Key highlights of the report:
- 80% of the homebuyers consider it important to have a home as a place to maintain their health and mental wellbeing
- More than 80% of the home buyers prefer their homes to be surrounded by open spaces and greens, both inside and outside their house
- Greater emphasis on amenities and in-home set-up for work/online classes
- Hobbies and passions gained more prominence since COVID-19 pandemic
MUMBAI, India, Aug. 8, 2022 /PRNewswire/ -- Godrej Properties Ltd. (GPL), has unveiled a research report 'Home Livability Factors' which underscores the fundamental shift in homebuyers' preferences with the onset of the Covid-19 pandemic and the significant alterations that it has brought about in their preference for residential apartments.
Before the Covid-19 pandemic, a lot of people were more inclined towards rental housing as homes were just considered as a place to rest and take shelter. However, there has been a value shift in this mind-set and homes are now an abode that can cater to diverse needs of homebuyers. The previous year saw a rise in millennial home ownership and spaces that were located close to essential services. Now people are more specific in their requirements and expect more than just a living space from their homes.
According to the 'Home Livability Factors', nearly 80% of the home buyers consider it important to have a home as a place to maintain their health and mental wellbeing. Maintaining good health and leading a healthy lifestyle is becoming an utmost priority for most homebuyers, thus the increasing demand for multifunctional spaces at home. Homebuyers are also looking for a lot of greenery in their residential units. This is also affirmed in the research where more than 80% of the homebuyers stated that they want their homes to be surrounded by open spaces and greens, both inside and outside their homes.
The report also unveiled that 70% of the homebuyers consider it important to have an office set-up in their home considering that most companies might adopt the hybrid working model. Furthermore, the new found time has given people the opportunity to pursue their hobbies, 69% of the respondents feel that their home is a place to develop their hobbies and passions. From work stations, study rooms, gym spaces, play areas, better lighting for video calls, well-ventilated rooms, and more, individuals are in search of larger and spacious homes which can fulfil the needs of each family member.
Rakesh Kumar, Chief Design Officer, Godrej Properties, said, "Homebuyers are now going beyond the basic checklist and are on the lookout for very specific, custom-designed, and smart homes which are not only technologically evolved but offer contemporary facilities in terms of safety, security, and more. Home life is now centred on health and wellbeing which has led to a strong significance for an open and safe living environment."
About Godrej Properties Limited
Godrej Properties brings the Godrej Group philosophy of innovation, sustainability, and excellence to the real estate industry. Each Godrej Properties development combines a 125-year legacy of excellence and trust with a commitment to cutting edge design, technology, and sustainability. In FY 2021, Godrej Properties emerged as the largest developer in India by the value and volume of residential sales achieved. Godrej Properties has deeply focused on sustainable development. In 2010, GPL committed that all of its developments would be third party certified green buildings. In 2020 and again in 2021, the Global Real Estate Sustainability Benchmark ranked GPL #1 globally amongst listed residential developers for its sustainability and governance practices. In 2017, GPL was one of the founding partners of the Sustainable Housing Leadership Consortium (SHLC), whose mission is to spread sustainable development practices across the Indian real estate sector. In recent years, Godrej Properties has received over 300 awards and recognitions, including the Porter Prize 2019, The Most Trusted Real Estate Brand in the 2019 Brand Trust Report, Builder of the Year at the CNBC-Awaaz Real Estate Awards 2019, and The Economic Times Best Real Estate Brand 2018.
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