As the Inventory is piling up in the real estate sector and hitting record levels, developers seem to be favouring smaller units for catering to the demands of property buyers. Reduction of residential property size in Mumbai has helped in making real estate a bit affordable for the larger section of buyers. This is because Mumbai’s property rates are too high for a middle-income buyer to afford a decent 2-3BHK home in the city.
1 BHK apartments in Mumbai and other cities like Delhi and Bangalore are getting more investment. Another reason behind the preference of 1 BHK flats is increase and decrease of rates in the real estate sector.
Many metro cities like Mumbai have started to follow the trend of compact houses. According to the real estate experts, the rising trend of small houses can also be attributed to young buyers who prefer small units because such units fit their budget and also because of convenience.
More families are opting to be nuclear. Also, there is a large percentage of working population with double income and no kids. These people don’t need big spaces but small apartments with all the necessary amenities at a centrally located place. A small and cosy apartment gives them the comfort and peace in life. Another benefit of small houses is that it can sell faster. Small houses can be easily put on rent as students or office goers prefer such units on rent. Also, small flats are easy to maintain.
According to many reputed property developers, they have got positive reviews from investors and buyers alike for smaller units. There has been a good increase in the number of small-sized residential property in Mumbai which can be considered good news for middle-income buyers.
1 BHK apartments in Mumbai and other cities like Delhi and Bangalore are getting more investment. Another reason behind the preference of 1 BHK flats is increase and decrease of rates in the real estate sector.
Many metro cities like Mumbai have started to follow the trend of compact houses. According to the real estate experts, the rising trend of small houses can also be attributed to young buyers who prefer small units because such units fit their budget and also because of convenience.
More families are opting to be nuclear. Also, there is a large percentage of working population with double income and no kids. These people don’t need big spaces but small apartments with all the necessary amenities at a centrally located place. A small and cosy apartment gives them the comfort and peace in life. Another benefit of small houses is that it can sell faster. Small houses can be easily put on rent as students or office goers prefer such units on rent. Also, small flats are easy to maintain.
According to many reputed property developers, they have got positive reviews from investors and buyers alike for smaller units. There has been a good increase in the number of small-sized residential property in Mumbai which can be considered good news for middle-income buyers.
