the last five years.

At present, dynamics of luxury segment are radically different than what they used to be a decade ago. Today luxury segment, from luxury cell phones to extravagant exotic holidays to luxurious swanky cars, is majorly owned by young breed of professionals. So when it comes to living space they would not settle for anything less but the most exclusive and expensive. This segment of population is not just hard to please but also well informed about the latest trends across the globe, making developers strive to deliver exceptional quality residences.

The sturdy growth of the economy and liberalisation has resulted in an increased income which has in turn leveraged the spending capacity of the home seekers. Today, globalisation has stirred every aspect of a human life with people travelling worldwide and getting exposed to international standards. So they yearn to achieve the comparable level of comfort and services back home, if not similar. Highly-placed professionals, investment bankers, top consultants, young entrepreneurs, individual business houses and a globe trotters are the segment of people who are more likely to invest in luxury properties.

There is a clear demarcation of luxury homes of the yester years and luxury housing in the present day. With rise in the aspirations the home seekers are always in quest of exclusivity, uniqueness and customisation in every nook and corner of their home and with the increased association of internationally acclaimed designers, luxury homes are now witnessing world-class standard of living. Moreover, traditional households are seeking better lifestyle and hence moving out of the city cluster to newer horizons.

Furthermore, there is a growing influx of ‘branded homes’ where many developers tie-up with luxury brands to provide unique combination of brand and luxury living rigged with various luxury amenities such as gyms, spas, golf greens, pools and community clubs. Again, when it comes to luxury amenities sky is the limit. Developers have to be at their experimental best, experimenting with variety of new products and services that stand apart from the clutter of services already being offered.

The demand for luxury housing has revolutionised the whole experience of living with increasing rate of High Networth individuals and the rapid pace of urbanisation. Most of the luxury homes are built in the prime locations – away from the hustle and bustle of the city which consistently brings a rise in the demand of the consumer.

Everyone aspires for the best of facilities and with availability of funds they wish to live life the king size!

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