Luxury Apartments vs Affordable Housing: What sets them apart
In recent times, the choice to buy houses has grown multi-fold, be it in the affordable housing or the luxury apartments space. Metropolitan cities, including Hyderabad, have seen multiple trends in the housing segment that target a growing segment of home buyers. With growing affluence levels and a rise in aspirations, there is greater awareness among prospective buyers.
While the middle and salaried class prefer affordable housing, there are some who go for luxury apartments. Luxury apartments are the epitome of comfort and convenience and offer better amenities as compared to regular apartments. Of course, one needs to pay a higher price for all that comfort!
Let’s look at what differentiates luxury apartments and affordable housing:
- The price of a luxury apartment is much higher, especially due to the amenities offered. Besides, the appreciation rate on an average, can range anywhere between 3 and 7 per cent. In metropolitan cities, affordable housing is preferred by the middle-class, but the amenities offered are basic. The annual appreciation for these houses is anywhere between 2 and 4 per cent. Speaking of rentals, luxury apartments fetch 40% higher rentals than regular apartments.
- Coming to the investment value, luxury apartments in a posh location are an added advantage. There is at least a 40% premium as compared to regular apartments. In the case of affordable housing, these flats offer consistent rental income, since most of the population prefers this option. Of course, the price volatility is much higher in the case of luxury apartments, since prices fluctuate regularly. When it comes to affordable housing, the pricing is steady and does not fluctuate as much; stability is seen here!
- In terms of space, luxury apartments are way more spacious and easily have three to four rooms. At times, these houses are well-furnished too and all you do is move in! If you opt for affordable housing, you generally live in a compact space and with a large population. The floor to ceiling height in luxury apartments is not less than 12 feet, while the regular apartments have this ratio somewhere between 9 to 10 feet.
- Talking about amenities and security, luxury apartments have everything top notch in terms of technological advancements. In the case of affordable housing, the scenario is not the same, since the builders are on a shoestring budget. The basic amenities are offered though and there is a sense of community that’s unmatched.
Hyderabad has a range of housing options, including luxury and affordable housing by reputed builders like Aparna Constructions. So, what are you waiting for? Take your pick and buy your dream house today!
Last updated on December 27, 2018