Wellness amenities new rage among buyers

Realty consultant Anarock's recent Covid-19 edition of consumer sentiment survey reveals that home buying sentiment is on a distinct rise. In times of unprecedented job insecurity, rent is a burdening expense, property ownership is a vastly more attractive investment rationale than reposing faith in volatile financial markets, and the home is a focal point of an entirely new work ethos.

The survey also revealed that the current breed of homebuyers is willing to pay extra for premium products and features. For most Indians' single-largest lifetime investment, it makes sense to secure the best options available within one's means.

While branded builders deliver the desired premium via superior properties and locations, the concept of premium features itself is undergoing a rapid sea change. Premium amenities have always been a draw when it comes to luxury homes. However, even before the coronavirus pandemic, 'premium' perception in real estate had moved from mere snob value into the realm of family wellness and health.

Wellness amenities such as yoga studios, meditation rooms, spas, gymnasiums, tennis courts and jogging tracks became the new rage among urban homebuyers. Such features eventually transcended luxury home projects and came to be expected in mid-range homes. Wellness amenities now deliver a far more convincing 'premium' punch than architectural eye-candy. Branded developers were quick to sense the shift and began integrating such features into their projects.

Real estate that encompasses wellness elements in a building's design, materials and amenities is a major global trend. Wellness features in a residential (and also commercial) building enhance its desirability as it improves the overall environment and enhances well-being. As we edge more into the luxury homes domain, buyers also seek projects with art studios, hobby rooms and Zen gardens where they can unplug and rejuvenate.

The practice to get buildings certified for wellness is being followed by several international developers. This trend, which is being seen in residential, commercial and even avant-garde retail spaces, involves the building receiving wellness certification based on its design and operational strategies.

While the residential real estate is gradually catching up to it, this trend is currently more visible in contemporary commercial spaces. Globally, owner-occupiers of commercial establishments are driving demand for wellness features and practices.