During the pandemic, farmhouses are becoming more and more popular among homebuyers since they are located away from city centres
A whiff of fresh air, green surroundings, chirping birds! Imagine an ambiance where your house is located. Your day will start with a fresh cup of tea. Nature comes closer to your home. Farmhouse guarantees you such a refreshing lifestyle. Away from the hustle bustle of urban areas, people have started to invest in land in remote areas.
With farmhouses offering the opportunity to live closer to nature and indulge in farming activities gives them an opportunity to stay away from the pollution prevalent in cities. This sector also garnering interest from the NRIs population who are looking at investment avenues in their home city.
Away from affected zones
Anuj Puri, chairman, ANAROCK Property Consultants, says, “Farmhouses were not as popular before the pandemic as they are now. Farmhouses, almost by definition, tend to be located on a city’s outskirts – in other words, far from the city centres, which have been the most affected zones because of the virus. Their purpose is mainly to act as a retreat close enough to be accessible to their city-dwelling owners at short notice, yet far enough into more convivial surroundings to offer a major change in scenery and environment. In the post-pandemic time, farmhouses are now being secure refuges, too. Open spaces, fresh air, greenery, distance from hot zones and a large enough size to accommodate a family easily have very strong associations with safety in a time of pandemic.
A CBRE spokesperson says, “With the changing trends and rising disposable income, people are investing in second homes and are exploring luxurious options, thereby creating a new dimension for real estate players. In the luxury housing sector, farmhouses are becoming popular among the homebuyers as people are looking to move away from the city life and are investing in land in remote areas/ undiscovered peripheral areas, surrounded by farm or a well landscaped location. Usually a large piece of land is converted into a farmhouse, based on the choice and needs of the buyers. Farmhouses are a preferred choice by those looking for holiday homes or second homes, as it provides more freedom in terms of space and comfort and allows one to spend quality time in the lap of nature, away from the busy city lifestyle.”
A CBRE report has revealed that one-third of the millennial identify ‘investment’ as the key driver for buying a property. Overall, most millennials are placing quality of life, size and location at the utmost importance. Millennials who are second generation business families or start-up honchos, too have started investing in second homes spread across the countryside. Today, second home or farmhouses have become more of an investment option to yield future returns and maintain an ideal work-life balance.
Yatindra Soperna, director sales, India Sotheby’s International Realty, says, “With the infrastructural growth in India, the vertical expansion of buildings is also somewhere causing asphyxiated state in terms of peace. The category of people quite visible in investing in a farmhouse is the ones who already have homes, and invest for the reason of having a second home or luxury purposes. People prefer farmhouses to experience comfort in a second home, wherein they can also discover the joys of a country life. Families prefer farmhouses as it allows them more space for a better lifestyle to grow their own vegetables, have space to promote health and fitness, host parties with lesser restrictions, better air quality due to the greenery that can be created, allows them to have pets freely, and more privacy. As an investment option, any day, a farmhouse has its intrinsic value intact and appreciation of value as lucrative as land within city, or marginally less. The owner has the luxury of part disposal of larger chunk of farm land. It gives the farm owner flexibility of retaining the essentials and disposing extra unused for better ROI (Return on Investment).”
Nayan Raheja, director of a real estate group, says, “For the past year and a half, people have moved closer to farmhouses, and things have changed tremendously. Demand for farmhouses in the Delhi NCR has more than doubled in the last year and a half, according to a recent analysis by Sotheby’s International, and has witnessed a yearly price rise of 20-25 per cent. Because the demand pipeline is strong, the numbers will continue to climb. As people appreciate the benefits of safe living and immunity, these spaces assist them in reverting to many age-old societal standards, such as living king-size lifestyles with ample space to conduct everyday chores comfortably. As a result, less cluttered and organic living initiatives are growing more popular. In fact, the term “premium” has evolved from a snobbish connotation to a domain of family health and wellness. When it comes to choosing the ideal lifestyle that caters to all their wants, Millennials and HNIs seek projects that are a cut above the rest. The New-age generation prefers homes that add value to their lifestyle and provide a breath of fresh air.”
Farmhouses are the most recent addition in luxury real estate. It is a place where you may get more healthy foods, as the epidemic has driven individuals to look for projects that can match the demand for a healthy lifestyle. The idea, now, is to live on a self-contained island that doubles as a resort to provide the best living conditions imaginably.