What Has Raised The Demand For Luxury Homes In Bangalore? - PowerPoint PPT Presentation

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What Has Raised The Demand For Luxury Homes In Bangalore?

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What has raised the demand for luxury homes in Bangalore? The value of work-life balance and privacy, and the reduction of home loan rates, are the 3 driving factors for the preference of villa plots in Chikka Tirupathi Bangalore. – PowerPoint PPT presentation

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Title: What Has Raised The Demand For Luxury Homes In Bangalore?


1
What Has Raised The Demand For Luxury Homes In
Bangalore?
Bangalores luxury housing market has seen a
considerable surge in demand in the last couple
of years, some requiring the same to build up a
new life by setting up their careers in this
Silicon Valley of India, while others wanting to
retire and settle in the calm and peaceful
environment of the city. Whatever the reason,
luxury property units have come on top of the
list for favoured residential options by
potential home buyers in Bangalore today. Despite
the pandemic and its awful economic crunches and
employment insecurities, the demand for luxury
housing units in Bangalore peaked in 2021 and
the online luxury unit search trends have
sustained in 2022 too. Furthermore, the
continuation of remote working cultures has
resulted in a heightened demand for 3 BHK and
above configurations. So, what is it that has
resulted in this consistent hike in the demand
for luxury homes in Bangalore, despite all the
economic crises? Lets take a look. People have
prioritized the work-life balance Following the
pandemic, homeowners choices have inclined more
towards holistic lifestyles, prioritizing broth
well-being and sustainability over work. While
most of southern India has witnessed a preference
for large self- contained residences, Bangalore
predominantly has contributed a major chunk of
more than 30 the total demand for luxury
property units in 2021 and 2022. People value
privacy more Despite the availability of 3 and 4
BHK apartments, people have started gravitating
towards independent houses, heightening the trend
of luxury homes
2
in Bangalore. Independent houses captured around
42 of the demand share, with apartments
accounting for only 18, indicating the rising
preference towards more privacy-induced and
spacious luxury properties in the city. Home
buyers are thus now looking more towards
well-facilitated and gated properties that
provide utmost ownership and solitude. People are
now getting easy and reduced home loans As per a
research, online searches for luxury homes worth
Rs. 1 crore and more have has the highest demand
share of 40, while the Rs. 1-3 crore bracket
capturing 33. One major reason for this search
behaviour could be the reduced home loan rates
on such larger high-priced properties, which may
have fostered the optimism in home buyers to go
ahead. Since 2019, the home loan rates have
significantly dropped from 9 to 7, with some
housing finance services also charging as low as
6.50, making real estate purchases more
accessible than ever! The above three reasons
have primarily influenced todays home buying
behaviours. A heightened preference for
well-facilitated properties in prime locations
is being seen lately. Most of the working
population is concentrated in and around
well-connected areas, which is why they may want
a home either in their very own locality, or in
a location thats well-connected with other
important areas of the city. Understanding the
importance of staying well- connected, yet
living a peaceful life away from the
hustling-bustling city of Bangalore, MJR
Builders has come up with the ideal solution!
Away from the world of hashtags and algorithms,
MJR Divine Meadows villa plots in Chikka
Tirupathi Bangalore can help you breathe in the
vista of a serene environment that is surrounded
by nature. Yet, the STRR approval of the project
also makes it convenient as it helps you stay
easily connected with 12 other towns nearby, via
a 4-6 lane access-controlled expressway.
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