Upheaval in the Demand for Compact Apartments

 

Numerous factors are contributing to the increased demand for sky-high buildings and apartments and the housing crisis is at the top of the list. While the other factors include informal settlements, unplanned densification, housing shortages, and overpopulation. The most significant outcome of these factors is an upheaval in the demand for compact apartments. Let’s have an analysis of some of the reasons that have made the compact apartments a need of the hour.

To Bridge the Gap Between Housing Demand and Supply:

Pakistan is suffering greatly at the hands of the housing crisis and there is not a sufficient supply of houses as compared to the demand for housing. Studies show that urban housing demands 350,000 units per year while the formal supply is only 150,000 units. That is the huge gap that has to be covered. And here is the climax of the story! This housing demand is continuously increasing and statistically talking, housing demand is expected to increase from 1.07 million in 2020 to 1.24 million in 2025. This has led to a need for low-cost housing units so that housing can be provided to the maximum number of people as 50% demand for new houses come from the lower-income group. Sky-scrapper buildings that offer apartments and compact places for residence at cost-efficient rates are in great demand because of these factors.

Increasing Population Flux:

Increasing population flux is another significant factor that is contributing to increased demand for more economical housing such as apartments and flats. A significant population increase of 2.4% has been observed from 207.7 million. While the urban population has grown by 2.7%. Compact apartments can be a suitable solution for this terrifying problem.

A Case for Vertical Buildings:

According to the latest updates, vertical housing societies are one of the major objectives to be achieved by 2025. Moreover, sky-high buildings are the latest in trend for the construction and real estate industry. A few developers have taken a step ahead and have developed several significant milestones such as the Centaurus. While many more projects are upcoming and are under development such Nova One Lahore, as  and Executive Concept Heights.

A Substitute for Housing Societies:

Housing societies demand and consume a great area of land which may also use up agricultural land and may also leave little or no space at all for the upcoming generations. To save useful agricultural land, vertical buildings are great substitutes for housing societies.

Executive Concept Heights:

Executive Concept Heights is one of the most prestigious projects of Concept Homes that have been developed by keeping into consideration the modern requirements of vertical buildings and increased demand for apartments.

The vicinity offers all the modern-day amenities such as air circulation, green landscaped area, automatic lifts, gated community, unlimited car parking, uninterrupted power supply, and earthquake resistant structure which gives you all the reasons to invest and move into the locale.

Step ahead of the rest of the world and contact theMillennium Builders to reserve your space in the Executive Concept Height, and to avail free consultancy services.