One of the major problems faced by home buyers nowadays is the skyrocketing prices of homes. While affordability seems to be a problem specific to the buyers, it sure affects the developers as well. The demand for high-priced residential units is limited to high net worth individuals, but they constitute only a fraction of the client base. A larger percentage is that of the middle income buyers who are looking for something better in rather affordable prices.
To suit the affordability of buyers, builders tend to reduce the sizes of apartments. They tend to compromise on the size of their product than the quality of it. As it is becoming difficult for buyers to buy expensive homes, it is also hard for the builders to sell such projects. So they have found a way out. This concept of selling smaller units is more or less inspired by the ‘Sachet Marketing Strategy’ of the FMCG industry. Builders are making smaller sized apartments without reducing the price per square feet, which ultimately makes the apartments affordable for the home buyers. [Read more…]