Luxury housing is a plush residential category in the real estate business and this segment has witnessed an increase in demand from the past some time. Hence, know the factors that influence luxury housing category:
1. Buyers Interest
A sudden change in mindset is reported ever since the Narendra Modi-led Government came into power in 2014. The prospects coming from different spheres like the NRIs [Non-Resident Indians] and HNIs [High Networth Individuals] started taking interest in the luxury housing projects across the country as owning a property in India has become easier that too without getting a hole in the pocket. One of the main factors that influence luxury housing are the reforms that made working of the Indian property market transparent.
2. Introduction of Technology
The idea of luxury housing has changed from a home designed on the large piece of land to a villa/flat/independent home that is built with modern technology and also protects the environment along with energy-saving.
Earlier, cement, red bricks and other traditional materials along with an age-old building method was used to construct a luxury home. But, today the inception of the latest cutting-edge technology, usage of flyash bricks, green homes and energy-efficient residential units has changed the construction process by manifolds.
The technology is an important factor that influences luxury housing segment as the innovation in lights such as the availability of LED that saves energy and also creates a bacteria-free environment in opulent designs has given a new dimension to high-end living.
3. Theme-Based Projects
Today, luxury home is just not a fancy name but the design, amenities and accommodation make it luxurious. The residential projects designed similar to a particular locality or atmosphere is known as the theme-based projects. The housing project based on Roman, Spanish or Italian architecture are the best example to understand as the interiors, exteriors, open areas and every single arena is designed while keeping the theme in mind.
The luxury housing segment is widely influenced by theme-based projects as the prospects search for this kind of properties to own a holiday home in a tranquil atmosphere or look at the same as an investment option. The chances to yield greater ROI [Return on Investment] are high as you can rent it for homestays.
4. Automated Homes
Luxury is at its best when you get everything on the go. Hence, the addition of technology-enabled security system like video door phone, CCTVs, audio control devices, energy-efficient lighting system to name a few gives a person the freedom to run a home on its fingertips. All these amenities make living easy and thus these factors influence the luxury housing segment at large.
Another factor that influence luxury housing segment is the demand for green homes. The prospects with hefty funds for investments prefer this segment and the addition of features like lush-green areas, open landscapes, solar panel installation, botanical garden, Japanese garden, herb garden and more attracts a large number of investors who find luxury housing a perfect option to live the dream.