Real estate trend – it is the fashion that real estate buyers are currently interested in. Every real estate broker must be aware of these trends that premium customers are setting to close a 100 crore property sales deal smoothly.
When you are dealing with ultra-luxury properties in real estate, you are dealing with high net-worth individuals (HNIs) and prime locations. You must analyse the real estate trends carefully to be ahead of the competition.
India is the 14th costliest residential real estate market.
Everyone is aware of the Bollywood stars’ and politicians’ homes. But a quick fact check will show you that nearly 80% of these opulent homes were purchased by business magnates followed by 16% by veteran professionals.
Why the high price you may ask – The rarity of the existence of these lavish real estate properties. Simple, the ultra-rich want to buy high-end properties, and these properties are in limited numbers.
High net worth individuals are showing a trend – they are interested in purchasing deluxe and luxurious apartments, over plush bungalows. The state of the stock market is volatile because of contemporary geopolitical tensions. So the high net worth individuals are looking to diversify their portfolio.
What is a safer investment with good returns? The real estate market!
When high-net-worth individuals want to invest in luxury real estate properties, why not leverage the facts and deliver to them their choice of deluxe properties?
5 factors you should pay attention to as a real estate agent selling luxury properties
As a real estate agent, you cannot make mistakes if you want to close a 100-crore property deal. You must be well-prepared and well-equipped with excellent information about real estate properties and trends.
Here are some factors you should pay attention to while working with high-networth individuals and deluxe properties.
Investment Potential
What is the appreciation of this real estate property?
Not all ultra-luxury property buyers want to make it their home. They might be seeing it as a potential investment for rental income or other opportunities. It can be their lifestyle choice and even a good real estate investment.
Also, no one will be interested in buying a property whose value is not appreciating, is depreciating, or has been stagnant for a while.
The Wealthy and Their Lifestyle
The home reflects the way of living. The affluent buyers will not compromise to stay in just any common-looking house. They carefully choose the property that suits their style.
Or at least, is the property customisable to the client’s preference? Check if the property can be renovated flexibly to suit the buyer’s interests.
And, quality matters. Top-end customers are willing to pay for first-class houses. The material used, the finishing, the design, and the exquisiteness… all show. The understated designs are in the good books of upscale home buyers. You must get interior designers who can understand the customer’s perception of luxury.
At the end of the day, the clients should be able to identify with their homes.
The Legalities and Regulations
You should be transparent about the property sale. Once you establish a trusting relationship with the customers, they will want to go on the real estate journey with you till the end.
The title chain should be clear, all the required approvals must be taken care of and the plan sanctions must be made by the responsible government authorities. This will let the customer have a stress-free experience for going forward to buy the desired property.
You should be well-versed with GST and other taxes to be able to get the best deal for your client.
Post-pandemic Trend Ripple
The post-pandemic property trends continue to have their effect on real estate. People are living for today. The high net worth individuals are looking for places to live comfortably; choosing a sweet spot where nature and city connect. They are seeking early retirements and tranquil places to establish their homes.
The Prime Location
Spaces that overlook the seas and oceans have serene views of nature or the cityscape, properties that receive generous sunshine, or in a top-end neighbourhood and yet near to places of work, are the prime locations.
And these prime locations are scarce!
If you can fish out these prime locations and present them well to high-end customers, consider yourself an expert.
5 factors top-end customers consider while looking at luxurious real estate properties
The ultra-rich have considerations that go beyond traditional home buying in their decision-making process. If you understand your customers’ thought processes and have knowledge about their considerations, you can get the right properties that are perfect for them.
Here are some factors that premium customers consider while looking for a luxurious home.
The Exclusiveness
Premium neighbourhoods and exclusive communities are encouraging property deal-makers.
Luxury homes call for luxurious amenities – private pools, home theatres, gym, party spaces, spas, saunas, and whatnot!
The proximity to premium schools, colleges, workspaces, and nature retreats will add value to the property.
Premium property buyers look for the exclusiveness factor when they want to establish a property as their home. You must make sure to deliver it to them. Like the exceptional penthouse that only one can own.
The Architecture & Vaastu
If you want to stand out, you must look different and be different. The facade of the apartment is important and so are its interiors. The buyers are interested in the height of the building and look for good light and abundant ventilation. Most of the ultra-rich units are bought as bare-shell units. They should be able to customise these units to call them their home. A touch of personalisation is always desired.
Customers prefer properties that already align with their specific tastes and preferences.
It is your skill to pitch the right property to the right person.
Appealing architecture, picturesque landscaping, and craftsmanship are pleasing to the customer. But, Vaastu has always become quite important. The customers are keenly checking out if the property is Vaastu-compliant.
So, the next time you check out a real estate property, pick premier properties that are visually pleasing, in an elite community, have scope for personalisation, and are Vaastu-compliant.
Privacy & Security
Home is a private space where one must feel safe. Privacy from the crowd and a secured gated property with proper surveillance is a go-to property. With waterfront views and majestic views, the residents will also want to have a private home and a sense of belonging to the property.
A safe neighbourhood with good surveillance systems to curb crimes and ensure safety will make the property more appealing.
The Ease of Accessing
Smart technology and automation are a luxury and so on, is a fine choice to integrate it. Luxury is a step beyond comfort. Accessing anything should be very, very easy. Luxury property buyers take a few of these quite seriously like profuse car parking and high-speed lifts.
Car parking
Parking spaces can be on the surface or multi-level and can be automated. Surface parking spaces are the most preferred because they are quick and easy. An intelligent dropping and pick-up route system should be adopted.
That being said, the number of car parking spaces should also be as per the client’s request as it may vary from one to the other. The parking space should be easy to access and comfortable to park and drive out cars.
High-speed Lifts
When one lives on the 40th floor, the lift is the only plausible choice to reach the ground level. The wait for the lifts should not be long; apartments with lifts that can transit dwellers quickly, win the race.
Check and pick properties that have good car parking and high-speed lifts.
Sustainability
Are these luxurious homes environment-friendly? Then, you got yourself a deal! Solar roofs, green building materials, and meeting green standards make the home sustainable. Philanthropists who want to promote conservation can make a social impact by buying real estate properties that are sustainable and environment-friendly.
In an already limited supply of upscale real estate residential properties, if you can find sustainable properties and deliver them to the right customer, you have signed up for a promising deal.
Follow the real estate trends to increase sales
Ensure to keep informed of the latest trends in the upscale real estate market to flourish in sales! You must understand these factors and tailor your marketing strategies for ultra-rich real estate property buyers. You should be able to sell a personal emotion that is home to them.
Having access to off-market listings, using high-quality visuals, showcasing the property in a personalised manner, and being highly professional will embolden them to close the property sale with you.
Hope this blog was insightful and helps aspiring real estate agents in closing ambitious property sales.
But before you go,
If you think Mumbai has a good sale of grandiose real estate properties, you are right.
Every year, Mumbai closes ambitious property sales.
Visit Homesfy and choose your city.
Here are some properties in Mumbai and Pune that may interest you and increase your earnings.