Luxury apartments have been among the most preferred options for NRIs and high-net-worth individuals. However, recent times, especially the post-pandemic period, have recently witnessed luxury homes gaining popularity among millennials. This young and tech-savvy generation is looking for homes that provide them comfort and access to a luxurious life. Though high purchasing power is a significant factor contributing to the millennials’ surging interest in luxury abodes, several other factors come into play. Let’s analyse some of these reasons.
Longing for green and open spaces
Mumbai’s job market potential and reputed educational institutions make it a preferred location for professionals and students. However, the constant influx of people has also turned Mumbai into one of India’s most crowded cities. Though many localities offer a fabulous lifestyle, some are far from nature and lacking in green spaces. Millennials long to get closer to nature and look for homes close to parks and recreational areas. Luxury homes offer brilliant views of the surroundings and are encompassed by greenery. Some flats provide mesmerising views of the sea, while others of the hills, parks or open areas. At the end of a busy day at the office, millennials want to return to a place that soothes their eyes and mind.
The work-from-home culture
Work-from-home was the norm during the pandemic period. Though the decline in Covid19 cases has seen people returning to offices, the work-from-home culture is still in vogue. Millennials are opting for spacious homes that offer ample space to set up a home office. Luxury homes are usually large and may comprise a separate study. The study can accommodate office equipment and gadgets and offer solitude and relief from disturbance. Further, a workplace overlooking green space will boost productivity and make work more enjoyable. Unlike a regular home that may experience space constraints, a luxury home might seem more feasible for professionals working from home.
Smart homes for a tech-savvy generation
Millennials are leading hectic lives and are looking for ways to reduce stress. Smart homes are the in-thing these days. These highly innovative homes allow homebuyers to remotely control gadgets and appliances through mobile phone apps. In traditional homes, you must manually switch the lights and fans on and off. In a smart home, they will automatically turn on or off once you enter or depart from the room. Similarly, your mobile phone app can operate other appliances like thermostats, refrigerators, entertainment products, security apparatus, and many kitchen appliances. Unlike regular homes, smart homes provide convenience and save time which is in short supply for most millennials. A luxury smart home is the best option for the young and tech-savvy.
The need for physical and mental wellbeing
Luxury apartments are brimming with amenities that provide comfort and relaxation. Besides enabling homebuyers to lead a sophisticated lifestyle, these amenities also contribute to the overall well-being of the residents. Sports facilities, yoga and recreation centres, clubhouses, jogging/cycling tracks, and gyms are just a few amenities that make luxury apartments a class apart from regular homes. Millennials need not navigate the busy Mumbai streets to reach a yoga centre or gym. With all these facilities available in the luxury project’s precincts, residents can walk to these centres. It saves millennials energy and time, which can be spent with family or on other tasks. Keeping the aspirations of health-conscious millennials in mind, developers are constructing exclusive properties that offer the best health features.
Conclusion
Millennials are tech-savvy, health-conscious, earning well and have a penchant for the good life. Luxury apartments have astounding features and are strategically located. These aesthetically designed abodes fulfil the aspiration of millennials and help them lead a quality life. Check out portals like Blox; you will find numerous luxury apartments with the best amenities. Partnering with the platform offers other benefits like virtual tours/site visits, zero percent brokerage, etc. The demand for luxury homes is strong and will continue to grow.
