Why is wellness design becoming a priority among home buyers
Since the pandemic, real estate has witnessed a phenomenal change in home space design. The need for homes with a wellness design is on the rise. The professionals in the industry have termed wellness design as home elements designed for the dweller’s mental and physical well-being.
These design or architectural features were first introduced during the previous infectious outbreaks like influenza, dysentery, and tuberculosis in 1918. There is a fascinating intersection of health, architecture, and design going back to ancient times; this feature is similar to the time of the outbreak when the sleeping in verandas, a powder room, an inbuilt closet, and upgraded radiators were created as an attempt to prevent or slow the spread of the infectious disease in the family.
In the current scenario, there is an unprecedented demand for flexible living spaces and open floor plans to conduct virtual meetings, outdoor spaces within the home for recreation, laundry rooms, and home technology. A survey conducted by a renowned architect and building strategist in 2020 revealed that those seeking a home wished to have the following features in their homes.
• Flexible space to have virtual meetings, personal space, study area
• Bathrooms close to the entry point of the homes so that they could provide visitors to wash hands before entering their homes
• Guest room/quarantine room to have direct access to outdoor entry with separate bathrooms
• A separate room for housekeeping staff and attendants
With the advent of the pandemic, the realization of flexible space for personal needs has become more evident. The need for a spacious home with a flexible room or a bare shell apartment has been preferred. Homes offering 3 & 4 BHK flats like Vraj Tiara located in Worli have been considered for their flexible layout featuring sea-facing balconies, large French windows for natural light and ventilation, separate facilities for housekeeping staff, project feature amenities such as a dedicated lifestyle gym on the 24th floor, and multi-faceted amenities like a barbecue pit, sky lounge, observation deck, and kids play area.
Property registrations in Mumbai registered a 20% year-on-year in August 2022 with the rise in the number of stamp duties and registrations. The city recorded 8149 property transactions in a single month, ranking it at the top with ₹630 crores in stamp duty revenue for the state exchequer, showing data from the inspector general of registration, Maharashtra.
Although August, historically, has always been a slower month. But in 2022, despite the increase in stamp duty and home loan rates due to a 140 bps rise in the repo rate, it has shown a growth in sales.
The Covid 19 transformed the consumer’s thinking, including how real estate was perceived. Consumers’ inclination for homes has been towards a cohesive ecosystem that aids quality of life.
– Homeownership for security in comparison to renting properties
– Larger apartments with thoughtfully designed spaces
– A holistic stay with amenities within the residential complex
– Proximity to daily conveniences and health care institutes
In conclusion, the emerging trends of flexible floor plans and to have wellness design spaces have brought favorable growth in the residential sector in Mumbai city. The trends in real estate are now more focused on the consumer’s needs and will continue to grow by complying with the changing trends
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