Here?s what leads to the demand of luxury apartments amongst the millennial

Posted by Sukhbeersingh on August 8th, 2018

The urban metropolises today are a reflection of the country’s growing affluence and strengthening socio-economic condition. This is also reflected in the changing phase of the country’s realty market as today there’s a growing demand for luxury apartments. The growing demand of these luxurious and comfortable accommodation options is majorly driven by the ever rising living standard of millennials and the surge in the disposable income of entrepreneurs, corporate executives, software professionals, as well as scions of affluent families.  Most of these individuals choose to invest in , Delhi, Gurgaon, Ghaziabad, Mumbai, Pune and other financially flourishing urban destinations, to enjoy a life of utmost contentment and comfort.  People working in these cities usually earn on a large pay scale, and subsequently desire much more than just four walls and a parking lot from their house.

Here are some of the reasons why people choose to invest and set up their residence in luxury apartments:

  •  Status symbol: “First impression is the last impression”- This common quote holds much significance in this modern world.  The house where a person lives essentially reflects the quality of his/her lifestyle, and creates an impression in the minds of the others. A luxury residence is much more than just a postal address. In fact, it can assist a person to climb up the social ladder and become a part of the elite crowd, thereby enhancing his/her status in the society.
  •  Comforts and convenience: Luxury apartments are especially designed and planned to provide its occupants with the best possible conveniences and comforts. These apartments enable the residents to enjoy a host of amenities right at their doorstep, including the facilities of swimming pools, shopping centers, Wi-Fi connectivity, etc.
  •  Security: The highly advanced and state-of-the-art security features incorporated in luxury apartments are one of their biggest draws. In the modern world, the instances of theft and burglary have become quite common in large cities. Luxury apartments feature high-end security systems that comprise of trained security personnel and cutting edge security installations that ensure the highest level of safety of the residents and security of their assets.
  •  Good neighborhood:  Humans by nature are social beings. Hence, they prefer to live amidst people with whom they can interact and socialize with in a positive manner.  By setting up a residence at a luxury apartment people often find like-minded neighbors with whom they can efficiently socialize and mingle. Their children may also find peers of their age with whom they can play and even nurture their social skills.
  •  Housekeeping and concierge services: Time is most precious today as every other person is burdened with way too much to do that they often struggle to cope with due to paucity of time. In such a scenario some help in the form of housekeeping and concierge service comes as a welcome relief and most luxury apartments have such services in place. With a concierge in place, the residents do not have to look up for various mundane services like plumbing and laundry.  A concierge is equipped with a complete database of such professionals, and hence can contact them on the behalf of the residents whenever they receive a request. 

Therefore, the conveniences that people get to enjoy in these luxury apartments is the primary reason driving their demand. In order to check out luxury residential projects in Noida, Delhi, Gurgaon, Ghaziabad and other major urban cities, people can visit the websites of renowned real estate firms operating there as on their web portals they often update all the information related to their newly launched projects.

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