ULTRA LUXURY BOUTIQUE HOMES ARE A GROWING TREND
The Year 2022 has brought a resurgence in all business sectors including real estate. According to multiple reports, the luxury real estate market in particular is set to receive major gains in 2022. Today, homebuyers are especially on the lookout for investing in state-of-the-art boutique luxury properties in 2022.
A recent 2022 survey by Sotheby’s International reported that 80 percent of high networth individuals in India are looking to invest in real estate in the coming two years. The survey conducted across top tier cities like Mumbai, Bengaluru and New Delhi also revealed strong interest in luxury homes. More than 90 percent of surveyed participants interested in buying real estate are looking at luxury homes.
The increased demand for boutique luxury homes is set to grow with many respondents having invested in real estate in the last one and a half years. The boutique luxury home market covers apartments, city bungalows and even holiday homes. In fact, discerning homebuyers in India, High Net Individuals (HNIs) and Ultra High Net Worth Individuals had been buying luxury homes for personal residential purposes in the years preceding the Covid pandemic as well.
Witnessing growing demand for luxury boutique homes
One of the biggest reasons cited for the high demand for luxury homes is upgrading of lifestyle in the wake of a pandemic-like situation. Luxury boutique homes are designed with all necessary state of the art amenities to rival any hotel property. With work from home becoming increasingly popular, homebuyers are attracted to the resort-like environment, space and enhanced utilities provided in luxury homes. Boutique homes provide a resort-like peaceful ambience in the middle of the bustling city life which is why they are increasingly preferred by the upwardly mobile people having a taste for a harmonious lifestyle.
The luxury boutique home market is also witnessing increased interest from the NRI investors. These well-travelled, highly educated class of people are already used to a set of amenities and quality and given an opportunity where they find similar facilities, they come forward to invest and have a pad in their home country. The pandemic also forced many NRIs back to home to look after elderly family members thereby contributing to increased demand for second homes in India.
Today, these uber luxury homes provide the necessary space and amenities needed to make work from home and hybrid work models possible. This has been another reason for the increased demand for specifically designed luxury homes at the best city locations.
Investing in a Boutique Luxury Home
Investment is a big motivation behind purchase of second homes by HNIs in top metros. According to many HNIs, the residential real estate segment is expected to witness price escalation in the second half of the year 2022. This makes investment at current conditions prudent from an investment perspective. Unlike developed countries where real estate prices have almost stabilized, metros like Delhi-NCR, Bengaluru and Mumbai are an investor’s goldmine with immense returns.
Further with the rise in disposable incomes, low interest rates and reduced stamp duties, sentiments are high. Tech workers in particular have seen a rise in their salaries due to increased Indian and international demand. Well-travelled tech millennials are thus looking to invest in luxury real estate that is on par with their lifestyle and experiences.
The demand for luxury housing is not just focused on tier 1 cities but we see that there is a rise in demand for independent luxury villas in holiday destinations. This is also providing an overall boost to the luxury real estate market.
Live in the best
One of the characteristics of boutique luxury homes aside from excellent aesthetics is the state of the art security. Luxury home projects provide a high standard of security which is particularly attractive for residents who desire privacy and security. This top-of-the-line security includes trained personnel and security installations. Further, these luxury homes come with enviable extras like rooftop swimming pools, private lifts, jacuzzis, car parking, meditation centers, state-of-the-art gyms, salons and so much more. Such homes are upgraded with the latest technology from the best in kitchen gadgets to remote controlled lighting and other features. High levels of customization and architectural details have been the main USPs of luxury boutique homes constructed in limited numbers. These exclusive projects provide buyers with options for customization within the property.
For your luxury boutique home, visit www.BhadraGroup.com
SARVESHAA SB
Managing Director
BHADRA Group
