All You Need To Know About Branded Residences
Ever heard about Disney Homes, Armani-styled abodes or any such fancy terms which made you drool for a new house? If yes, then you are aspiring to own a branded residence which, though not very popular right now, is a growing trend in the Indian luxury real estate market. These residences are not for the masses. They come with a brand value and are seen as a status symbol.Â
What is a branded residence?
Branded residence is a form of residential property which is associated with another high-class luxury brands that can offer superlative amenities to its owners. In fact, few hospitality chains come up with such branded options to offer resort-like living experience to the buyer. This can include concierge services, spa and wellness centres, gymnasiums, themed interiors, etc. This also serves as a huge opportunity for other brands to foray into real estate including Armani, Bulgari, Versace, Moschino etc, and offer a feel of high-end luxury and comfort to their potential client.
What do you pay for? Â
It's not just the brick and mortar that a buyer pays for while investing in branded residences. These kind of homes usually include the cost of the brand name which is associated with them. Â This is the reason why these brands lay down very strict guidelines and construction norms for the builders who get associated with them for building a residential project.
For instance, Armani styled homes in Mumbai have strict guidelines to offer its clients the finest living experience that can match up to its name.
How big is the market?
There are very limited takers for branded residences as it includes huge investment and India is still growing in terms of the well-defined luxury segment. According to the real estate pundits, the market for such high-end homes is 0.01 per cent of the present demand but cannot be left unaddressed. These buyers are well-traveled and globetrotters and are demanding such residences which can match their lifestyle and offer them same feel as they get in any other global city like London or New York.
Not everyone has the appetite!
Fancy they might sound but branded residences have niche class of buyers. However, as the purchasing power of a common man is increasing on annual basis, their aspiration has made them capable enough to think about theme-based housing which is an affordable version of ultra-luxury homes. These have the same kind of 'look-and-feel' just little less of luxury and class. So, if you have been thinking to get a home of your dreams which have some big brand associated with it, now you know where to look for.