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Homebuyers today seek residences that go beyond aesthetics, offering an environment that enhances their lifestyle while preserving the world around them. The catalyst towards this shift, in real estate preferences, has been driven by the Covid-19 pandemic, which accelerated the move towards both mental and physical well-being, combined with the requirement for greater privacy and space in an environmentally friendly ambience. While pre-pandemic, the focus was on getting the most space in terms of the carpet area, today, prospective home buyers aren’t content with just the size, but also demand a space that can evolve over the years, or even generations, as per changing needs.
What’s driving the shift?
India's real estate industry is experiencing a shift in consumer preferences, driven by rising disposable incomes and a thriving economy. With a significant youth population eager to achieve their aspirational lifestyle, the demand for premium living spaces is rapidly transforming the market.
The idea or the meaning of wellness is not just limited to a regimented exercise regimen at the gym or a spa within a housing complex. If earlier, well being meant a 100% focus on physical health, today, mental and emotional wellbeing occupy an equal stature in individual wellness. Which is why luxury home buyers are looking at not just the space within the house but also outside, that is to say, the community environment which fires up their creative juices, allowing them to be both experimental and imaginative.
Wellness-focused design is now a key attraction for high-end properties, as the demand for spaces that offer serenity, relaxation, and rejuvenation skyrockets. The evolving emphasis on well-being is redefining the essence of ‘Luxury Living.’ Today, people are willing to invest in open spaces beyond their home's walls, considering the needs of all family members, whether the elderly or the young.
Housing for the affluent therefore needs to be viable, both in terms of fulfilling the homeowners' need for a harmonious co-existence with the immediate environment as well as in terms of having a zero-adversarial impact on the larger ecological framework. This has led to a demand for homes with a net zero carbon footprint. This commitment to green luxury ensures that the homes themselves are future-proof and climate-resilient.
Home A Style Statement
The increasing demand for villas and independent houses within gated communities highlights that luxury homebuyers seek more than just a residence, they desire a lifestyle enriched by community living. These homes are thoughtfully designed to meet the evolving needs of their owners, ensuring both present comfort and future adaptability.
While the initial thrust for the demand for luxury housing was certainly propelled by an aspirational lifestyle, as incomes grew, going forward, the market for uber luxury housing will be driven more by people looking for an integration of their lifestyle with their immediate and surrounding environment which also grants them exclusivity, coupled with wellness of both the body and mind.
Those investing in luxury estate living are investing in building up a legacy for future generations, who will inherit sustainable living as a way of life. The buyers of luxury homes are not just seeking extravagant living spaces; they are searching for a sense of legacy and a unique, personal connection to their residences, which they can call their own and pass down proudly to the next generation.
