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Investment in luxury real estate is capital preservation, not appreciation, say industry experts
Luxury in the times to come will certainly thrive, says Ananta Raghuvanshi, Senior ED, Sales & Marketing, Experion. Speaking at Realty Webseries, a Realty & More and ICCPL initiative, Raghuvanshi said that there will be a situation where luxury housing units will be in short supply because a lot of builders, developers are moving to the mid segment and also to the affordable segment.
Speaking on sales of luxury houses during the lockdown, Karan Kumar, CMO, DLF Ltd said that the company has sold luxury housing units worth Rs 200 cr during the period.
the last 3-4 years and with pandemic, I don’t see prices will suddenly start going up. Capital appreciation will still be distant for the time being”, said Wadhwan. On the same issue, Amit Goyal, CEO – India, Sotheby’s International Realty said investment in luxury housing is more of a capital preservation these days than the appreciation.
“In times of crisis appreciation is not the first parameter for any investor. In a nutshell demand may rise for end use, but it will take time”, added Goyal.Elaborating further on real estate investments, Mona Jalota, Founder, Krypton Global Investments said investors who are investing in real estate shall set their benchmarks for themselves.
“There is always going to be somebody who has bought at a higher price than you and somebody who has bought at a price lower than you, so you have to make peace with what your budget is and take a decision and take a decision to buy or sell when you make your own parameter”. On asking about the better option between condominium and farmhouse, Yukti Nagpal, Director, Gulshan said that condominium living is definitely on the rise.
“ You will never get a farmhouse in the middle of the city, but you can get very nice apartment in the heart of the city”, added Raheja.
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