November 27, 2023
Individuals and families today are increasingly drawn to investing in luxurious homes that offer not only opulent interiors and premium amenities but also represent a wise investment with potential long-term appreciation. In essence, most luxurious properties located in prime locations turn into potential wealth-building assets. With urbanisation, rising disposable incomes, and an increased number of high-net-worth individuals, the demand for a home with better security, privacy, sustainable amenities, and an elevated lifestyle is rising. There has been a paradigm societal shift, especially post-pandemic, towards valuing quality living and new experiences. And these experiences and ways of life ultimately contribute to the person’s overall well-being, happiness, and satisfaction.
People are moving towards environmentally conscious living, with sustainability fast becoming a key aspect of real estate investment. A range of factors are propelling this growth. With an increasing awareness of various environmental issues, potential homeowners seek sustainability driven by eco-friendly living solutions. Additionally, the desire for cost savings and energy efficiency in the long run justifies the need for the integration of sustainability within the home. Moreover, government initiatives for green building projects are an added reason for adopting sustainable amenities and features. Real estate developers have begun incorporating eco-friendly materials, smart design, and energy-efficient technologies like solar panels, community gardens, and water harvesting systems into their building designs.
Recent studies projecting a rise from 7.9 lakh HNIs in 2022 to 16.5 lakh in the next five years. These HNIs are fast becoming a target market for real estate developers. This is proving to be quite a lucrative market as HNIs opt for premium residential properties equipped with modern services and amenities, viewed as a status symbol. It is also a secure investment as it serves as a diversification strategy, thereby providing a tangible and stable asset that could lead to capital appreciation.
In tandem with looking for a home that exudes luxury yet promises privacy, individuals and families are placing emphasis on nurturing communities as well. Real estate developers in Goa like Rainforest Estates excel at creating holistic living spaces that foster a sense of community and belonging. We achieve this through the inclusion of recreational areas, sustainable amenities, communal spaces, and common gardens in the project design. The quality of life extends beyond the opulent attributes of the homes. Like developers, investors are also recognising the need for a more integrated and like-minded community.
Health and wellness are top priorities, even when it comes to investing in a home. People are moving towards ensuring their new home is in line with a healthy lifestyle. Future homeowners are willing to pay for features to help them achieve their health and wellness goals. People aspire to have a home bathed in natural light indoors, along with better ventilation systems, improved air quality, and a myriad of other wellness features and amenities. Elements like indoor air purification systems, access to outdoor spaces and well-kept green landscapes, ventilation systems, glass doors and windows to let in plenty of natural lighting, and so on are increasingly being implemented.
Millennials today view purchasing a house as an investment, as opposed to the older generations perceiving it as just a commodity. Environmentally conscious and tech-savvy millennials possess a higher purchasing power than their predecessors, and they want smart and efficient spaces. They are on the lookout for home offices, open and green spaces, a gym, recreational areas with entertainment zones, and balconies along open terraces. Virtual tours and digitised processes make investing in real estate more enticing for the younger generation. Additionally, properties that offer logistic convenience, like proximity to healthcare services, shopping centres, schools, and offices, yet are surrounded by nature, are the most sought-after.
The luxury home sector is continually evolving, and it is important to keep oneself informed of the changing trends to make better investments.
Trends That Will Rule the Luxury Home Segment