Increase in Demand for Studio Apartments among Single Mavens
The luxury studio apartment saw a robust demand among single mavens and the increasing expatriates’ populace in Bangalore has given a fillip to it.
With the increase in studio apartments, let us take a look at the features of the studio apartments in Bangalore that are basically swab with separate sitting and sleeping areas and a small kitchenette. Regularly, studio apartments have larger kitchen with full service staff and custom-made food. Progressively, the studio apartments are burgeoning across the city.
With the huge increase in demand for studio apartments, many small developers entered the market with the launch of studio projects in North Bangalore, near Electronic City, Vijaya Bank Colony, and close to Bannerghatta National Park.
Studio apartments are regarded as a blend of boutique hotel and an extravagant corporate guest house. One of the real estate consultants who is specialized in buying and renting of studio apartments says that excellent services is provided for single mavens like maintenance, food, cleaning, ironing, security and many more. Many mid-level IT professionals prefer to rent or buy studio apartments, hence developers have come up with many projects in the IT hubs.
Usually, studio apartments in Bangalore is designed with a small sitting room, dining area, a small kitchenette, separate bedroom with attached bathroom, and a small niche in between kitchenette and bedroom as a work area. The size of the studio apartment ranges between 750 sq. ft. and 1200 sq. ft. and are priced from Rs.20 lakh to Rs.35lakh.
Most of the investors who invest in studio apartments are expatriates who stay in the city for 3 years and plan to sell their property when they want to go back.
The people who choose to invest in studio apartments are usually in their thirties, IT professionals, single and professionals working in MNC and localities like Vijaya Colony close to IIM-B and Bannerghatta National Park and E-City surrounded by greenery drives the demand for studio apartments among the single.
One of the expert says that investing in a studio apartment is a temporary investment with all the comforts like privacy, air conditioning, and lifts and residential localities like Vijaya Bank Colony are likely to see good appreciation due to tis established colonies, which are well-planner, quiet, and safe.
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