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A few years ago, a report by one of the professional audit firms in India, KPMG stated that luxury was the fastest growing sector in residential housing. It is learned that this was propelled by a tremendous growth in the number of high net worth individuals in the country. Gurgaon, Bombay, Bengaluru, Hyderabad, and Kolkata are generally known as the key markets for luxury housing in India and it has also made inroads into the other southern states including Kerala.
Being a stronghold of the Non-Resident Keralite population, Kottayam in Kerala did not shy away from lapping up this trend of investing in luxury homes. Moreover, this is a golden opportunity for Non-resident Keralites to settle down in their homeland without compromising on their posh lifestyles. Let us look at some of the factors that accelerated this demand for luxury apartments in Kottayam.
Unlike before, many young home-buyers who work in the IT sector are left with more disposable income. The gulf boom witnessed by Kerala has caused a huge inflow of money from those working in the Middle Eastern countries. The high investment capacity of High Net Worth Individuals has only forced them to bank on the option of luxury apartments in Kottayam.
Many of these buyers tap into the luxury housing market in order to save on taxes.
A luxury home is indeed seen as a reflection of one’s high-end lifestyle. It gives the owner a sense of pride, achievement and elevated social status. Therefore, people are increasingly flaunting their luxury homes as a symbol of status.
It is a notion of the bygone times when home-buyers associated luxury with just a swimming pool or a children’s play area. Builders of luxury homes are introducing trendy contemporary designs and innovative technologies to woo the buyers in the luxury housing segment. These top-notch amenities cater to the high standard of living of the high net worth individuals.
By living in these luxury apartments, owners can have a desirable social life through interaction with neighbors whose lifestyles match their own. However, living in apartments offers a more secure environment as families live as a close-knit community.
The state of the economy has a direct impact on the housing market. Growth in the economy causes a rise in the income of people and this, in turn, fires up the demand for luxury homes. This contributes to the number of people spending on luxury apartments.
Real estate investments are comparatively less affected by fluctuations in the market, unlike in the case of traditional gold. The real estate industry especially the luxury housing segment faces steady growth and the net worth only goes up with time. Besides, the luxury apartments in Kottayam can also serve as good investment collaterals when it comes to home loans and secondary incomes.
Considering India’s economic growth rate, demand for luxury housing is here to stay. It is said that buyers of luxury homes usually do not depend on loans for the purchase which in turn implies that high-interest rates do not impact the demand in this segment.
If you are yearning for a life in the lap of luxury in Kottayam, Confident Group is more than happy to introduce “Confident Blue Berry”-a coveted luxury apartment project in Kottayam. Located in Kanjikkuzhi, the project has 64 units and features the best in class amenities. ”Blue Berry” offers you an unmatched lifestyle steeped in luxury and comfort.
Thank you for visiting our website. We would like to take this opportunity to keep you up-to-date with the changes currently being deployed in accordance with the rules and regulations stipulated by RERA – Real Estate Regulatory Authority.
This process may take time, and it’s duly advised not to take any information currently mentioned on the website like images, material, stock photography, projections, details, descriptions, etc. to make a final purchase decision. All information should be deemed to be or considered only as advertisements, solicitations, marketing, offer for sale, an invitation to offer, an invitation to acquire, including within the purview of RERA.
You are therefore requested to personally verify all the details and aspects of any booking/acquisition of units/premises, directly with our sales department. To reiterate, please do not rely on the information contained on this website to make a final purchase decision until all the revisions and updated are completed.
Also, please note that we’ll not be accepting any bookings or allotments based on the material, images and descriptions mentioned on the website. We request you to contact our sales department for expert advice and information on the same.
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