The latest craze of boutique homes is growing 40% higher. Grab your lavish living insights from your ever-dreamed house.
Since the post-covid time, Boutique homes are a luxury destination growing at a rapid pace.
Work-from-home and other forms of hybrid work cultures have become the new reality. As a result, homebuyers are looking for significantly wider and even more comfortable environments to relax and work in.
Buyers are attracted to the resort-like location, luxury, and improved facilities offered in luxury homes as working from home becomes more and more popular. Boutique homes provide a calm, resort-like atmosphere amid stressful city life.
There’s been a lot written and recorded recently about how the luxury home market has suffered as a result of demonetization, the Real Estate (Regulation and Development) Act of 2016 (RERA), the Goods and Services Tax (GST), and COVID. Even though the market is under pressure, according to experts, it will continue to grow. The trend shows that the luxury housing and premium boutique home markets are consistently rising.
What Is A Boutique House?
Boutique houses seem to be housing structures that offer innovative designs, an advanced atmosphere, and architectural features. Such homes are typically small in size, but they come with custom-designed decorations and are built to the buyers’ requirements.
These housing units are being built to meet the needs of those seeking individually designed, lavish residences with private pools, cabanas, meditation centres, state-of-the-art gyms, salons, and so much more.
Is There A Demand For Boutique Homes?
The demand for expensive boutique homes was always there for the past few years. But now it is increasing as more homebuyers seek to live in a convenient location in the city centre. This allows them to quickly access the best social facilities.
In urban areas, where property owners prefer luxury items, the demand for boutique houses has increased significantly. Having a luxury home is now an acknowledged urge among high-net-worth individuals. As a result, to attract potential buyers, the real estate is designed to be lavish, comfortable, and relaxing.
According to a survey conducted by India’s Sotheby’s International Realty, 67% of high net worth individuals (HNIs) plan to buy a luxury property in the next two years to improve their lifestyle. The survey proved particularly from over 200 HNIs and UHNIs across India’s top eight cities: Delhi-NCR, Mumbai, Kolkata, Bengaluru, Hyderabad, Pune, Chennai, and Goa.
The demand for luxury housing is not limited to tier 1 cities; we are also witnessing a rise in the need for independent luxury villas in vacation destinations. And obviously, it could be boutique homes. NRI investors are also showing an increased interest in the luxury boutique home market.
Developers are still interested in this segment due to the glitz and glamour. The homes come in custom design, unique buildings, and customised living. It provides buyers with the opportunity to feel special. Luxury home builders are highly specialised and cater only to this particular market.
They have this format as a unique business proposition to build and deliver boutique luxury projects in six to eight months. In comparison, volume luxury projects take much longer. Due to the smaller number of units that need to be built, it is quicker to construct and complete such projects.
The Luxury Home Concept In India
The traditional concept of luxury in India includes many other factors, such as the size of an apartment, as well as the interiors, creature comforts, and facilities. Typically, end users do not require housing loans. They have enough money to spare because they are wealthy. Also, hybrid work has radically changed the luxury real estate sector.
Why Bengaluru Is The Most Preferred Boutique Home Destination?
Entrepreneurs, industrialists, and a variety of wealthy producers choose Bengaluru as their home.
- Proper corporate landscape
- Have medium to large
- Employee preference
- Budget-friendly living
Luxury residences accounted for 20–23% of the overall transaction value of the real estate sold. People who have more upscale preferences and lifestyles are paying particular attention to Bengaluru’s housing and luxury boutique home markets.
We can see there’s a high demand for Boutique homes and it’s going to increase in the coming years. Boutique homes are great for a lavish lifestyle and comfortable living with your family. More developers are focusing on this segment of the real estate market and we are going to see some beautiful projects.