2024-03-03 03:17:00
People have certain basic expectations when it comes to buying or building a new home. These fundamental expectations are seen to determine factors including growth and sales in the construction industry market.
There are changes with time in what people are looking for when they approach construction companies to buy a house. What kind of houses people prefer at a time plays an important role in this.
Until a few years ago, people avoided opting for luxury homes with three bedrooms. As a result, most of the construction projects stalled with three-bedroom houses not being sold.
Seeing this, construction companies reduced the number of three-bedroom houses in new projects and increased the number of two-bedroom and one-bedroom houses. As a result, the number of unsold unsold houses has reduced significantly.
People’s purchasing power and demand in practical terms are important factors when it comes to selling new homes. Construction industry must understand that these factors keep changing with the times.
Until a few years ago it was widely seen that many of the lower income groups were opting for one bedroom houses. It can also be seen that people with relatively high income have preferred to buy two bedroom houses.
In this case, it is said that there have been some changes among the people in the choice of houses after Corona and the curfew period. According to this, families with two children and those belonging to families with senior citizens prefer three-bedroom houses.
Although slightly more expensive than two-bedroom houses, people prefer three-bedroom houses as banks are flexible in their loan criteria. As a result, most construction companies are reducing the number of two-bedroom houses and increasing the number of three-bedroom houses, say construction industry engineers.
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