Gone are the days when buyers were satisfied with a project’s name that included the word “green”; today’s buyer understands the importance of having actual greenery around them. The pandemic heightened the buyers’ appreciation of nature as they realized the value of living in a pristine setting. The shift in perspective has begun to take hold, as evidenced by the increase in demand for real estate. Buyers are inquiring about health and wellness features in real estate projects.
The real estate sector has stepped up to fulfill the demand for environmentally friendly living. Organic farming, green acreage, traffic-free premises, and other facilities are becoming increasingly popular; this is not to say that other amenities are being overlooked; rather, they are taken for granted in the sense that they must exist. The difference is that buyers are paying more attention to ask for wellness amenities.
Sustainable housing has become a worldwide craze, not only in India. According to a survey done by UK housebuilder Redrow, 63% of the 1,730 potential home buyers polled expressed an interest in buying a sustainable home. In addition, 38% said they expected to buy a home with thermal wall insulation, efficient boilers, and renewable energy sources. In fact, 82% of buyers said they would be willing to pay more for a sustainable home, with more than a quarter indicating they would pay at least a 6% premium. More than 78 percent of respondents thought that buying a “greener” home would be good for the environment. Basically, there has been an increase in demand for sustainable living across the board.
The new demand puts into question the long-held but under-researched claim that there is little buyer desire for environmentally friendly dwellings. Real estate is increasingly putting a major emphasis on minimizing its carbon footprint as a responsible contribution to the nation’s housing demand. Finally, homebuyers are increasingly considering green amenities as part of their buying decision in light of the pandemic. Green features can be incorporated into new house plans and emphasized as part of a marketing strategy, which developers can take advantage of.