Demand for luxury real estate returns to the India property market

Discussion in 'India property' started by Nicholas Wallwork, Jan 18, 2010.

  1. Nicholas Wallwork

    Nicholas Wallwork Editor-in-Chief Staff Member Premium Member

    [​IMG]Real estate developers in India are set to launch more luxurious property projects despite recent*commitments to more affordable property.

    Last year developers saw demand for luxury real estate fall off and declared that in 2010 they*would be concentrating on the middle and lower end of the market. But what a difference six months*has made. They are now reporting a surge in demand for higher end real estate.

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  2. Sarahyoung

    Sarahyoung New Member

    It is true that last year Indian property market saw decline in the sale of luxury real estate but now the prospects of luxury real estate is improving despite the fact that most of builders and developers are preoccupied with their affordable housing projects. This phenomenon is not strange atleast in India because Indian is a vast and diverse country with many different segments of buyers. Developers caught the fancy of affordable housing because they wanted to meet the needs of lower middle class people when the high income group (HIG) buyers had reduced their spending due to recession. Once the threat of recession has reduced these buyers have again come to the market. However, I may not be wrong in saying that recession had no effects on the income and spending of HIG. However, they had reduced their spending due to a general trend of reduction in spending. This is the reason why developers have suddenly started talking luxury projects, even though most of them should ideally concentrate on their already launched affordable housing projects.
  3. neha

    neha New Member

    Ya i agree that last year Indian real estate saw demand for luxury homes as because of global economic slowdown and lack of liquidity builders were forced to focus on affordable budget houses as there were less buyers but now situation has changed as market has recovered a lot now and again luxury homes are in demand

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