The luxury premium isn’t the house anymore. It’s everything around it.
Remote work and limited coastal, agricultural supply are pushing premiums toward vineyards, views, and distance from neighbors
The concept of luxury in real estate is shifting, and it's no longer just about the house itself, but about the surroundings and amenities that come with it. With remote work becoming the norm, people are reevaluating their priorities when it comes to where they live and what they're willing to pay for. As a result, the premium is now being placed on things like vineyards, scenic views, and a sense of seclusion from neighbors.
This trend makes sense, given the changing circumstances of the pandemic and its aftermath. With more people working from home, the need for a long commute is no longer a concern, and the desire for a peaceful, serene environment is taking center stage. Additionally, the limited supply of coastal and agricultural land is driving up the value of properties that offer these unique features. For the paint industry, this means that homes with exterior features like vineyard views, rustic charm, or natural surroundings will be in high demand.
As this trend continues to unfold, it's worth watching how it impacts the paint and coatings market. We can expect to see a greater demand for exterior paints and stains that complement natural surroundings, as well as products that can withstand the elements and maintain their appearance over time. Additionally, paint manufacturers may need to adapt their product lines to meet the changing needs of homeowners who are prioritizing outdoor living spaces and scenic views. By keeping an eye on these shifts, paint professionals can stay ahead of the curve and meet the evolving needs of their customers.
Originally reported by housingwire.com. PaintNews adds analysis for real estate & property readers.