My wife and what that has got to do with Real Estate

In the spirit of Masala, I would like to dedicate this article to my one and only. Love of my life. Apple of my heart. In her wardrobe, I discovered real estate. Fabric is land and embellishments, stones, prints, dyes, embroidery, and stitching (cement) are the construction that adds utility to the garment.

My wife, as some may know, is a big fan and client of one Sabyasachi Mukherjee and has recently discovered her new passion for one Rahul Mishra. They are both homegrown Indian fashion designers who would need to sell a small condo in Bangkok to afford their haute couture in India. Prices at Mishra-ji’s atelier now begin at INR 37,000 for a shawl and INR 520,000 for an evening gown.

I was recently in Mumbai and invited to Mishra-ji’s opening of his Maison Rahul Mishra in Mumbai’s Horniman Circle in late August. I had the pleasure of meeting the fashion maestro who told me we are in the same business. I embellish real estate, and he embellishes a different type of real estate measured in yards. He takes fabric and adds colour and work to it. And a real estate developer takes cement, paint, and adds colour and work to it.

Seems a little simplistic, but when I spoke to Mishra-ji, I came to the conclusion that my wife’s wardrobe is also a type of real estate, measured in fabric and stitching. And as you grow in the branded residences market in real estate, you also have branded couture in fashion. And brands like Elle and Ferragamo may even translate their brand equity from fashion to real estate very soon in Thailand.

1. A shortage creates scarcity, and scarcity creates increased asking prices.

2. Custom-made and bespoke. The tailors of Maison Rahul Mishra in Horniman Circle took about 70 minutes to take measurements of my better half.

All the while offering her something in India called a filter coffee with oat milk. They also offered her a piece of vegan cake from Harley’s Ivory Lounge Patisserie near Kala Ghoda. Before they even embellished her fabric, they actually embellished her ego.

Lessons to take home

After my rather humble retirement of one particular fixed deposit of Rs 500,000 at ICICI Bank to finance my wife’s escapades at Maison Rahul Mishra, I come back to my small abode in Bangkok, better appreciating the humble real estate we live in Thailand, where prices in many properties in Sukhumvit Soi 24 still affordable at under THB 71,000/sqm or under INR 200,000/sqm.

I have come to understand that my wife’s wardrobe is also a type of real estate investment. It dresses and decorates the most important asset in the home, the mother of the house.

Sometimes we need to recognise that the best investments made in real estate are not only your homes, but for the caretaker and life giver for whom you invest a small fortune in places like Maison Rahul Mishra. May she add joy and colour to this Diwali season.

Cheers to your life partner and the best decisions you can make in real estate and fashion. Bangkok or Mumbai? Happy Diwali.

Vimol Kogar is a resident of Bangkok and helps clients big and small. You may contact him at Vimol@arcadiaconsult.com or +66816165987