Pandemic Refines Private Living with Rise in Luxury Housing

BY Realty+

Luxury Housing bespoke premium pin code, fascinating scenic views, modern amenities, elite neighborhood, design innovations, branded goods to raise the bar of elite consumer focused groups. The luxury housing market is swaying post pandemic with high confidence index and inclination towards elevated lifestyle. Interest in luxury homes encompassing spacious apartments, penthouses, villas, and bungalows has outgrown post covid on the back of refined private living.

The increase in the disposable income, savings, and garnered traction longing to own a spacious home has been exacerbating among the HNIs and NRI consumers. The evolution of the influential customer mindset is stimulating demand for investment in luxury homes. 

Contemporary customers prefer a well-established living ecosystem with a myriad of value-added services as part of their holistic living. These progressive audiences are skewed towards personalized and fully serviced apartments including all utilities, concierge, and security services as an inclusive wholesome offering. 

Change in consumer appetite is nudging branded developers to tailor-made their product curated to adhere to new demand economics. The new normal way of living has brought a radical change in consumer behavior and preferences which has reoriented vision towards innovation meeting luxury. Investing in a beaumonde way of living augments the wellbeing and repute of the patrons.

The NRI bandwagon has rebalanced their investment portfolio and reoriented their real estate investment instrument. This is reflected with the rise in absorption of luxury homes by NRI homebuyers in recent years to reap healthier returns in the stipulated time frame. Along with the HNI audience, the increase in affluent homebuyers who desire to enjoy superior lifestyles has been on an upward trajectory. 

The influx of investment witnessed is driven by emotional as well as financial stimulants. Today’s multicultural homebuyers shortlist their purchases based on developers ‘credibility, timely delivery, financial strength, quality, improved corporate governance and compliance mechanism.

The real estate industry is experiencing a radical shift in its modus operandi. The sector entails a close integration of space and services management. The establishment of such inherently advanced services in the newly curated product will help deliver unrivalled customer experience and help earn customers lifetime value. Brand advocacy from happy customers is a shot in the arm for the developers to strive for excellence in the cut throat competitive world.

Luxury homes epitomize social status and lifestyle statements. Associating with pioneer global players augurs well for both the stakeholders to foster customer affinity in the long run. Penchant for luxury living is a big-ticket purchase penetrating its market share with sharp rise amongst the urbane rich Indians. 

Indian real estate industry trends have a positive impact on the luxury realty demand, and it is estimated to be one of the fastest growing realty markets across the globe. In the world of uncertainties, Indian economic growth is a bright spot with an exceptional performance graph.

Tags : Pandemic Private living Rise Luxury Housing Dr Niranjan Hiranandani MD Hiranandani Group National Vice Chairman NAREDCO