benefits of living in an apartment

Increasing Demand for Luxury Apartments in Kottayam

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.

 

More disposable income with home-buyers

 

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.

 

Pride of Ownership

 

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.

 

Luxury amenities that employ new advanced technology

 

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.

 

Interaction with neighbors who lead the same high-end lifestyle

 

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.

 

Growth in the economy

 

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.

 

Great investment option

 

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.

 

ABOUT THE AUTHOR

As the most trusted real estate brand in the nation, we at Confident Group strive to create a positive, smooth and transparent medium for potential home buyers with anything and everything related to home purchase. We provide informative and engaging articles which cover useful details across many verticals from the real estate sector. Our 2-decade long expertise in building infrastructure projects across Kerala and abroad backed by the trust of over 10,000 customers earned us the reputation of being the best as a real estate brand in Asia. We hope that our blogs will help in translating our experience for the prospective buyers who are looking for their dream home.

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