Why Holiday Homes Are Being Considered Seriously
The residential real estate market has shown great resilience in the year 2021. One of the major reasons for the increased demand in the luxury segments can be attributed to the changing needs and mindsets of the people. The pandemic and the uncertainty that it caused, has resulted in an increasing desire among people to own a house of their own. This coupled with low-interest rates offered by the banks and stamp duty cuts in some key markets has helped to keep the demand in the real estate segment steady during this testing time. It has also been observed that a lot of people have started equating the ‘quality of life’ with ‘luxury living’.
As a result, demand for bungalows, villas, farmhouses and spacious apartments have seen an uptick. New launches in the luxury segment have also multiplied in the first half of 2022. Another factor that is driving the demand in the segment is the non-resident Indians (NRIs). It is being noticed that a large chunk of Gulf-based expat Indians have started to invest in residential properties in India during the last year.
