In Indian real estate, there is a conscious shift in the definition of luxury homes. Before the last decade, large homes with extravagant amenities at popular zip codes or prestigious addresses were considered luxury. However, it has been redefined with the introduction of cutting edge technologies, global brand associations, and customized offerings. Which is strongly evident in the real estate market, particularly in the final tourist destinations in India such as Goa.
The newfound perception of “luxury” has universal undertones
Consumers’ perceptions of real estate investing have completely changed. Availability of luxury residential developments and residences with a few limited pin codes has been regulated by an updated lifestyle closer to core business centres, making it unlocated. There has also been a massive influx of immigrants from other cities and countries and a steady rise in the level of disposable income. Workers need a decent place to live. As a result, the distinction between luxury and need has become more blurred. Luxury is no longer just about an extravagant lifestyle or a huge investment. Luxury today has many aspects. It appeals to today’s purpose-driven millennials and high-achieving clients, who view it as a mirror of their accomplishments, goals, and tastes. Consumers are fully aware of the international design and development standards due to their wide awareness all over the world. Clients looking for high-end projects want the best possible deal.
Trends shaping the dynamics of Indian luxury homes
The global village mentality has entered urban life through the coherent connection that the Internet provides. In the internet age, the rise of millennials and millennials who view different cultures, fashions and residential lifestyles has increased. We are exposed to the view of high-rise penthouses in New York City, street-style condominiums in downtown Melbourne, or classic British bungalows through TV series and videos. This has definitely created a perfect urban idea of what luxury lifestyle and housing should be like in India. International flavors are exotic as they paint a new panorama of the luxury real estate industry in India. Here are some of the prevailing trends among luxury home buyers in India today:
Larger living spaces
One of the most prominent market trends is the desire to buy larger homes. The pandemic has changed our lifestyles. Today, employees are increasingly working from home (WFH). As a result, individuals must separate their professional and personal area at home. The focus on general quality of life is also notable, with a special focus on health and comfort as we are spending so much time at home due to the pandemic. Separate rooms for relaxation and exercise, as well as larger terraces, are among the desirable characteristics. Because of their desire for a higher quality of life, families from the middle and upper classes are moving to larger homes.
Gateway to Extravagance: Walled Societies
Apart from the premium features, another factor that boosts the demand for luxury homes is their location. Since security and safety are the most important factors, most people prefer gated luxury apartment complexes that do not require them to leave. Unlike luxury homes, gated communities offer a variety of amenities, while some are basic and basic and others are exposed. Luxury gated communities provide a more holistic living experience because they feature a variety of open spaces for walking and running. Movie theaters, medical facilities, assisted living homes for seniors, supermarkets, shopping malls, hotels, and schools are some of the luxury amenities that are available.
Convincingly casual and informal in nature
Luxury Indian homes are moving away from traditional designs in their dining and entertainment rooms. Consumers seem to prefer less formal and more relaxed settings. More organic materials and fabrics are also used, making the living spaces more comfortable and long-lasting. It is important to have places in your home where you can sit quietly and enjoy the peace.
Office-centric culture comes home
International work cultures have had a tradition of working from home for a while. Therefore, home office standards have also been part of the way people live in their homes around the world. Even in India, it is important to have office space at home. As more people work from home, a working office environment is more important than ever. The purpose of these places has become less important because their aesthetics and ambiance take precedence. Modern floor plans incorporate these spaces so that they can be used more effectively. This custom home office design uses the latest technology and creates a smart space that looks good and stylish. It is also very useful and has everything you need.
As people spend more and more time at home, they want to improve their living spaces. In India, people want to live in luxurious and environmentally friendly modern homes. India’s move towards international standards and styles has spread in the real estate market, as futuristic global styles are becoming popular in high-end homes.
The opinions expressed above are those of the author.
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