Why is the business of resort homes flourishing?

financialexpress.com:

The concept of a ‘holiday’ in India is undergoing an alteration and has come to a stage of maturity. This has come about due to a number of factors which include a stressful work life and therefore a need for regular short breaks, rising income levels and higher aspirations for a better lifestyle etc. The holiday bug has caught the fancy of Indians in a big way, but with a difference. If we took a peek into the past, a few years ago investing in a holiday home was the privilege enjoyed by a few HNIs or NRIs. Since then, there has been a perceptible shift, post Covid 19, where we are seeing younger generation of Indians looking at purchasing property in holiday destinations across the country.

In recent times, we are witness to a perceptible trend, wherein people on a vacation are not staying in an expensive hotel but prefer to stay in a resort home. Resort homes offer all the luxurious amenities and services that a hotel provides; but with a homely environment. This experience of a resort home has changed the entire dynamics of the business. People are now not just staying, but are investing in such resort homes; a change of position from visitors to now being owners of such properties. This not only provides them with free holidays during the year, but also guarantees them regular monthly income and price appreciation of their asset, in the years ahead.

The resort home concept has caught the fancy of people from Mumbai due to its close proximity to local tourist destinations like Alibaug, Karjat and Lonavala. For instance, resort homes in Alibaug are fast gaining traction among investors and home buyers alike for its propensity to develop as a growing asset class, going forward.

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