Rising Demand For 1BHK Apartments In Metros

By Investoxpert | 23 Nov 2023 | Real Estate

The demand for 1 BHK Apartments sis rising in major cities like Delhi, Mumbai, and Bangalore.

Due to an increase in migration in recent years, including single professionals and nuclear families,

In major metropolises like Delhi, Mumbai, and Bangalore, 2 and 3 BHK apartments continue to be the most sought-after floor plans; but, in recent times, there has been a surge in demand for 1 BHK apartments. A growing number of young professionals are choosing studio apartments, which usually have a living room, a bedroom, and a kitchenette all in one area, according to a recent trend seen in metro areas.

Why There Is An Increased Demand For Smaller Units?

Due to the widespread misconception that there is a lower demand for 1BHK apartments than for 2 and 3 BHK flats, experts note that developers have not yet built 1 BHK Apartment In Noida in high-rise towers. Building construction businesses do not want to take the chance of having studio apartments in buildings that are tall.

However, a number of stand-alone buildings give purchasers this alternative, which makes it simpler for the younger working population to select the 1BHK apartments of their choosing.

Young professionals are more likely to want to live close to their places of employment in major cities like Bangalore, Mumbai, and Delhi. Flats with one bathroom become perfect for these professionals.

Affordability is yet another significant factor contributing to the rising demand for 1BHK apartments. The cost of a 1 BHK In Noida For Sale has not increased dramatically as other unit sizes have. It has benefited from this.

While young corporates, particularly those who are migrants from out of state, prefer to live close to their place of employment and choose one-bedroom apartments, nuclear families searching for more affordable options are also starting to follow this trend.

Another major factor contributing to the hassle-free ownership or rental of a 1BHK property is easy maintenance. Experts surmise that another motivating reason for buyers to purchase a 1BHK apartment is the ease of moving to one.

The demand for 1BHK flats is further supported by the ease of access to loans. Getting a loan approved for a smaller sum is simpler. Ninety percent of approved loans in the housing sector are for less than Rs 30 lakh. Compact dwellings become a viable choice in urban areas under such circumstances.

Although real estate trends can occasionally be arbitrary, 1BHK flats are now experiencing a surge in popularity. It should be emphasized that a 1BHK apartment cannot be evaluated based solely on return on investment because that is not a consistent factor with these apartments, which are only booked for personal use.

The prevailing market mentality also suggests that 1 BHK For Sale In Noida success is a result of issues elsewhere. According to experts, the market for 2 and 3 BHK apartments has generally showed a downturn, which has made it advantageous for studio apartments.

The Growing Preference For Studios And One-Bedroom Apartments In Indian Cities

Over the previous six months, sales of smaller units—such as studio apartments and one-bedroom bungalows—have surged dramatically in India. The Phenomenon was previously exclusive to Mumbai, the financial center of India. Because Mumbai is known for having little room, the smaller unit sizes were popular there.

However, it has been observed that India is now moving toward buying smaller units, with notable transactions happening in Bengaluru, Pune, and Delhi-NCR. In Bengaluru and Delhi-NCR, Square Yards alone has sold more than 1500 units in the last six months.

Factors Attributed For The Rise In Popularity Of 1BHK & Studio Units

Participation Of Youth

In the past, buying a house was typically done when one was close to retirement. But as incomes grow and people become more conscious of real estate as an investment class, more and more young people are becoming interested in house buying.

Young people are increasingly drawn to smaller apartments like studios and one-bedroom bungalows, particularly those who have lived overseas and are accustomed to a modern lifestyle. Particularly Studios are thought to be highly well-liked by bachelors.

Simple to Handle and Keep Up

Smaller units are generally easy to manage & maintain. It meets the needs of the younger generation, who are time-constrained and have hectic schedules that don't always allow for cleaning and maintenance of the home. Similarly, time is a scarce resource among young couples in which both spouses have worked, which leads to a preference for smaller units.

Novel Financial Schemes

An increasing number of investors are choosing smaller apartments, such studios and 1 BHK In Noida, as well. These kinds of units are inherently friendly to investors. They come with fresh, intriguing investment strategies in addition to smaller ticket sizes. In order to entice investors, developers are creating new designs with alluring schemes including guaranteed rentals, subvention, and guaranteed return.

Conclusion

The advantages and benefits of small homes outweigh the sacrifices made in favor of the comforts of larger residences. To start with, we will spend less time traveling and commuting as we will be nearer to our place of employment. The second benefit of serviced houses for socially active people is their convenience.

The largest employer of young people in our nation is the IT sector. In this market sector, cities like Bangalore, Hyderabad, and Pune are exhibiting the fastest development. Reselling is simple if you intend to transfer for a better carrier opportunity because there is a sizable end-user base.

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Rising Demand For 1BHK Apartments In Metros

Why There Is An Increased Demand For Smaller Units?

The Growing Preference For Studios And One-Bedroom Apartments In Indian Cities

Factors Attributed For The Rise In Popularity Of 1BHK & Studio Units

Lets Get Your Dream Home

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