What are Duplex Houses?
As evident from its name, a duplex consists of two separate areas in a single building. In most western countries, a duplex can house two different families, but in India, a single-family lives there normally.
A Duplex home is mostly a two-story house with a kitchen, living and a bedroom on the lower floor, and a master bedroom on the top floor. It can also be a single-story accommodation with two separate areas side-by-side.
The Rise in Demand of Duplex Houses
As the pandemic spreads shockwaves in the real estate sector worldwide, Indian property markets are also affected by COVID-19. The number of people following the “work from home” policy is increasing and hence the need for more space in the existing residential setup.
Those who preferred condos and apartments are now looking for stand-alone housing units. People who had smaller houses are looking for duplex houses now. It has resulted in a swift spike in demand for Duplex houses, with the same trend to continue in the future. The real estate brokers and construction companies have reported a visibly increased frequency of queries from serious home buyers for duplex houses in the past year.
Effects on Market
This rise in the demand is not only for the duplex houses but for bigger homes as well, may it be inside and in the outskirts of the cities. In some areas where the availability of houses was already low, prices have increased by around 20%. In other areas, where the vacancy rate was already high, it is still possible to find a duplex at a reasonable price. In the next year or two, the selling prices have been forecast to stay on the rise with mixed reactions to the pandemic from the real estate market in India.
Hope this was helpful! Also, did you know the benefits of a small house plan?