In real life, it's reflected in their star-studded realty ventures. They snap up luxury properties in posh pockets, shaping buyer sentiment of high-net-worth individuals (HNIs) and retail investors, ultimately boosting sales and market growth.
Celebrity real estate purchases are driven by lifestyle appeal in hotspots like South Bombay and Bandra, capital appreciation potential, portfolio diversification, and rising status from movie and OTT successes.
Square Yards, a proptech firm, noted that when a celebrity acquires a property - commercial or residential - it tends to boost market sentiment surrounding that asset.
"Real estate market is quite sentiment driven. Hence, when a celebrity purchases a property, it has a positive impact on the market around the particular property or area. Such deals are made with major developers, through research on returns and other particulars. However, people who intend to buy such properties are equally affluent buyers," said Renuka Kulkarni, head, Research, Square Yards.
This story is from the November 04, 2024 edition of Business Standard.
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This story is from the November 04, 2024 edition of Business Standard.
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