Bangalore Luxury Housing

Goals

To find insights on luxury apartments in Bangalore. These could include selling points and buyer profiles. The information will be used for marketing purposes.

Early Findings

Luxury apartment sales in Bangalore

  • In cities such as Bangalore, it is the middle-class group that represent a growing market for premium or luxury housing, driven by their desire to expand their family living space, as well as upgrading their lifestyle.
  • Initially, the market was focused on high net worth individuals and ultra-high net worth individuals, Bangalore, being the third largest hub of high net investors in India.
  • However, luxury housing developers introduced affordable luxury offerings to appeal to a much larger segment.
  • In Bangalore, areas with this type of projects include Whitefield and North Bangalore.
  • The growth in demand for luxury properties in general is prevalent in areas such as the Secondary Business District, CBD area Outer Ring Road, and North Bangalore.

Most important selling points for people seeking luxury units in Bangalore

  • Essential selling points for premium housing in Bangalore include the development of quality products with lower prices, a concept that is sometimes described as "affordable luxury".
  • Developers are marketing high-end facilities and luxury features at reasonable prices.
  • Buyers have to compromise on space and type of area but they get luxury features.
  • Developers have to reduce their margins but bank on volume.
  • The development of this concept is boosting the market.
  • Luxury property developers had to expand their segments due to a downturn in the market and a rise in unsold luxury property stock of 6% in Bangalore.



Proposed next steps:

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