Luxury housing market to reach greater heights in 2022

25 Jun 2022 CW Team

In addition to the alteration of people’s lives and attitudes, the COVID-19 pandemic fundamentally changed businesses and their operations. This is not new to the real estate sector.

Among other reasons is the fact that after the pandemic, the home ownership concept has seen a resurgence, augmenting the business as a whole.

Furthermore, larger and spacious homes are now in vogue, some of the credit goes to the social distance conventions that had been established as a result of the circumstances people were in as well as the emergence of the work-from-home culture.

The elite class and highly-paid professionals, whose main concern is not money but luxury, now increasingly come to favour the bigger, better, or luxurious residences, having a wide variety of amenities, transforming their ideal paradise into a reality. The amenities further became an essential due to the pandemic restrictions.

The other factor that has been associated with the pandemic, which has recently given luxury houses a push is the uncertainty. When the uncertainty has permeated an individual’s life, joint families, and among the elderly, they have formalised the distribution of their assets. This has led to a significant supply of expensive and luxurious homes with amenities in the market, especially in cities such as Delhi, Mumbai, and similar metropolitan areas.

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Also read: Macrotech to develop its first housing project in Bengaluru

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