High-End Properties Gain Ground in India

The recent Homebuyer Sentiment Survey conducted by FICCI-Anarock reveals a notable shift in the Indian real estate market, with luxury homes gaining significant traction among buyers. As the landscape of homeownership evolves, real estate remains the preeminent choice for investment, with a striking 59% of respondents indicating a preference for property over other investment avenues. This enduring faith in real estate underscores its status as a stable asset class, especially amid economic uncertainties.

A deep dive into the survey’s findings highlights an intriguing trend: while 67% of participants intend to purchase land or properties for personal use, only 33% do so for investment purposes. This indicates a growing inclination among Indians to seek homes that cater to their lifestyle aspirations rather than simply viewing real estate as a financial asset. The shift towards purchasing larger properties is also evident, with over 50% of homebuyers now favouring 3BHK flats. This growing demand reflects a shift towards spacious living, catering to families who prioritise comfort and room to grow.

The luxury segment is particularly noteworthy, with 28% of buyers opting for properties priced over ₹90 lakh. This trend highlights the increasing willingness of affluent buyers to invest in high-end homes that offer not just shelter but also a lifestyle. Additionally, the survey shows that big apartments remain the preferred choice for 58% of respondents. However, it is essential to note that there is a rising interest in basic residential plots, particularly in southern India, signalling a diversified approach to property investment.

From a sustainability perspective, the burgeoning demand for luxury homes presents both opportunities and challenges. Developers are now faced with the task of integrating sustainable practices into these high-end projects to meet the expectations of environmentally conscious buyers. Features such as energy-efficient systems, sustainable materials, and green spaces are becoming paramount in luxury developments. As the urban landscape continues to evolve, incorporating sustainability into luxury living will not only enhance property values but also contribute to a greener future for India’s cities.