Affordable houses are the buzz word in the Real Estate Industry. In the current recessionary scenario it has become the rescue boat for the big Real Estate companies. They have always been focused on the luxurious real estate market for so long and had thought that the 10% luxury sector is more profitable than the low budget sector.
But what happened now? Why is everybody is talking about the affordable housing industry? The reason is recession and the discovery of the market which has been long ignored and has lot of potential. The price of these houses are not only twice or thrice of those in luxury housing sector attracting the lower income families but also promise faster delivery time and development. Though there are a lot of other impediments like the higher interest rate by banks given the risk of such loans, hence reducing the afford-ability of such people.
Looking the opportunity of this market, the major players are opting for tactical switch. The tata and other companies are now aggressively promoting their brands. There are some bargaining the people who have to bear. Like the location is generally a low-prices areas which are outskirts of the city and sometimes have only basic amenities to survive.
Anyway the customer will be the winner. Not only will he be able to move out of the rented flats to the owned flats but also can easily afford a house for the family. The only thing we have to worry is that this bubble don't burst !!!
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