Massive radiant glass and crystal chandeliers, wooden fixtures and custom mouldings do not define luxury anymore. Comfort-seeking and self-indulgent king-size lifestyle now coexists with the incredible shades of green. The addition of greenery in a township enhances the luxury inside homes where people try to find a way out of the bustling city life.
The pandemic has increased the love of nature in the buyers, as they have realised the beauty of living in a pristine environment surrounded by flowers, parks, and green vistas. With wild animals venturing outside on the roads during the Covid-19 lockdown, people have realised the importance of reduced pollution and clean environment during the pandemic. On a lookout for eco-friendly options in almost everything related to daily life, customers are demanding greener living spaces.
With work from home (WFH) being prevalent, changes in home design are also on the horizon. The demands include a home office, yoga space, decks offering natural light and ventilation among other things. People are aspiring to live, exercise, and entertain in new ways post-Covid.
The change in perception has started to seep in, and it is evident in the demand that the real estate sector is getting. All the segments of real estate are getting buyers enquiring about the amenities related to health and wellness. The change, however, is being noticed in the premium, luxury, and ultra-luxury segments. A trend of organic farming, green acreage and traffic-free premises is taking precedence over every other detail. Buyers are now focusing on wellness amenities.
Not only in India, but the demand for sustainable homes has also become a worldwide rage. According to a survey conducted by UK housebuilder Redrow, roughly 63 per cent of the potential home buyers polled, expressed an interest in purchasing a sustainable home. Furthermore, 38% said that they plan to buy a home which includes thermal wall insulation, efficient boilers, and renewable energy sources. In fact, 82% of the buyers stated they would be willing to pay more for a sustainable home, with more than a quarter saying they would be willing to pay at least a 6 per cent premium for one. More than 78 per cent of respondents agreed that buying a “greener” home would benefit the environment, and 92 percent were enthusiastic about doing so. Basically, the demand for sustainable living has been increasing across the board.
The latest demand calls into question the long-held but hitherto under-researched argument that there is minimal customer demand for sustainable homes. As a responsible contributor to the nation’s housing demand, real estate is now placing a strong priority on reducing its carbon footprint. We need to build abodes that people want to live in, and we must understand what buyers want from their homes and their home builder.
In conclusion, homebuyers are increasingly considering green facilities as part of their purchase choice, particularly due to the pandemic. Developers of new houses can take advantage of this by incorporating green features into their blueprints and emphasising them as part of their marketing strategy. After all, good work starts at home.
Text by Amarjit Bakshi, CMD, Central Park
Mr. Amarjit Bakshi is the CMD of Central Park, with interests in Real Estate, Hospitality, Education, Automotive and Infrastructure. Mr. Bakshi has been a recipient of numerous awards and honours. The most prestigious of which are the Rajiv Gandhi Excellence Award as Best Corporate in Realty Sector, World’s Greatest Brand Asia & GCC by URS, Best Luxury Project of the Year (North) by Realty Plus Excellence Awards, Asia’s Best & Fastest Growing Real Estate Brand by WRCS Leaders, CNBC Awaaz Award being some of the prominent one besides a bevy of others.
Source : Good Homes