Demand for studio apartments increase
Studio apartments basically comprise of single large room that include the bedroom, living and dining areas, with small kitchen and bathroom. Studio apartments are preferred largely by bachelors and small families.
Today, the demand for studio apartments is increasing. Software professionals and executives who have generally spent years stationed in a metro and find that they prefer to pay EMIs on an affordable, maintenance-friendly living unit rather than paying high rent for flats and service apartments.
There is an inflexible and steady demand for studio apartments, both in metros and tier 2 cities. Studio apartments are the most cost effective residential option for people who prefer to own a house rather than rent.
Another reason for the high demand for such units is the ease to rent out or sold at a profit on the secondary market. Moreover, these kind of apartments do not require maintenance cost and make for hassle free purchases as well as resale.
Studio apartments is the logical choice for those who cannot or do not want to buy larger units. These kind of apartments are popular with mid-management level buyers who tend to stay in certain city for extended period of time rather than paying for service apartments or hotel rooms.
Studio apartments are also preferred by single working individuals and newly married couples who need to set up a home immediately and sell them off when they no longer need them. The demand for such units on both primary and resale market is consistently high.
When there was a slowdown in the real estate market, the only residential configurations that continued to see demand were studio apartments and cost effective 1 BHK flats.
Studio apartments are still the fastest moving products on the market. The demand for fully furnished studio apartments is even greater and many developers are offering these as well.
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