Selo Group, an award-winning and fully integrated development company based in Singapore, shared the latest trends for the luxury real estate sector that will continue in 2021 and beyond.
Drawing on its own and board’s extensive industry experience and recent client activity, Selo reveals that real estate buyers will focus more on investment opportunities in locations that offer high value and low impact tourism, remote luxury experiences, and boutique branded residential developments.
Buyers will also focus on opportunities in remote locations that are prepared for telecommuting moving forward. The company also noted the rise of the luxury surf market, with more tourism projects developed to target the high-end consumers.
“We have all seen a heightened interest in experiential and responsible travel and this will be emphasized even more by governments around the world,” said Andrew Corkery, CEO of Selo. “These active, healthy travelers and real estate buyers, including our clientele, care for future generations. They want to preserve the local environment, ensure their investments can be passed on, and have an immersive experience in the destination they choose.”
Selo’s “zero waste” construction focus also means that its new precrafted designer villas provide an opportunity for sustainable and cost-effective real estate anywhere in Indonesia as these are built off-site inside a custom facility, eliminating exposure to the elements, and minimizing construction waste and environmental impact.
Selo’s strategy will also go beyond traditional notions of “sustainability”. Selo is currenting building an ecological park that is located behind its Selong Selo Resort & Residences development in Lombok. The 100-hectare site will include a nursery, solar panels, plantation forests and other tourism activities, with the goal of promoting regeneration and restoration of the environment and social resilience, in harmony with commercial development.
Selo also found that the ability to continue working whilst in remote locations and a desire for remote luxury experiences will continue indefinitely.
According to Review 42, 99 percent of employees working remotely would like to continue doing so to some extent, and 25 percent of companies surveyed will move 10 percent of their employees to permanent remote positions post-Covid-19.
“We know a key factor for effective remote work is communication, so we’ve installed high-speed internet connections in all our properties in Indonesia.” Selo offers buyers looking for a secluded escape several options to choose from, including its Selong Selo Resort & Residences, Luxury Surf Villas, Land Parcels and Precrafted Villas.
Recently, boutique branded residential developments have emerged as a preferred choice for investors seeking more bespoke, private luxury experiences. Boutique brands including Selo, can offer a more tailored experience compared to larger or classic brands and involve buyers in the entire process to personalize their new homes, especially in remote locations.
They also provide access to high quality amenities, concierge services to arrange one-of-a-kind excursions to explore the surrounding area and handle the construction and management of the property. Selo illustrates this trend with its Selong Selo Resort & Residences, which offers luxury land and villa packages in a fully managed estate overlooking Selong Belanak Bay in South Lombok.
Owners receive all the benefits of a five-star resort, including access to Aura Restaurant & Bar, a beach club, private chefs, a full-service spa, a kid’s club, daily housekeeping, and 24-hour security.
In addition to the rise of experiential travel, Selo has noticed an increase in surfing-focused vacations and a transition to a more high-end customer. Surfing is one of the fastest growing sports in the world and debuting as an Olympic Sport in Japan; growing 12 percent per year and predicted to have over 50 million surfers by the end of 2020.
Surfing has also been growing steadily in China in the 21st century, particularly in Hainan. The industry in China is projected to reach a market size of $689.7 million by 2027. The Wave Park industry is also growing throughout the world, creating a larger market for surfers of all skill levels.
Lombok, located to the east of Bali, is the ideal destination for surfers with its natural beauty and white sand beaches. Selo offers beachfront properties that are perfect for surfing enthusiasts, including Selong Selo Resort & Residences, the group’s award-winning flagship resort and residences on the scenic coast of South Lombok in Indonesia.