Consumer behaviour pattern is an ever-evolving subject. The domain of real estate is no different, where the homebuyers investing pattern frequently changes. With market research teams in place, developers are aware of how the way of life has been transformed over time and thus, they are building future-ready living spaces that will appeal to the altered buying preferences of end-users.
Some of the emerging trends of the changing buying behaviour of home buyers:
Functional spaces driving real estate investment: The new normal lifestyle calls for large spaces that encourage more elbow room that will facilitate in accommodating a multitude of functions. Homebuyers have been insistent on the requirement for customizable spaces like a bedroom that can be converted into a home office. Consumers are looking to opt for projects with 2 & 3 BHKs that can cater to the modern-day consumer needs of work and study from home.
Wellness living spaces on the rise: Already an upward trend, designing homes that allow wellness to flow into the spaces have been gaining a whole new purpose. In the backdrop of the pandemic, this awareness has only been amplified, as individuals have been spending more time indoors. Wellness residences with holistically designed aesthetics like antitoxic paints, indoor plants, high ceilings, design offerings more scope for ventilation, biophilic designs and pollutant-free home environments are perceiving a boom due to their ability to increase the resident’s endurance. With structures being designed with keeping homeowners health in mind, it won’t be wrong to state that the real estate market is getting a wellness makeover.
Social amenities: In the current real estate market, millennial home buyers prefer homes that offer amenities that complement their socializing lifestyle and aspirational status. This rising demand for socially advanced homes has led many market players to come up with smart and multi-functional facilities with features like podium garden, clubhouses with a well-equipped gymnasium with spa, indoor and outdoor pool, multipurpose sports court, lawns, banquet facilities, music and dance studios thus offering a quality lifestyle.
Safety is a new luxury: In the not-so-distant past, housing amenities were all about luxury, but now safety features have become an indispensable component of the real estate sector. Lately, there has been an increased consumer awareness around security aspects in spaces enabling residents to feel truly safe and secure. Along with offering homes with smart technology, developers are also looking to incorporate better ventilation frameworks, no-touch and high-speed elevators, sensory doors, power back-ups for common areas, CCTV monitoring & state-of-the-art security systems all of which are vital add-ons.
Integrated living is here to stay: Increasingly, there is a marked preference for integrated developments that provide spacious homes set amidst green, open spaces with all the necessities offered within the development. Integrated living townships are being constructed within the vicinity of commercial and retail zones, thus bringing the walk-to-work culture. Integrated living provides the comfort of community living across all age groups.
Homebuyers nowadays have been looking at abodes and brands through a new lens. The conscious consumer shift towards quality, growth-worthy location, amenities and lifestyle are some of the strongest trends that have been reshaped and are only going to materialize in times to come. Making a note of the above trends, real estate developers are credibly catering to potential homebuyers needs through their quality offerings.
