The appreciation of a property depends on several factors, and location is indeed a significant one. Generally, a property in a good location tends to appreciate faster due to higher demand, better infrastructure, and overall desirability. However, newer properties might also attract buyers looking for modern amenities and lower maintenance costs.
Here are some key factors that influence property appreciation:
- Location
: Properties in prime locations with good connectivity, social infrastructure, and amenities tend to appreciate faster.
- Demand and Supply
: High demand and limited supply in a good location can drive up property values.
- Future Development Plans
: Upcoming infrastructure projects and commercial developments can boost property values in an area.
- Quality and Features of the Property
: Renovations, modern amenities, and well-maintained properties can also contribute to appreciation.
- Economic Factors
: Interest rates, economic growth, and policy changes can impact property values.
So, while an older property in a good location might appreciate faster due to its established desirability, a newer property in a developing area could also see significant appreciation if the location improves over time.
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Does a project in a good location but older than 10 years appreciate faster than a project that is new but a few kilometres away from a good location?
Poornima
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1
5 months
2025-01-17T10:53:44+00:00 2025-01-17T10:53:45+00:00Comment
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