Saying yes to luxury

strider · Posted: Mon Jul 27, 2009 6:31 pm Post subject: Saying yes to luxury

To own a house is every man's dream. And to some, a home is much more than an abode. It is a statement of one's material success, lifestyle and social standing. Naturally, such people may dream big and translate it into reality too.

The present scene makes it possible for even young professionals holding jobs in IT and other promising fields to invest in houses or flats costing up to Rs.25 lakhs with ease, thanks to their high-salaried jobs and the liberal and flexible housing loans provided by banks and private institutions.

But then what about owning an apartment worth Rs.30 lakhs or more? Yes, even properties with big price tags are increasingly finding takers. While around 50 per cent of the buyers of Cochin apartments are non-resident Indian's, the rest are those who do not go believe in budget options. Some, who are hesitant to publicly admit having made big investments, are, in reality, going for the so-called luxury apartments.

Location plays an important role in influencing the price tag. Waterfront apartments are also in high demand. So, are locales that give a better view of the city. Most high-rises have two penthouses and others, duplex apartments, which are costly, compared to other apartments in the same building. How far this will hold good remains to be seen, given the busy and somewhat insulated lives of people living in big cities such as Kochi.