Home lift: A rising trend in 2024

Installing a lift at home has become more popular in recent years and it is a rising trend in 2024. This trend is not expected to slow down anytime soon. Whether for accessibility and mobility reasons, or luxury and comfort, home lifts are now more accessible than ever before. In this blog we will explore the reasons behind the rising popularity of the residential lift.

Reasons behind the rising home lift trend:

1. Desire to age in place
2. Growing demand for luxury living
3. Impact of COVID-19
4. Changing housing market
5. Improved design and functionality
6. Rise in urbanisation

1.  Desire to age in place

Today, residential elevators have become a lifestyle choice for increased everyday comfort and freedom. Humans spend around 63% of their time awake at home (Source), and 9 out of 10 older adults prefer to live in their home than in a care facility (Source). Ageing in place has become an emerging desire, and home lifts, amongst other solutions are now seen as one of the tools to achieve this.

Older adults are 3 times more likely to suffer a traumatic brain injury or fracture during a stair related fall. (Source). As a result, many are installing residential elevators at home as a safe alternative to stairs. Not only does a home elevator reduce your risk of injury, but it can also support you if you are ever to use a mobility device or wheelchair.

Having a lift at home offers you the freedom to continue to live in the house that you love, for as long as you want, regardless of your age or physical ability. Because we live longer and healthier lives and prefer to do so at home, the rising home lift trend in 2024 is not very surprising.

Architects are integrating residential elevators into their plans since residential lifts make homes more accessible, and they are becoming increasingly more important in cities where most buildings have more than one floor and climbing the stairs is a safety risk for older adults.

2.  Growing demand for luxury living

The rise in disposable income in some emerging economies is increasing the demand for luxury residential properties. High-end residential buildings are increasingly integrating home lifts as a standard feature.

The home lift has undergone a great change in recent years, making it more appealing to those who are looking for a lift that matches their luxurious lifestyle. Today’s lifts look more modern and some even have very innovative designs. But it goes beyond that… Now its even possible to fully customize a lift so that every detail matches the aesthetics in a home.

Cibes Air Residential Lift

Previously, lifts were mainly designed to transport people from one floor to another, but this has changed over time. Today, comfort and design are one of the focus areas when designing a new lift. An example of this is our Home lift Cibes Voyager, which can be customized to fit your home in whichever way you like. As a result, more homeowners are inclined to make the investment of installing a residential lift, since it enhances the interior design and also increases property value. With the high customization options, and beautiful design features available, architects are now able to choose a lift that matches the interior style seamlessly.

3.  Impact of COVID-19

Whereas the use of lifts in public buildings decreased due to the many lockdowns a few years ago, the interest for domestic lifts has been growing at the same pace as the increasing trend of working from home. Because of the Covid pandemic, remote work has emerged as a dominant trend that is here to stay. As of 2023, 12.7% of full-time employees work from home and 28% work in a hybrid model(Source).  According to FlowingData, in 2019, 50% of the time awake was spent at home, compared to 62% in the year 2020.

As a result, this has highlighted the importance of home improvement, creating a space that is more sustainable and more inline with personal style and needs. Similarly to renovating a kitchen or purchasing comfortable furniture, some homeowners are choosing to take comfort to the next level by installing a lift at home.

4.  Changing housing market

In many countries, house prices are going through the roof and there is a shortage in the housing market. It is becoming increasingly difficult to buy a new house and people are looking at alternative options to improve their current homes. In the past, older adults looked for one story houses or flats to move into to live their golden years. However, in the current economic climate, buying a new flat or house is not affordable for everyone.

Instead of remodeling their entire house, or finding a new place to live in, older adults are preparing the home they are currently living in by adding practical solutions that make ageing in place possible and safe. Adding a lift to a house is a very cost-efficient solution when you compare it to remodeling or buying a new one. Plus, if you’re ever to sell your home, having an elevator in place can increase your property value by 10% and makes the property more appealing to a larger pool of buyers.

Source: bloomberg

5.  Improved design and functionality

Back in the day, elevators were all about their basic function, with not a lot of room for anything else. The solutions that didn’t take up space and were affordable didn’t exist in the residential market. In the recent years, residential elevator manufacturers have taken a step forward by focusing on making elevators that are safe, can fit in small spaces, and look good at the same time. This has made them a more appealing solution, both financially and aesthetically.

Even within the residential elevator category, you can now find lifts that are energy efficient, space efficient, wheelchair-friendly or luxurious. As a result, most homeowners can find a solution that fits their situation, or budget. And more architects are including home lifts as a standard feature in their projects.

6. Rise in urbanisation

The rise in urbanisation also plays a significant role in the rise of the home lift. All across the world, a large percentage of the population lives in cities (56%). A trend that is expected to continue on the rise, but one that comes with certain challenges.

The rise in urbanisation has accelerated the demand for housing and infrastructure. As a result, taller buildings are key to successfully adapt to a growing urban population. Home lifts and elevators in general are key to building prosperous and inclusive cities.

An example of vertical living facilitated by elevators, is the Karlatornet, the tallest building in all of the Nordic region, which includes 611 apartments with shared coworking spaces, a gym and even a dog spa.  A perfect example of how an elevator can change the way we move within our homes and enable cities to accommodate for the growing urban population.

It is safe to say that home lifts are a rising trend due to the benefits that come with having an elevator at home. More people are starting to see lifts as a tool to live comfortably, age in place, and upgrade their living. Perhaps this is something you are considering too?

We manufacture and install a range of residential elevators, for different types of users and buildings. Our team of experts is ready to advice you on a lift that suits your situation and budget. Get in touch with our representatives if you want to receive advice tailored to your situation.