Till recently people preferred gated societies, condominiums and compact spaces because of the security, convenience, and shared maintenance responsibilities. This trend has changed. Now besides owning apartments people also prefer to buy nature-inspired farmlands.
According to a recent survey titled Sotheby’s International Realty’s Luxury Outlook 2024, 71 percent of high and ultra-high-net-worth individuals in India may end up buying luxury real estate in the next 12 to 24 months.
Needless to say while the new-age home buyers prefer the bustle of city life, they also yearn for the luxury of a second habitat in the lap of Mother Nature. Let’s look at the dynamics contributing to this repositioning trend in the real estate market in India.
Yearning for larger expanses
In contrast to the confines of apartments, back-to-nature off-the-grid retreats offer a space where one can move freely, breathe in the lap of Mother Nature, and find ample room for play and recreation away from urban cobwebs, and restricted spaces of their homes
According to the survey a good number of the High-Net-Worth Individual (HNI) desire to buy luxury property, including holiday homes, farm houses, and agricultural land, to upgrade their lifestyle with their increasing wealth. For urban residents, larger living areas, promise unparalleled comfort and freedom and a retreat to a bigger and spacious nature-inspired living space is an aspirational luxury.
In the lap of nature
Investing in a home nestled in natural surroundings is wise and forward-thinking. As the basics of life are gradually met, the focus shifts from boxed residences to bigger, nature-centric homes for holistic wellness. The rejuvenating power of nature is unparalleled, and prospective homeowners are looking for a harmonious lifestyle away from confined dwellings.
While many embark on journeys to pursue well-being and holistic health, there’s also a growing awareness that owning living spaces immersed in natural beauty is a wise option for multigenerational wealth creation. Indian buyers, with a keen eye for strategic investments, are increasingly drawn to these offerings and seek to enrich their financial portfolios and quality of life.
Passion for a sustainable lifestyle
There has been a growing awareness of conserving our natural habitat and preserving the environment. When a survey reported that nearly 74% of respondents were willing to pay a premium for sustainable products, the trend has now followed suit in real estate. New-age homebuyers are conscious of sustainability. From a fondness for growing their food sustainably to going off-grid and generating green energy and even discovering their water sources, people are choosing self-reliance and sustainable living.
Also Read: The timeless appeal of the bungalow lifestyle
Second homes with expansive contours allow one to pursue innate conservationist passions. With considerable areas in second homes, solar and wind energy can easily be harnessed, food is grown organically without toxins, and rainwater is harvested for drinking and daily use. Some managed farmlands have even taken a step further by developing man-made lakes at their locales to harvest water and use it for drinking and irrigation. Apartments or smaller independent homes today do not allow the space liberty to achieve this futuristic aspiration, and that’s when the modern resident comes in search of nature-infused second homes.
The way ahead
The modern real estate investor is savvy and aware. While the trend is to invest heavily in apartments and smaller homes in cities, the need is shifting to creating a second home away from the city humdrum. Space constraints are urging people to plan their investments towards bigger second homes connected to nature, with enough area for recreation and leisure activities.
From heavily investing in quality of life, second homes in the lap of nature, like farmhouses, are meant for those who are conscious of their holistic well-being. To top it, the aspirational residents are passionate about striving for a sustainable and self-reliant lifestyle where they can meet their needs even if they go off the radar.
