Until early 2001, large houses with opulent amenities at popular pin code or prime address was perceived to be luxury. But in the last few years it has been redefined with the advent of high-end technologies, international brand associations and customised offerings and that is showing strongly in the real estate space.
There has been a complete transition in buyers’ perception when they invest in a property. An upgraded lifestyle closer to central business districts has de-cluttered the availability of luxury housing from a few restricted pin codes, making it location agnostic.
Considering the huge influx of migrants and consistent rise in income levels, a comfortable residence is a necessity for working people. This has led to a blurring difference between luxury housing of the last decade and a necessity during current times giving way for developers to focus on Practical Luxury.
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Denne historien er fra September 28, 2019-utgaven av Businessworld.
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