Premium residential properties again on buyers list
There is good news — and it’s coming from above. Across the country, cities are reporting a revival of sales interest in premium residential properties. In many cases, this is happening, even though the values have remained mostly unchanged. A few cities, however, have attributed the revival to a marginal fall in prices.
In the premium segment, most of the interest revolves around main city areas and resale properties. “Yes there is a movement in the premium segment but it still stands lower than in the Rs 30-40 lakh segment. Part of the demand for premium buys is coming from the secondary market and partly from the under-construction properties,” says Anshuman Magazine, CMD of global real estate consultancy CB Richard Ellis.
In fact, this time round it is not speculators but end-users who are bargain hunting. An example is the COO of a leading multinational company in Delhi who had been looking for her dream home for three years within a budget of Rs 1.5 cr. But when she found the 3,000 sq ft apartment within her budget, she did not think twice about putting her money in.