The real estate industry has witnessed an exponentially greater demand in the beginning of 2022, and this trend was seen to persist for the entire year. According to the predictions based on the broad market outlook, the real estate and the commercial sector of India will favourably rise in the coming years (Realty outlook 2022-23: Demand for duplex houses goes high on preference for lifestyle living at optimal pricing) . The need for modern living and cutting-edge architecture has been in demand, thanks to the several millennials and new homebuyers who are constantly on the hunt for investing in the sector. Demand for spacious and open homes like duplexes, which offer exclusivity and solitude together with typical luxury features, is
majorly on the rise.
According to the latest report by Anarock, the Q-o-Q (quarter on quarter) rationale suggests a two-fold surge in sales in seven major cities of India (Source: TOI). Among the list of cities, Bangalore is one such city majorly populated by millennials. This youth force has the propensity to lead diverse lives and have its ideal residence.
Talking about the trends that define the realty market of 2022, what remains common is the demand for aspirational and custom-built homes, upscale addresses, and cost-effective features. The trend suggests that people must select the correct neighbourhood. Locality plays a huge role while investing in real estate. A posh area usually consists of prestigious educational institutes, hospitals, cultural activities, luxurious amenities, and a community of like-minded people. Along with the typical luxuries, there is a growing need for larger residences that offer comfort and solitude.
This increase in demand has pumped real estate agents to design and build spaces that are more than just a house. For instance, Goyal & Co. | Haryana Group, a legacy real estate company, has been creating residential and commercial spaces that redefine living and workspaces through their excellent designs. During the first half of 2022, real estate developers introduced more than 28,000 units, each costing up to Rs 1.5 crore, in the top 7 cities (Source: TOI).
With a splurge of duplexes in recent years, demand for houses that provide a pleasant atmosphere with spacious rooms without compromising safety and security has increased significantly. Such objectives have therefore led to the rise in neighbourhood sociability. Today, it has become convenient to invest in duplex apartments in gated communities. It is well-defined that duplex homes offer a great lifestyle in a secure setting. As fewer members reside in these properties, the basic amenities offered include a swimming pool, leisure area, lawns, and gardens. As a result, the cost of maintenance is equally shared rather than falling solely on one person. The duplex has developed into an all-encompassing living space that satisfies all home-related ideals.
According to the market predictions, sales momentum is anticipated to start picking up in 2023 as buyers will continue to favour larger homes, better facilities, and a more enticing pricing that will keep them engaged in closing the transactions. The market for luxury homes is also anticipated to reach new heights in the upcoming year. Bungalows, row houses, duplexes, and penthouse apartments are a few such spaces that define the idea of a luxury lifestyle. The real estate market has recently gained resilience, and this trend is most likely to drive the sales. The preference for luxury homes with ample facilities by the homeowners is set to grow in the future. To meet the rising demand from investors and homeowners, developers are always on their toes to integrate the newer trends in their designs.
Contributing to the skyline of Bangalore, Goyal & Co. | Haryana Group has been creating landmarks for decades. Their residential spaces accommodate the new-age lifestyle essentials with a ton of facilities and technical developments to meet the needs of a more polished and harmonious living.
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