year 2030 in the country By 2020, 60 percent of new home buyers will be from Millennials and Gen Z. Let us tell you that the youth born between 1980 and 2000 are called Millennials. Whereas, those born between the end of the 1990s and the beginning of the 2010s are called Gen Z. According to JLL report, in the next 5-6 years, Indians aged 24 to 45 will be more alert and active than before in buying a home for themselves. They will fulfill their dream of owning a house before retirement. Therefore, they would like to give priority to real estate investment at the beginning of their career or family. Not only this, regarding future trends in real estate, property market experts say that the demand for luxury homes will remain. With increase in income, better lifestyle will motivate the youth to buy luxury homes.
For this reason youth are increasingly buying houses
According to Dinesh Gupta, Secretary, CREDAI Western UP, due to the rapidly growing infrastructure and investment by companies, new real estate destinations are emerging, where there is no connectivity problem and there are ample employment opportunities. Young people, who got good packages at the beginning of their career, are not delaying in buying their own house due to rapid urbanization.
Housing society will remain the first choice
Nirala World CMD Suresh Garg said that in the current environment, group housing societies will remain the first choice instead of floor or independent houses. The reason for this is all the levels of facilities available in the housing society. According to the changing times and working style, the new generation is giving priority to buying a house in an affluent society either at the beginning of their career or after completing their family life.
Increase in demand for theme based houses
Himanshu Garg, Director of RG Group, said that the new generation home buyers are demanding out-of-the-box, theme-based homes. Due to increasing demand for personal and separate space, we are also making necessary changes in our projects so that the demands of such customers can be met. According to Avnish Sood, Director, Eros Group, from the very beginning, we had made it our priority to build quality over quantity, eco-friendly society and houses accordingly. Due to this, we got a lot of support from home buyers with such preferences who wanted to buy a house in a tower with limited floor height. Among these, there were more young home buyers who wanted to secure a home for themselves and their loved ones before retirement. The good thing is that this trend is going to continue further.
The country’s economy is growing rapidly
According to Pankaj Jain, Director, KW Group, this is reflective of the country’s fast-growing economy where home loan rates coupled with rapidly growing investment and employment opportunities are motivating a youth to buy a home for a better future. Does. In such a situation, people are preferring to buy their own house to permanently remove the burden of rent for a long time and the tension of changing houses again and again. According to Shailendra Sharma, Managing Director, Renox Group, the young generation demands homes with 360 degree facilities, green certified, equipped with smart features or tech-friendly homes where facilities can be provided based on future needs as it is a daily requirement and lifestyle. Has become a part of. We have also planned our project according to these changes which matches the preferences of the young generation.
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