Five trends in luxury real estate

Thanks to available land in the suburbs, developing these projects with modern infrastructure in conjecture with nature becomes a selling point

Luxury real estate enthusiasts are curious about what this year holds. With the last few years spent in an economic lull, the real estate sector was forced to take a step back in time. Owing to a shortage of resources, labour, and the economic downfall, this was a period of reconsideration and innovative thinking for developers globally.

When we look at patterns in luxury real estate investment in 2022, high-net-worth individuals, who account for the majority of luxury real estate investors, have been moving to metropolitan regions. It is clear that this demographic, with its amassed wealth, is not only concerned with themselves, but also with generations to come. Also dominating the domestic real estate market are NRI investments, with them showing a preference for investing in long-term assets versus stocks and fin-tech. Adding to this, Baby Boomers (i.e. the population born between 1945 and 1964), significantly influence the luxury real estate market. Since their transition to retirement from 2010, the focal points of their interest include luxurious family homes and secondary homes.

As a result of this fast-growing, consistent and reliable market base, 2023 looks promising. Here are five luxury real estate trends to look out for this year:

A prime location always takes precedence when it comes to luxury properties. However, homebuyers are now increasingly shifting focus towards properties that offer not only prime location, but everything desired as a package. Offering the best of amenities, coupled with the convenience of access to almost everything — properties that serve all your needs under one roof. Your roof. While being at the nexus of all the action, you get to also have your own private oasis. Undoubtedly, centrally-located homes bring you the best of both worlds.

Central-living has for the longest time been synonymous with living in denser and smaller homes. With spacious avant-garde interiors being few of the many features of luxury real estate, it comes as a breath of fresh air for urban investors looking for their dream homes. Our lifestyles are changing dramatically, and smaller homes don’t always support interests like gardening, fitness, and hosting family and friends. Living spaces that are also illuminated with natural light, are ventilated, and furnished to the best of taste benefit their occupants in a host of ways. These aren’t just factors that elevate the value of a property, but also the lives of those occupying it. For many buyers, the way a house makes them feel is a key factor in closing the deal.

Security and safety have always been as pivotal to buyers as they have been to developers. Measures such as appointing security guards, installing exterior cameras and having security fences have been commonplace for decades now. However, with the introduction of advanced security solutions like facial recognition, motion-sensors, fire alarms and the like, the perception of 360° safety is evolving among buyers. Feeling safe in one’s home is key to feeling comfortable in it. With modern technologies like these, a building is fortified to successfully combat any untimely threats. In essence, luxury is all about exceeding conventional standards of comfort while providing the highest level of safety.

A hike has been seen in the popularity of Retirement & Second Homes (RSH) like farmhouses, row houses, vacation homes, and so on. Mostly an area of interest for families, second homes are also becoming increasingly desirable because they provide a quick getaway at a scale that cities fail to offer. Vacations are just a drive away with such homes, while they also fit in perfectly with the work from home and hybrid work culture. With these weekend homes, ‘workations’ have become a welcome reality. Thanks to the offbeat and decluttered countryside, developing these projects also permits the exploration of modern infrastructure’s full potential in conjecture with nature.