The lure of ownership
The HinduProperty prices increase even though buildings age. Most people prefer to buy new homes rather than used properties because older properties need more maintenance and repair and because new projects have better amenities and facilities. In high-quality such as integrated townships and gated communities, the developer has locked in the appreciating power of not only land but location, as well as reserved green open areas and amenity spaces that add further value over and above the base value of every apartment owner’s share of the plot. Property prices are influenced by overall inflation, which erodes currency’s purchasing power and causes products with in-built value to appreciate over time. And housing prices zooming anywhere between 5-15% in just the last two years, the investment sense behind owning residential real estate is far beyond dispute.
History of this topic
How housing prices are set
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