Is Health & Lifestyle Your Priority? Try Wellness Homes
Luxury can take a backseat for now. Wellness homes are fast becoming the flavour of the season for the housing market. Increasingly home buyers and builders are turning towards wellness homes with more real estate developers going in for eco-friendly designs and construction. Thanks to the uptick of organic food and farming, fitness centres, beauty and nutrition centres all around us, stakeholders know that perhaps the best way of selling homes now is to focus on bringing such amenities right to the buyer's doorstep.
Global trends
In Manhattan, for example, some signature homes boast advanced air, water purification systems, reflexology based pathways, aromatherapy dispensers. It may sound a little dramatic but yes, the lighting in the house is such that it energises by the day and regulates melatonin levels by night to facilitate better sleep. In short, it is called the circadian rhythm and dawn simulator. These facilities are not uncommon to off-campus students' accommodations as well. So be it yoga, fitness, nutrition consultants or mediation—nothing loses focus and is available to all who can afford.
Of course, that is not all. Trend setters in the West are also talking about Vitamin-C packed shower filters, that as the name suggests, does its work as well as eliminates any trace of chlorine. Beddings that are hypoallergenic too have entered these markets. Don't like the humidity inside the house? There are indoor, self-irrigating vertical gardens too. These purify your houses too.
The Indian wellness market
While the Indian housing market is just reviving, a 2015 report by Pricewaterhouse Coopers (PwC) says that on a scale of 1 to 5, India scores a 3 (Fair) when it comes to levels of impact of global financial distress- Hong Kong, mainland China and Singapore being most affected. This could be one of the reasons why developers are holding on to their stock and potential buyers with a higher budget at their disposal are still looking at homes that boast wellness and lifestyle.
In India, Tata Housing ventured into wellness homes for the first time, introducing the concept to the domestic buyer. Priced at Rs 1.65 crore and upwards, this was planned in Thane. Armed with rising income, the growing desire to opt for a wellness home, the younger generation of buyers, especially in metropolises, have taken a liking to this trend. An All India Wellness Survey conducted by Tata Housing also suggested that nearly 88 per cent of participants did not mind paying a premium for homes fitted with such features.
Minute aspects of lifestyle are being focused upon. For example, the survey concluded that almost 63 per cent of participants said that they were not aware that there were harmful electromagnetic fields inside the homes due to electrical circuits. Another 37 per cent said they knew about it but don't know how to go about it and thus were willing to pay higher for a solution. Hence, wellness homes boast homes free of radiation, pure air and clean water, rarely provided by regular homes. In short, we are going back to nature. And while you may not have felt that you could have it, Tata Housing is also looking at posture-supporting floor system in its future projects. Godrej too is venturing into the same concept –of bringing alive an urban farm.
Pricing
While the pitch may be wellness, these are by no means any cheaper than a luxury house. The cost could beat buying sentiments as of now but there is no doubt that these could capture the market. However, builders may be taking this slowly, testing for a finer time to introduce the bulk to the buyers. As of now, affordable is the buzz word. But despite that the Indian market is graduating from wellness resorts and spas to wellness homes. Happy buying!