Themed homes poised for robust growth in India: Lincoln Bennet Rodrigues, The Bennet and Bernard Company
In an exclusive interview with FE Online, Lincoln Bennet Rodrigues of the Bennet and Bernard Company talks about the impact of the pandemic on themed homes in India and shares his business outlook.
Driven by positive sentiment drivers, themed homes are poised for robust growth in the near future in India. Given the favourable economic conditions and market sentiments, themed homes are most likely to become a popular choice among buyers going forward. The overall concern about COVID has shifted focus towards safety and has intensified the need for large-themed homes that offer tranquility, says Lincoln Bennet Rodrigues, Chairman and Founder, The Bennet and Bernard Company.
Since the pandemic, every individual in the country has been financially impacted, and they have become more conscious of where they should invest their money. People were brought closer to their houses, which changed consumer behaviour in terms of desiring an environment that reflected their tastes. People who owned and lived in more purpose-oriented houses recognized the need for greater areas and a better atmosphere, which has resulted in a boom in demand. As a result of the pandemic, people have also realized the value of life and the significance of quality of life. Consumers in this group like to live in the best-located themed house that meets all of their requirements. With Goa having one of the greatest quality of air, a sense of openness, and qualities such as beaches, wonderful dining out, woods, and heritage, it quickly becomes the first-choice destination for individuals who want to live a better lifestyle.
What is attracting the buyers towards themed homes?
Holiday villas in Goa have long been a dream for many upper middle class people living in other states, particularly in Tier 1 cities. In India, there are eight Tier 1 cities, all of which are state capitals. It also attracts Indians who have settled overseas for work, such as HNIs, NRIs, and retirees returning to their native country. Holiday homes in Goa have been shown to be the greatest in terms of capital appreciation since themed homes are unique and often have greater aesthetics and character since they are designed expressly to provide potential purchasers with an experience. Furthermore, the premium bed and breakfast rental model for villas with private pools generates a return of up to 10–14 percent for the owners. The overall concern about COVID has shifted focus towards safety and has intensified the need for large-themed homes that offer tranquility.
What is the age bracket of consumers buying themed villas?
Consumers between the ages of 35 and 60 are most likely to purchase themed villas. These villas are mostly purchased by the upper middle class working and retired Indian families, as well as HNIs and NRIs. We have also seen an influx of millennials buying themed villas as an investment.
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