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OTHER ITA SITES:
Brighter Outlooks On Modern Living Spaces
Manchester property has been the most transformed British city that would see a major redevelopment in recent years. It has a much higher profile compared to Birmingham, Liverpool, and Leeds even if they have built many flats to reinvent themselves.
There are many factors that can contribute to this – the 1990s Olympic bids and the success of the Commonwealth Games of 2002 have raised Manchester’s international profile. Also, the redevelopment of Salford Quays area has enticed several BBC departments to relocate to. In short, the city has not been out of the news and it has generated an enhanced image.
Ever since the start of the early 1990s, the city has already gone from just a few hundreds that are living in the centre, to as many as thousands that are living in new apartments – whether in converted old buildings or in striking new ones – such as the Beetham Tower which is the tallest building in the whole city. Good developments are also happening in inner suburbs such as Old Trafford, Central Salford, Ardwick, and Ancoats.
Some might think that property market has already slowed, and developments will come to a halt. But those who deal with the day-to-day market do not believe so.
According to Irene Thomas, the operations manager of Auction Finance, the rental market in Manchester is still good due to the rise of buy-to-let investors. The same idea has also been said by Tom Rogers, who is a consultant of residential investments in the area.
Based on these expert opinions, it would look like further developments are still continuing to be optimistic than some can imagine. The fact that there are 100,000 students in the area would mean that the buy-to-let market would make sense for investors since they can already cover their mortgage through the student’s rent. The market will also receive a boost from parents that wants to buy a flat for their children.
Jaipur is both a hi-tech and a heritage city. As such, its real estate market was always attracting end users as well as investors. The majority of buyers are the middle to upper middle classes, and in the last three years, residential values have escalated three times already.
A significant trend in the residential market of Jaipur is the fact that people are now moving up from villas to apartments, maybe primarily because of security or safety. In fact, Jaipur Development Authority said that two to three years back, the thrust was in plotted development, but now there is an apartment craze going on.
Because of rising land costs in Jaipur, the real estate focus has already shifted to peripheral areas. However, this has only been true to real estate developers and not from the end users themselves.
According to a Narvik Nirman employee Vivek Jain, there are a lot of developers launching township projects but the one making speculative investments are mainly investors rather than the end user. Peripheral areas usually lack infrastructure facilities and connectivity. For the middle income group, it is very difficult to choose between the periphery and the city because they cannot afford a car to travel long distances like the upper income group.
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Travel Part B