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The real estate industry in Gujarat looks in good shape, with the demand for high-end apartments increasing significantly. Traditionally, people have been looking for mid-range or affordable homes in most cities. However, the demand for luxury homes in Gujarat would make realtors happy. Particularly, the pandemic had lowered the spirits of property buyers significantly, and the industry seems to be gradually coming out of the shackles.
The demand for high-end residential properties spreading over 4.5K to 10K Sq. Ft. has increased significantly. Moreover, plotting schemes have also witnessed high demand in the state. Currently, a significantly higher number of people are operating from their offices. This has also sparked a high demand for commercial space in the city. Leased and rented commercial properties are also undergoing a high demand. This is a positive sign for the real estate industry, which had been reeling under the impact of the pandemic over the last couple of years. It marks the revival of the demand for luxury homes and high-end commercial properties. It appears that people have got back the purchasing power and confidence to invest in real estate, coming out of the slow growth during the first two waves of the pandemic.
The real estate developers also reported a high demand for luxury villas and land-oriented residential projects. It seems that a particular section of property owners is looking beyond apartments. They have a fascination for an aristocratic lifestyle, which is driving the sales in other sectors of residential real estate. In one of the real estate expos in the state, a large number of residential property owners had gathered to check out the new inventory. This reflects their interest and enthusiasm to venture into the luxury residential real estate sector.
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